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Bullboard - Stock Discussion Forum Eagle Energy Inc EGRGF

Energy
Eagle Energy Inc is a Canadian company operating in the Energy Sector. The company is engaged in the acquisition, exploration, development and sale oil & gas and hydrocarbons with operations in Alberta, Canada and Texas, United States. While derives majority of its revenue from Canadian operations.

EXPM:EGRGF - Post Discussion

Eagle Energy Inc > Update is out
View:
Post by freedom-1970 on Jan 02, 2019 4:15pm

Update is out

Hmmm...
Comment by BenderRodriguez on Jan 02, 2019 4:45pm
So the way I read the press release, they'll be forced to sell something in the next 30 days to stay alive, otherwise the lenders will call the loan at the end of January ...
Comment by gvixid on Jan 02, 2019 6:22pm
Shareholders are toast. This won't end well - Likely outcome is bankruptcy.
Comment by freedom-1970 on Jan 02, 2019 7:03pm
Under the Forbearance Agreement, the Lenders have agreed to forbear from exercising their rights and remedies arising if Eagle fails to meet any of its financial covenants as of December 31, 2018 until January 31, 2019 (the "Forbearance Period") so long as no termination event has occurred during the Forbearance Period. I read it different, i am no lawyer but to me this SAY'S YOU ...more  
Comment by BenderRodriguez on Jan 02, 2019 7:21pm
Check your calendar ... we're in 2019 now ...
Comment by alkhor on Jan 02, 2019 7:44pm
Trouble reading calanders as well. The period is 31 days, not a year.  
Comment by freedom-1970 on Jan 02, 2019 8:15pm
 wow! Your  right , 2000bopd and they closing in... They are making 40 bucks a barrel ..  Banks  use reserves to back  the loan , i will have check  them .. I bet new wells are not in the 51-101?  They need to get this down Tomorrow ! They 3.6 mil in the bank 56.80mil line of credit .. 30mil drawn ... Something  is not  right here the cash  flow ...more  
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