Eagle Energy Inc T.EGL.UN

NR Update + 2012 Guidance

[RIG500]

EAGLE ENERGY TRUST PROVIDES PRODUCTION UPDATE AND 2012 GUIDANCE
Eagle Energy Trust has provided an operational update of its subsidiary, Eagle Energy Acquisitions LP, including Eagle's 2012 capital program, production guidance and operating budget, as well as a current production update and a discussion regarding the sustainability of its distributions.
Figures within this press release are presented in Canadian dollars unless referring to West Tex as Intermediate oil pricing (WTI) or otherwise indicated.
Highlights
-- Current working interest production of 2,250 barrels of oil per dayrepresenting a 225% increase from Eagle's 3rd quarter daily productionaverage.-- Four (3.2 net) additional wells put on production in November. Three(2.4 net) remaining wells expected to be on in December.-- 2011 exit rate guidance maintained at 2,400 barrels of oil per day.-- Distributions sustainable for over 3 years.-- Board of Director approved 2012 capital budget of US$14 million,consisting of:-- 10 (8.0 net) horizontal oil wells-- 2 (1.6 net) side track re-entry wells-- 1 (0.8 net) salt water disposal well-- 1 new battery and adding to an existing battery-- completing the electrification of the balance of the Salt Flatfield.-- Guidance 2012:-- average working interest production of 2,600 barrels of oil per day-- funds flow from operations of $40 million at $88 WTI pricing-- payout ratio of 50% at $88 WTI pricing-- no debt and a $16.5 million credit facility-- current hedges locking in 1,000 barrels per day at WTI $88 to $107pricing-- operating costs ranging from $11.25 to $11.75 per barrel
FANTASTIC!