Eagle Energy Inc T.EGL.UN

RE:RE:RE:CCAA protection?

[gvixid]

Everyone who voted to keep current management in place shouldn't be surprised. No asset sales, so debt remains ridiculously high. No way to drill to profitability, and the market is punishing us accordingly Oil steady above $53 and we keep setting new all time lows. Unbelievable. I actually spoke to the CFO, Karen Tomyn, last Friday. I asked her point blank if asset sales would be considered before letting the company go bankrupt. It's amazing that such a question even needs to be asked about a company that had no debt just a few years ago. I was told that company has received numerous unsolicited offers for some of their assets. If an offer comes in that makes a significant dent on debt, and provides value for the company, then it will be presented to White oak for consideration. I told her that the best way to right the ship would be to focus it's operations in one jurisdiction, either US or Canada. Smaller company, low debt, simplified structure. Value will be unlocked. Of course she was noncommittal. We'll see what quarterly results say.