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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 by User

Eagle Energy Inc > Eagle Energy amends loan with lender White Oak
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Comment by OOU812on Jul 02, 2017 9:55am
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Post# 26428151

RE:Eagle Energy amends loan with lender White Oak

RE:Eagle Energy amends loan with lender White Oak"The amendments, which are intended to reflect low oil prices during the second quarter of 2017, basically relax two of the four covenants attached to the loan. Yet those relaxations are effective only for the second quarter, after which they return to their previous levels."

The average WTI price for Q2 was $48 usd.I would've never guessed  that they needed 
amendments for Q2 considering WTI and the cdn $ were in decent shape.
To make matters worse those amendments were only good for Q2.
Q3 is not looking so wonderful with a lower WTI and a higher cdn$ than Q2.
White Oak could put the squeeze on these guys whenever they feel like it.
How could the leadership be so foolish.
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