Eagle Energy Inc EGRGF

RE:RE:RE:RE:CCAA protection?

[Kherson]

gvixid wrote: 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.

Karen and her gang of clowns must be proud of their accomplishments. What is painfully clear now for shareholders is that White Oak is calling the shots.

In the end, the equity holders will simply be wiped out and the debt holder (White Oak) will own the assets. This was all planned out long ago!
Kherson