RE:something doesn't add updowntozero wrote: https://www.eagleenergy.com/2018-02-13%20Corporate%20Presentation.pdf
$33M CDN sale of salt flats. Debt reduction only $19.7 M USD. Oil prices well above levels they should have made a decent profit for 2017 and further reduced debt.
I guess we'll find out what the real story is next month.
Yes downtozero, alot does not add up here!
In the January Presentation, Eagle stated that their corporate decline rate was 10%, now it is 14%, whereas Eagle stated in the NR that selling the Salt Flats property would improve the corporate decline rate. Go figure!
What is really glaring though is that Eagle would have had the 60 day IP results for the N. Texas well on February 15th, yet they neglected to include those numbers in the recent presentation. No doubt I my mind that those results are not good!
Finally what every investor should pay close attention to is that the drilling costs for new wells in N. Texas have gone up, big time. That is simply because Eagle did not know what they were doing when they drilled the first one!
Kherson