EXPM:EGRGF - Post by User
Comment by
Jitu1011on Jun 14, 2018 4:21pm
40 Views
Post# 28174423
RE:RE:RE:Corporate Decline Rates...
RE:RE:RE:Corporate Decline Rates...downtozero wrote: Also in January, they reported $USD 56.2 Million debt. At today's exchange rate they would now owe $73M CAD. Per their 2018 Q1 report, Eagle's lending base maximum amount was $70 M Canadian. With the eroding CAD dollar, they had reached and exceeded their debt ceiling and were still spending. The only worth while property they could sell and not lose their shirts was Salt Flats, although it was still a big loss due to higher WTI prices. A very bad indicator they are not sustainable and they were not open about why they needed to sell.
With their advertised netbacks, and the higher price of oil, they should have made much higher profits last year (if they really did achieve their cost targets). They should not have come close to the ceiling.
In the same presenation published January 2018, they updated 2017 guidance. I guess they're living in the past. Where's 2018 guidance, we're half way through the year?!!
The only hope they have is North Texas. They are not making any money on their Canadian properties. Why are we not getting any updates on either well??
I thougth the exchange rate is in favour of CAD now than last January, so the debt is reduced from USD 56 and not increased