Eagle Energy Inc EGRGF

re restrictive convenants

[adonai]

The reports says on page 20 that refinancing or an extenstion on the maturity will likely occur. It appears the company is in the drivers seat to me.

[BenderRodriguez]

I went back to the press release from May 31, and copied some relevant statements related to the dividend, as a reminder ... "Although current and forward crude oil prices have recovered from their previous lows, the price forecasts used by the banks remain conservative. However, we anticipate that a sustained rebound in oil price levels will be incorporated into lenders'

[bullmarkets]

the hedge book is 8 million underwater.. so any money they make from an increase in price will just offset that.  maybe they figure they are underpaid and any increase will go to bonuses.  they have created so much shareholder value..

[ppp]

On a quarter-over-quarter basis, the net value of the commodity price contracts decreased. The net value of the commodity price contracts moved from a net asset as at December 31, 2015 to a net liability at June 30, 2016. Net value of the contracts is dependent upon current and forward commodity pricing and, in the case of realized gains and losses, the price of the contract relative to the

[westcoast1000]

The hedge book is "underwater" because oil prices went up. Their production is not all hedged by any means. It is true the market value of their hedges has fallen.

[bullmarkets]

at june 30 they were underwater 8 million .. probalby close to the same currently.. be interesting to see if it affects the bank line, its not like banks are looking for more exposure in energy..

[OOU812]

"The net fair value of Eagle’s unrealized risk management positions at June 30, 2016, is a liability of $2.0 million (December 31, 2015 - $9.2 million asset). The carrying value of Eagle’s risk management position has been calculated using both quoted prices in active markets and observable market-corroborated data consistent with a Level 2 valuation."

[westcoast1000]

Thanks for correcting the misinformation from other posters.

[philippechampy]

this thread is absolute bashing, because they are hedged for 1/5 of 2017 prod. That means if POO rises, they will profit for 4/5 of prod

[greenT]

a move to $1 is in order here ...  

[westcoast1000]

With oil over $50 US for WTI, you are surely correct greenT. Moreover, EGL management will meet their bankers to discuss financing this month. They could concievably raise the dividend in coming months if oil continues to go up. When EGL does finally move, it may be fast, although there are many other oil plays out there. None have the potential to raise the dividend as quickly as EGL, IMHO