Eagle Energy Inc EGRGF

What is the real Reason this Stock is Low

[ariesleaf]

Could this be another .?

[gvixid]

What does Cona have to do with Eagle? Are you suggesting Eagle will be taken out? For what? 50 cents? I'd rather try my chances with developing the Texas property. Who the hell would want to buy us now? 2 jurisdictions, massive debt, unproven reserves... we're a mess

[ariesleaf]

Thanks Good Reply. Was Cona not kept  low so debt holders could pick up cheap.? On EGL Who holds the most stock.? And a take out at .60 - 50% higher would work.

[gvixid]

To your questions: 1.  Who holds the most?  No way to know, as there is virtually no instuitional holders of this company.  Nealry the entire float is owned by lowly retail investors like you and me.  The big boys bailed on this long ago. 2. A take out at $0.60 wouldn't work for me, as I'd be out a signifcant amount of money at that price.  I would veture that

[BenderRodriguez]

Hopefully we get an update regarding the North Texas wells as a result of someone asking that question during the AGM next Tuesday. But to your point about timely disclosure ... surely they shouldn't have to wait until asked about it ... they must have something to say (good or bad) regarding that second well by now.

[gvixid]

Agreed, update is way overdue. Even if they don't give us specific numbers, they should have reported the progress on the new wells. We've heard nothing on the second one. I have written a strongly worded email to the ceo and cfo regarding their inadequate disclosure. Not surprisingly, all I got back was a lame response saying all updates are provided via news release etc. This is not

[ariesleaf]

NO NEWS AND STILL GOING DOWN WITH TODAYS MARKET.?

[gvixid]

Straight dow from 55 to 35 cents over the past two weeks on no offiial news.  Obviously the Texas wells aren't producing and somebody who owns shares knows this and is getting out.

[ariesleaf]

Now my thoughts are this will be going Private. 

[downtozero]

Going private for Eagle would mean claiming bankrupt first, screwing all the shareholders, a private firm buying out the assets for pennies on the dollar, all while the current management team continues to run the company with no loss to themselves (they've already ditched their own shares). This was the fate of many others; and will likely be for Eagle if North Texas has failed. If this is

[ariesleaf]

Ya you could be right.? Not looking good.

[philippechampy]

seems a large hand selling, but they find buyers

[ariesleaf]

Ya Maybe Kingsway Fincancil Services.?  We are under water. Just like us  American Cities That Will Soon Be Under Water Some In Texas   

[downtozero]

Kingsway is probably the one selling today.

[Jitu1011]

Thats interesting and this is what I was thinking. Even if kingsway or someone from promoters want to shed they are able to find the buyer, which is kind of positive and can pull back the stock by End of day