Eagle Energy Inc EGRGF

SECOND QUARTER RESULTS

[ariesleaf]

WAITING.???

[BenderRodriguez]

I’d assume around August 9th or 10th based upon the timing of the last results.

[ariesleaf]

Not good news. If the third well is a dud this stock goes to O.

[downtozero]

The fact they made $.04 per share is pretty good. The fact they took a $15M loss on the sale of Twining at <$14M is pretty bad. They will be lucky to pay off $7M USD off the loan after closing costs.

[BenderRodriguez]

Good : $1.932M FFO ($0.04/sh) G&A expenses down 1000 boe/d hedge was finished as of June 30 ... FFO should be higher in Q3 $81.7M shareholder equity, which is $1.86/sh Bad : too much reliance on the North Texas property the impairment charge, although it is non-cash Comments?

[spacegimp]

Shareholder equity number is a complete joke. What you have here is 5 years of management paying themselves exorbitant salaries(4x the average - for a very small producer, lol)...combined with horrible prices realized for sale of production assets. Prediction: 6 months and the resulting bankruptcy sale to follow

[Sjakkspill]

Only hope here is to sell Dixonville and whatever they can get from the skum Maple Leaf assets. Hopefully enough here to pay off the debt and perhaps pay for a well in Texas. It would be nice too to close the office in Calgary and send the crooks there packing. Hard to believe that the current bunch of cronies won the vote last year. Either things fly in Texas or they don’t.

[philippechampy]

the previous CEO, R. Clark, was responsible for 250M losses. Not sure lost for everybody The new one sells assets at loss. Given the numbers, it's a good deal for the buyer ! I wonder too about last year vote. Paid instos ? Friendly hands ?

[philippechampy]

don't be fooled by the net loss. What is important is FFO + 1.93M. More important, they stopped hedging. That means you can add 1.23M to the next quarter (1.23M was the risk management loss for the second quarter). That said, the co is not viable as a going concern, it can only languish with those expensive administrative costs, and would never be able to use its tax loss carryforwards. When

[ariesleaf]

Waiting for third well.?

[Kherson]

Waiting for Eagle Energy to declare bankruptcy! Kherson

[slatefranko]

This post has been removed in accordance with Community Policy