Bullboard - Stock Discussion Forum Eagle Energy Inc EGRGF

Energy

Eagle Energy Inc is a Canadian company operating in the Energy Sector. The company is engaged in the acquisition, exploration, development and sale oil & gas and hydrocarbons with operations in Alberta, Canada and Texas, United States. While derives majority of its revenue from Canadian operations.

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EXPM:EGRGF - Post Discussion

Eagle Energy Inc > Update is out

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Post by freedom-1970 on Jan 02, 2019 4:15pm

Update is out

Hmmm...

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Comment by BenderRodriguez on Jan 02, 2019 4:45pm

So the way I read the press release, they'll be forced to sell something in the next 30 days to stay alive, otherwise the lenders will call the loan at the end of January ...

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Comment by gvixid on Jan 02, 2019 6:22pm

Shareholders are toast. This won't end well - Likely outcome is bankruptcy.

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Comment by freedom-1970 on Jan 02, 2019 7:03pm

Under the Forbearance Agreement, the Lenders have agreed to forbear from exercising their rights and remedies arising if Eagle fails to meet any of its financial covenants as of December 31, 2018 until January 31, 2019 (the "Forbearance Period") so long as no termination event has occurred during the Forbearance Period. I read it different, i am no lawyer but to me this SAY'S YOU ...more

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Comment by BenderRodriguez on Jan 02, 2019 7:21pm

Check your calendar ... we're in 2019 now ...

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Comment by alkhor on Jan 02, 2019 7:44pm

Trouble reading calanders as well. The period is 31 days, not a year.

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Comment by freedom-1970 on Jan 02, 2019 8:15pm

wow! Your right , 2000bopd and they closing in... They are making 40 bucks a barrel .. Banks use reserves to back the loan , i will have check them .. I bet new wells are not in the 51-101? They need to get this down Tomorrow ! They 3.6 mil in the bank 56.80mil line of credit .. 30mil drawn ... Something is not right here the cash flow ...more

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Eagle Energy Inc