Eagle Energy Inc EGRGF

Read their Disclosure

[energee]

Go to sedar.com and read their public documents. In the space of about 1 hour you can determine:

• Mgmt and Board combined own < 2% of the O/S shares
• Corporate G+A is pointing at $7MM (est.) for 2018.
• Interest payments about the same amount (est.) for 2018. 
• Salary for the President and the Team is off-scale for a Company with < 2000 boepd.  At least double the norm.
• Top 4 combined (excluding Mr. Clark) earned $1.331MM base salary in 2017. Average $332K (CDN).
• CEO 2017 reported cash salary alone was $449K (CDN); 18 month severance agreement in place and he owns 150K shares directly plus RSU's.
• Office lease commitments remaining in CDA and TX totalled $3.5MM at end of Q3 2018.
• Vehicle leases in TX (5 units) with remaining lease obligations for 37 months totalling $1.0 CDN at Q3 2018. Can't understand that one because that is $27K/month or >$5K month per vehicle. Must be big (or field) vehicles.
• Two BOD members receiving annual fees of ~$65K each for governance?
• Current debt appears to be about $39MM (CDN) but don't know what working capital is after CAPEX spend on last TX well.
• CDN production likely treading water for Q4 2018 due to differential issues but that has been a big problem for all in CDA. CEO did say that "we are able to remain cashflow positive at the field level for the fourth quarter" in his Jan 2, 2018 NR.

Was looking at this to see if I wanted to own some.  I found my answer.

Good luck on the drills in TX.

[ariesleaf]

We see what needs to be the first thing done. Salary for the President and the Team is off-scale for a Company with < 2000 boepd.  At least double the norm.  CUT CUT CUT

[auburn2]

So why don't you have a problem with PPR which also has dismal insider ownership, some of the worst I've seen?

[freedom-1970]

Guess  the first big difference  they have an Ncib ..