Eagle Energy Inc. reported audited consolidated earnings results for the fourth quarter and full year ended of December 31, 2017. For the quarter, the company reported revenue, net of royalties of CAD 14,725,000 compared to CAD 13,891,000 a year ago. Revenue, net of royalties per boe was CAD 42.08 compared to CAD 39.72 a year ago. Funds flow from operations was CAD 3,488,000 compared to CAD 3,901,000 a year ago. Funds flow from operations per diluted share was CAD 0.08 compared to CAD 0.09 a year ago. Loss were CAD 14,293,000 compared to earnings of CAD 30,508,000 a year ago. Basic and diluted loss per share was CAD 0.34 compared to earnings per share of CAD 0.72 a year ago.

For the full year, the company reported revenue, net of royalties of CAD 55,569,000 compared to CAD 48,993,000 a year ago. Funds flow from operations was CAD 12,695,000 compared to CAD 15,798,000 a year ago. Basic and diluted funds flow from operations per share was CAD 0.30 compared to CAD 0.38 a year ago. Loss were CAD 17,349,000 compared to earnings of CAD 9,559,000 a year ago. Basic and diluted loss per share was CAD 0.40 compared to earnings per share of CAD 0.23 a year ago.

For 2018, the sale of the Salt Flat field reduced Eagle's total corporate production by approximately 1,200 barrels of oil equivalent (boe) per day (boe/d). Following the sale of the Salt Flat field, an improved corporate decline rate of 14% lends itself to Eagle sustaining 2018 average corporate production at post-Salt Flat disposition levels with low capital expenditures.