May 12, 2017 / 4:35 PM / in 5 months

BRIEF-Eagle Energy Inc reports Q1 earnings per share $0.03

May 12 (Reuters) - Eagle Energy Inc:

* Eagle Energy Inc. provides update to shareholders on growth strategy and announces first quarter 2017 results

* Qtrly Q1 funds flow from operations of $1.6 million ($0.04 cents per share)

* Have identified 218 potential horizontal drilling opportunities on existing Eagle lands in North Texas

* Eagle’s 2017 guidance for its capital budget, average production and monthly operating costs remains unchanged

* Sees 2017 capital budget of $22.8 million

* 2017 funds flow from operations is expected to be approximately $15.2 million

* Expects 2017 general and administrative expenses to be approximately 16 pct below 2016 levels

* Qtrly sales volumes 3,767 boe/d versus 3,854 boe/d

* Qtrly earnings per share $0.03

* Qtrly revenue, net of royalties of $14.2 million versus $9.1 million

* Expected growth in year-over-year Q4 average production is 8 percent Source text for Eikon: Further company coverage:

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