June 15, 2017 / 12:17 PM / a year ago

BRIEF-Eagle Energy announces ISS's recommendations; to accelerate cost reductions

* Eagle Energy Inc announces independent advisory firm recommendation supporting a vote on Eagle’s yellow proxy and additional cost reduction initiatives

* Eagle Energy Inc says 2017 capital and operating budget assumed an average WTI price of $US 55.46 per barrel of oil

* Eagle Energy Inc says in response to significantly weaker current oil prices, Eagle has decided to accelerate cost reductions

* Announces Institutional Shareholder Services Inc’s recommendations for voting and additional cost reduction initiatives

* Within next 60 days, intends to implement material reductions in executive compensation, including materially reducing CEO’s compensation

* Eagle Energy - Eagle’s board unanimously recommends Eagle shareholders vote only yellow proxy or voting instruction form in favour of current board Source text for Eikon: Further company coverage:

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