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American Eagle Energy Corp (AMZGQ) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2015

American Eagle Energy Corp

CIK: 1282613 Ticker: AMZGQ

 

Exhibit 99.1

 

 

 

American Eagle Energy Reports Results for Fourth Quarter 2014 and Provides Liquidity Update

 

DENVER, CO—April 7, 2015—American Eagle Energy Corporation (NYSE MKT: AMZG)

(“American Eagle” or the “Company”), announces its financial results for the fourth quarter ended December 31, 2014 and provides an update on its current liquidity. The Company filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission on March 31, 2015.

 

Highlights

 

·Production of 238,140 barrels of oil equivalent (“BOE”), or an average of 2,588 BOEPD;
oyear-over-year increase of 38% from 1,879 BOEPD (172,829 BOE)
osequential quarterly increase of 18% from 2,193 BOEPD (201,774 BOE)
·Fourth quarter 2014 oil and gas sales of $14.5 million;
oa year-over-year increase of 7%
oa sequential quarterly decrease of 15%
·Adjusted EBITDA* of $7.9 million;
·Adjusted Cash Flow* of $3.1 million;
·Adjusted Loss* of $7.0 million or $0.23 per diluted share; and
·Negative working capital of $9 million that includes cash of $19 million as of February 28, 2015.

* Non-GAAP financial measure. Please see Adjusted EBITDA, Adjusted Cash Flow and Adjusted Net Earnings descriptions and tables later in this earnings release for a reconciliation of these measures to their nearest comparable GAAP measure.

 

Fourth Quarter 2014 Financial and Operational Results

 

For the quarter ended December 31, 2014, the Company reports oil and gas sales of $14.5 million, which represents an increase of 7% over the fourth quarter ended December 31, 2013 and a decrease of 15% from the third quarter ended September 30, 2014. The increase in year-over-year sales was driven by higher production as 54 gross (32.2 net) operated wells were producing in the Bakken and Three Forks formations at the end of fourth quarter 2014, compared to production from 28 gross (13.7 net) operated wells at the end of December 31, 2013. This was partially offset by lower realized oil prices. The decrease in sales on a sequential basis was driven by lower realized oil prices, that were partially offset by higher production from the three gross (1.9 net) operated wells added to production during the quarter. During the fourth quarter 2014, oil production represented 99% of total oil and gas sales revenue and 99% of total production.

 


The following information was filed by American Eagle Energy Corp (AMZGQ) on Wednesday, April 8, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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American Eagle Energy Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2015 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Carry Agreement
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets [parenthetical]
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Marketable Securities And Fair Value Of Financial Instruments
Marketable Securities And Fair Value Of Financial Instruments (tables)
Oil & Gas Properties
Oil & Gas Properties (tables)
Subsequent Event
Asset Retirement Obligation
Asset Retirement Obligation (details Textual)
Bonds Payable
Bonds Payable (details Textual)
Carry Agreement (details Textual)
Credit Facility
Credit Facility (details Textual)
Description Of Business
Earnings Per Share
Earnings Per Share (details Textual)
Earnings Per Share (details)
Earnings Per Share (tables)
Equity Transactions
Equity Transactions (details Textual)
Farm-out Agreement
Farm-out Agreement (details Textual)
Going Concern
Going Concern (details Textual)
Marketable Securities And Fair Value Of Financial Instruments (details 1)
Marketable Securities And Fair Value Of Financial Instruments (details)
Oil & Gas Properties (details Textual)
Oil & Gas Properties (details)
Price Swap Derivatives
Price Swap Derivatives (details Textual)
Related Party Transactions
Related Party Transactions (details Textual)
Senior Secured Revolving Credit Facility
Senior Secured Revolving Credit Facility (details Textual)
Subsequent Event (details Textual)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)

Material Contracts, Statements, Certifications & more

American Eagle Energy Corp provided additional information to their SEC Filing as exhibits

Ticker: AMZGQ
CIK: 1282613
Form Type: 10-Q Quarterly Report
Accession Number: 0001144204-15-028742
Submitted to the SEC: Fri May 08 2015 2:32:48 PM EST
Accepted by the SEC: Fri May 08 2015
Period: Tuesday, March 31, 2015
Industry: Metal Mining

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