Eagle Energy Inc. reported un-audited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenue, net of royalties of $12.5 million compared to $14.2 million, funds flow from operations of $1.7 million or $0.04 per diluted share compared to $1.6 million or $0.04 per diluted share, loss of $2.6 million or $0.06 per diluted share compared to profit of $1.3 million or $0.03 per diluted share for the last year. When one-time disposition costs and debt prepayment expenses ($3.4 million in total) associated with the February 2018 Salt Flat disposition are excluded from first quarter 2018 funds flow from operations, first quarter results show an increase of 46% (to $5.1 million from $3.5 million) from the fourth quarter of 2017. This is due to higher per boe field netbacks and a realized foreign exchange gain on debt repayment more than offsetting a 22% decrease in sales volumes due to the disposition. First quarter 2018 funds flow from operations was 51% less than the fourth quarter of 2017, yet first quarter 2018 net income was 82% more than the fourth quarter of 2017, primarily due to a non-cash impairment expense relating to oil and gas properties taken in the fourth quarter of 2017.