July 20 (Reuters) - Eagle Energy Inc EGL.TO :
* EAGLE ENERGY INC. ANNOUNCES SALE OF TWINING ASSETS
* EAGLE ENERGY INC - EAGLE INTENDS TO USE NET PROCEEDS FROM SALE TO REDUCE OUTSTANDING DEBT UNDER ITS SECURED TERM LOAN
* EAGLE ENERGY INC - ALSO INTENDS TO USE NET PROCEEDS FROM SALE TO FURTHER FUND ITS NORTH TEXAS DEVELOPMENT PROGRAM
* EAGLE ENERGY INC - SIGNED AN AGREEMENT FOR CASH CONSIDERATION OF $13.8 MILLION
* EAGLE ENERGY INC - SALE IS EXPECTED TO REDUCE LEVERAGE, INCREASE CORPORATE NETBACK PER BARREL OF OIL EQUIVALENT AND LOWER ITS CORPORATE DECLINE RATE