Eagle Oil Announces an Additional New Financing Program on Level Stock.com

Eagle Oil Announces an Additional New Financing Program

RENO, Nev., Nov. 21, 2011 (LevelStock.com News) -- Eagle Oil Holding Company, Inc. (OTC: EGOH) (the "Company") today announced that the Company has secured a new financing program utilizing Rule 504. In connection with the financing, the Company has signed an equity funding agreement with a Cayman Island company with offices in Delaware. Rule 504 allows non-reporting to companies to raise up to $1,000,000 annually. The Company has already received a portion of the financing which will be used for working capital at a discount to market of approximately 50%. Additional draws can be taken by the Company as needed, at the Company's option.

The Agreement represents the Company's additional strategy to capitalize on its oil assets through multiple financial sources as the needs arise. This agreement on funding will not affect the Farmout Agreements that cover the work-overs on the wells. However, if the Farmouts should fail to proceed, this allows another format to proceed with the Company's plan on the field development. There are still conditions to be met with the Texas Rail Road Commission to get permission to sell the oil that will be produced on the field. Production is expected to begin in November with the completion of the re-working of the wells.

Eagle Oil (EGOH) (www.eagleoilholdingco.com) is an independent energy company in the active East Texas oil and gas region. The Company owns a 73% working interest in 173 wells on its 927 acres located in the Historic Woodbine Oil Field.

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "should," "intends," "will," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.

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