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MEG Energy Corp MEGEF


Primary Symbol: T.MEG

Energy Oil & Gas E&P
MEG Energy Corp. is a Canada-based energy company focused on sustainable in-situ thermal oil production in the southern Athabasca region of Alberta, Canada. The Company is engaged in the development of enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the responsible economic recovery of oil, as well as lower carbon emissions. It transports and sells thermal oil (AWB) to customers throughout North America and internationally. The Company owns a 100% interest in over 410 square miles of mineral leases in the southern Athabasca oil region of Alberta, Canada and is primarily engaged in sustainable in situ thermal oil production at its Christina Lake Project. Christina Lake Project is a multi-phased project, located 150 kilometers south of Fort McMurray in northeast Alberta. It comprised of approximately 200 square kilometers of leases.


TSX:MEG - Post by User

MEG Energy Corp > BAZOOKA: MEG BUYS & CANCELS $ 105 Million 7.125% 2027 Notes
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Comment by ztransforms173on Mar 28, 2024 2:44pm
167 Views
Post# 35958681

RE:RE:RE:BAZOOKA: MEG BUYS & CANCELS $ 105 Million 7.125% 2027 Notes

RE:RE:RE:BAZOOKA: MEG BUYS & CANCELS $ 105 Million 7.125% 2027 Notes- we will be THERE BEFORE ALL the USD 153.2 million 7.125% 2027 NOTES are REPURCHASED and CANCELLED

- the REASON is SIMPLE:

- CASH BALANCE on HAND

CASH @ 12/31/2023:

* C $ 160 million of WHICH USD 102 million was in US DEPOSITS

- at the VERY LEAST, MEG will CARRY C $ 100 million on the CASH BALANCE SHEET on 3/31/2024 {which is ~ USD 74 million}

- so I 'FORECAST' that MEG will ATTAIN their USD 600 million NET DEBT TARGET in Q2/2024 assuming CURRENT STRIP PRICES

- NOW you know WHY the share proce of MEG is OVER $ 30 per share

- STRANGE that the CEO KNEW THIS and SOLD a LARGE CHUNK of his MEG HOLDINGS {I guess that he DID NOT WANT TO TAKE ANY RISK for his RETIREMENT that he WORKED SO HARD FOR}

z173

 
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