Bullboard - Stock Discussion Forum 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... see more

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TSX:MEG - Post Discussion

MEG Energy Corp > Buybacks

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Post by vwbusman on Feb 08, 2024 6:36am

Buybacks

January buybacks: 1.965 million shares at around $24 average per share (just under 1% of share float) - almost $48 million in purchase and cancellation of shares - Go MEG

I would really rather see a full 100% attack on debt first to get to the target debt of $600 Million USD, then flip over to buybacks.

Current target for hitting debt goal is Q3, then 100% go to buybacks with a possible small dividend introduced. I would say now is a good time to add some additional share buys as the future for MEG looks very nice for those that have to put up with the ups and downs of the oil market.

TMX is a wild card - no news since the last cryptic message about an "obstruction"

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