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MEG Energy Corp T.MEG

Alternate Symbol(s):  MEGEF

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

Bullboard Posts
Comment by shambano1on Sep 08, 2016 3:34pm
105 Views
Post# 25219231

RE:RE:Should be a green day tomorrow

RE:RE:Should be a green day tomorrowI see strong short covering today and if this move up for oil continues you will see more short covering as oil prices climb.

don't forget there are only 225 million shares outstanding so big buy orders can influence the price faster than stocks with 1 billion shares outstanding.

there will be more good news coming form MEG be:

1-access pipeline sale
2-possible JV to raise cash and increase produciton
3-continued strength in oil prices and increase CF for meg in q3 and q4.

the downside is still oil prices if they reverse and fall in the fall and winter and worries about large debt if oil falls increases.

as oil price rises debt becomes less of a worry and should be reflected in a stronger stock price.

GLTA
Bullboard Posts