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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 Oct 19, 2016 9:57am
63 Views
Post# 25359979

RE:not a donald... a shamboner...LOL

RE:not a donald... a shamboner...LOLI never said they didn't have debt and I also said their debt is why the stock is so low.

but even given their high debt, it is spread out over 3-4 years and not until 2020, so it's not like the banks are going to foreclose tomorrow.

also they have assets that they can sell to meet their first debt repayment in 2020, so again it's not a big risk right now, at least not with rising oil prices.

yes if oil were 30 wti I would be concerned.

their is covenent light so again the banks can't force them bankruptcy.

right now MEG has the opportunity to increase production with low capital which will lower costs and increase netbacks because the assets are very high quality.

I can honestly say as oftoday my average cost of my MEG shares is 5.967, so not up or down.

at this point I'm going to see where oil prices are heading.

if they are going to 55-60 range I will hang on and hopefully profit but if they fall back under 45 I might sell and cut my losses.

q3 might have some good news, which might also help the SP.

GLTA
Bullboard Posts