Bullboard - Stock Discussion Forum MEG Energy Corp T.MEG

Alternate Symbol(s): MEGEF

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 > NinePoint Energy Fund (EN) Has SOLD ~ 2/3 Of Their Position

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Post by ztransforms173 on Apr 10, 2024 10:59am

NinePoint Energy Fund (EN) Has SOLD ~ 2/3 Of Their Position

- they had 9 MILLION MEG shares

- so, this LEAVES THEM with ~ 3 MILLION MEG shares

- they HAD to SELL the shares since they were ~ 15% of the PORTFOLIO fund weight and the fund had NET REDEMPTIONS

- EN stated on BNNBloomberg Marlet Call that they made ~ $150 million in CAPITAL GAINS in these transactions

- this was MORE THAN the $ 114 million in CAPITAL GAINS that they made on SELLING ALL of their ATH

z173

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