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MEG Energy Corp T.MEG

Alternate Symbol(s):  MEGEF

Energy Oil & Gas Refining & Marketing
MEG Energy Corp. is a Canada-based energy company focused on in-situ thermal oil production in the southern Athabasca oil 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 economic recovery of oil. 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
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Comment by parachutiston Aug 26, 2012 5:51am
416 Views
Post# 20261334

RE: 300,000 $/bopd VALUATION

RE: 300,000 $/bopd VALUATION

Even  on  a   funds   from  operations   basis,   MEG  is   very  expensive   again   as   it   trade    25   times    its    funds   from  operations   annualized. 

The   estimated    funds   from  operations    for  2012   will  not  be  more   than   300-350  million.    

 

Not    to  forget  that   bitumen    is   being  sold   at    prices     lower  than   WTI.....the   differentials  are  always  there......MEG   does    not   produce    light   oil     and   eventually    it    does   not    sell   its   bitumen    neither  at   WTI    nor    at    BRENT     price    to   justify   a  premium   valuation....

 

Actually    as    bitumen   gets    the   lowest   price   among   all   the   oil   prices   (Edmonton,  WTI,  BRENT)    MEG   should   trade   at  a   discount    in   comparison   with  the  other    100%    oil   producers....

 

 

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