MEG energy is one of the most undervalue stocksThis company runs a top quality asset with one of the lowest operating costs in the oil sands. It's unfortunate that the timing of its major production increase in early 2015 coincides with the crash of oil price, thus they haven't been able to capitalize on their investment. SAGD projects are nothing like shale oil, they require billions of investment upfront, but once it's complete, it is designed for 30 years operation with low operation cost. The massive reserve in Chrstina Lake area is also one of the best for SAGD. The corporate debt consists of long term debt thus no liquidity issue in about 4 years even oil stays low. The market is not giving MEG a fair value possibly due to speculative reasons. In the long term, there are several factors will boost MEG share values: sale of 50% interest in ACCESS pipeline, TransCanada Pipeline approval anoucement, and of course, the rise of oil.
Hold on to it and you will not be disappointed.