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

Bullboard Posts

Comment by shambano1on Mar 02, 2016 9:08am

59 Views

Post# 24612021

RE:RE:RE:RE:imminent bankruptcy

I welcome all bashers to this forum because it's a good sign that things are turning around for MEG
the more bashers here then we know that they are on the short side of meg and they want to continue to stay short and scare more investors into selling and keeping the pressure on this stock price
trust me if meg was even months away from bankruptcy the sp would reflect it, which it is not.
the low sp is reflecting a good company with good assets and steady long life production and reserves and low maintenance capital in 2016-2018 but with pricing challenges.
meg is a very low cost operator and they have some very valuable assets, co-gen facility to generate power and steam for operations and 2 way pipelines to storage hub from edmonton to christina lake.
the only thing I blame management and BOD is for not raising more capital when SP was in the 30's and 40's, which would have lower long term debt and prepared for lower commodity prices.
as it stands meg can weather the storm because we are witnessing lots of shale companies going under and it's going to continue throughout 2016-2017 if prices don't recover back into the 40's or even 50's.
not all shale companies have the sweet spot wells and many that don't with higher debt will be gone because they ned even higher oil prices 50-60's to survive if they are not drilling the sweat spots.
so to all my friends on this forum that give us all of this great wisdom about meg going bankrupt in 3 years, well in 3 years oil will be around 60-75 range if these big capityal proejcts get cancelled and producers slwo down their drilling programs and reduce production.
the enxt bit of news from MEG will be very positive for the SP and don't let these shorters and manipulators tell you different
mind you I doubt anyone reads these forums for investment advice so in the end it doesn't really matter
but IMHO MEG will survive and prosper but it won't ever be a 30 or 40 stock again, well maybe in 20 years but it will long gone by then taken over by a big oil company looking for high quality oil assets and infrastructure assets to support growth.

GLTA but dyodd