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MEG Energy Corp T.MEG

Alternate Symbol(s):  MEGEF

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

Bullboard Posts
Comment by shambano1on Mar 04, 2016 7:52am
91 Views
Post# 24620974

RE:RE:Fire at Christina lake

RE:RE:Fire at Christina lakeI agree, most likley due to cost cutting and less survelience etc, but it doesn't sound serious as well, so hopefully will not impact SP greatly.

this doesn't change my opinion on MEG, especailly in light of the great shale bust that is happenning right now in US, and production declines will only accelerate from here well into 2016 and maybe even into 2017.

MEG will make good money at 45-50 WTI.

a good jobs report tpday will mean more demand for gasoline and slowly bringing down the storage surplus.

so still a positive trend in my view but we are slowing down now a little and waiting for confirmation of production freezing meeting.

MEG will not go back to 13 in one week, but by year-end I hope to see MEG above 8 or even 10 if it doesn't get taken out before that.

dyodd
Bullboard Posts