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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 Apr 28, 2016 6:54am
101 Views
Post# 24818873

RE:wow...

RE:wow...Not sure I'm reading the same q1 report u r reading but that was not a good report. At this rate they will burn through the rest of their cash by q4 and they will be lucky not to borrow more to cover negative cf. One good point is they will start a hedging program to protect cf from declining if oil prices start t fall again which they will St done point. The Saudis do not want 60 oil this year, but they might allow 50 if they know most shale drillers will not crank up production. But I suspect 35-45 will be the range in 2016. I really don't understand why meg won't accept the friendly offer of ,8-10 that is on the table by my recunning. I think IMO has made a friendly offer but Meg bid want more. I didn't see any mention if access pipeline?? Maybe I missed it. If anything this report might increase shorts but we know Q2 will be better so I doubt too many shirts will jump on board. In any case things will get better but right now debt service costs are too high and need to come down, either by selling access and retiring debt or by selling the company. Good luck to all, Meg is a good company with high quality assets but too much debt at this time in the commodity cycle.
Bullboard Posts