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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
Post by Alex8486on Dec 19, 2018 6:40pm
339 Views
Post# 29137883

Thoughts about Husky MEG proposal

Thoughts about Husky MEG proposal Husky is offering two options. The first is to buy your shares for 11$ per share, and the second is to give 0.485 Husky shares. In their letter, Husky wrote they want to spend a total of one billion dollars to buy MEG shares for 11 dollars (909,090 shares), and replace another MEG shares into Husky shares available is limited to 107,215,520 Husky Shares. MEG right now ownes 290,000,000 shares. I contacted a Husky office worker yesterday, and asked if they can garantee 11 dollars for share. They told me they were not because it is going to be tedner, and they can only garantee the exhange of my shares for a 0.48 ratio, again, because it will be tender. Until the 15th of January, it is impossible to be sure whose shares will be bought for 11 dollars, or exchanged for 0.485 Husky share. I dont now how much will be price of HUSKY share January,15, but if deal will be today 0.485 x $14.80 Husky shares = 7.18$. MED share is costs 7.96 dollars today. What do you think about this offer? Is this proposal for MEG sharegolders viable?
Bullboard Posts