MEG Energy Corp T.MEG

Alternate Symbol(s): MEGEF

Energy Oil & Gas E&P

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.

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MEG Energy Corp

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Comment by jagsfanon Aug 31, 2020 11:20am

219 Views

Post# 31479301

RE:MEG and Canadian energy stocks disconnected from Oil prices

I'm holding on to MEG & CVE but my judgement & faith in these 2 is now being challenged.
Hard to believe that lack of global demand is the cause, given the production cutbacks that OPEC+ have entered into; unless Nigeria is cheating big-time..

The disconnect could be based on fears that 'work-from-home' is going to be the new normal & oil & rental demand will be lower, when the 'new normal' reveals its true self.
Fear seems to be the strategy of morons like Trump & its infecting the stock market.

Hang on there is the best course right now, as selling near the bottom is always regretted.

GLTA