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 > WTI/WCS Price Differential Is TRACKING Under USD -13/Bbl. !!

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Comment by filefishon Jul 08, 2021 1:30pm

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Post# 33515324

RE:RE:RE:WTI/WCS Price Differential Is TRACKING Under USD -13/Bbl. !!

Well, then it must take them a very long time to collect their accounts receivable because strong excess cash flow has been coming in for at least 5 months and they already have a lot of cash on the balance sheet. Guess we wait a few more weeks for the Q2 report and balance sheet presentation.

Eigen337 wrote: Well, I 'EXPECTED' them to USE ALL this CASH GENERATED (by buying the 2025 Notes) but it 'APPEARS' that it has NOT FLOWED IN YET and is showing up in HIGHER RECEIVABLES !!!

So it is NOT BAD news but I would of PREFERRED if they went on a SECOND LIEN NOTE buying SPREE {ELIMINATING long term debt along the way} !!!

The BOTTOM LINE is we have to WAIT a bit longer !!!???!!!

This is my opinion only.

Eigen337