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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

Comment by alwaysmovingon Mar 24, 2022 12:10pm
201 Views
Post# 34541766

RE:Post Q1 price

RE:Post Q1 priceI think this is based on how oil prices fair in the short term, if oil holds above $95 and the market can see the huge cash pile MEG can build based on those prices a shareprice of $25+ is very justifiable.  Shareprice is being hit a bit harder at the moment compared to peers, not sure the reason for it... I think the company will start the buy backs in April which should be about 500k shares/day roughly if they plan to buy back 10% between April/May.  Would be nice to see the shareprice start to approach back to the $20+ mark once the share buyback begins.  MEG would be smart to buyback as much as possible before Q1 results, would be nice if they could even go beyond the 10% which should be very afforable based on current FCF.     
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