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 > HOLY Tea Leaves, NUTTALL EF GROWS TO $ 1.5 BIllion AUM !!

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Comment by newcoinon Apr 05, 2022 1:20am

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Post# 34575551

RE:HOLY Tea Leaves, NUTTALL EF GROWS TO $ 1.5 BIllion AUM !!

This is the Nuttall we know.

Eigen337 wrote:

A favorite holding of Nuttall’s $1.5 billion Ninepoint Energy ETF, is MEG Energy, which coaxes oil out of a 1,000-foot deep layer of oil sands near Alberta’s Fort McMurray. MEG uses the in-situ method; that involves injecting high-pressure steam that softens the oil and pushes it up producing wells. MEG doesn’t have to worry about exploring; it has sufficient reserves to support 35 years of production at its current level of nearly 100,000 barrels per day (bpd) and would make money even at $50 oil. MEG trades at about 5 times expected cash flow, and after the company pays down debt to $1.2 billion this year, 50% of all additional cash will go to buy back stock.

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See:

https://www.forbes.com/sites/christopherhelman/2022/03/31/top-energy-fund-manager-says-to-ride-out-the-oil-spike-in-canada/?sh=3b68d4d84856&fbclid=IwAR11OiqG4yYXIAB0FTLEvRsfs-t4Z_htzv36rRFP2KcICpOzNFOR41o3bMc

If Nuttall HOLDS to his 10% WEIGHTING, this IMPLIES that he has about $ 150 million INVESTED in MEG !!!

This is my opinion only.

Eigen337