RE:RE:RE:RE:Missing a billion?perstrudent wrote: The issue with MEG is that they are generating so much fcf that 10% NCIB is going to be complete way before MArch when they can renew it again..this leaves MEG with either a SIB..or divy/special divy option.
Nuttall is major shareholder of MEG and talks to board memebers regularly...He is very adament that wants NCIB, then SIB.....and then a special divy...in that order.
MEG should be hitting the 1.2 50% returns milestone literally any day now..and I mean any day....we should see tommorrow how they did on the buybacks for August. They werent able to buy much debt back the past month so either they are stockpiling some cash until they can call the debt next spring..or they bought a MASSIVE amount of shares....being how consistant management has been to doing what they said...my guess is they just arent able to find any more debt able to buyback and are stockpiling cash on balance sheet to put towards the debt next spring..and then been using the 25% towards buybacks...
The Debt has either become to exspensive or the sellers have dried up.
If meg sticks to their plan of 75/25 allocation strategy @ these prices your looking @ late Oct early
Nov to reach 2nd debt level, let's not forget they still had 400m in debt to payoff.
Regards Fuz