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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 cashtango00on Oct 25, 2022 10:42am
357 Views
Post# 35046477

RE:RE:RE:RE:RE:MEG - #1 Top Pick on BNN Market Call - Eric Nuttall

RE:RE:RE:RE:RE:MEG - #1 Top Pick on BNN Market Call - Eric NuttallHere's the thing.  Eric is a promoter, it's his job to be a perma bull.  If you can recognize that and take what he says with a grain of salt, great.  Keep in mind, he's not an analyst, he's a salesman.  He is not generating the research he presents, he buys it and he presents it in a format to make it more digestible to the average retail investor.  I do give him credit, he does do a good job of educating the average joe about the reality of the energy dislocation and turns them onto the extreme value that is currently available to buy into.  I just don't like his hype and ridiculous targets based on overly aggressive models.  People love him because they have CONFIRMATION BIAS, in that they seek out data that confirms their existing opinions/positions and tend to ignore anything that counters that info.  They also love to imagine the millions they will get from his aggressive price targets.

He buys his macro info from Cornerstone Analytics and Energy Aspects.  The latter I find overly optimistic as well, but Cornerstone is fantastic and completely unbiased.  Mike Rothman at Cornerstone is the gold standard in the macro energy space.  Although his research is very expensive and not really available to retail investors,  you can find numerous podcasts on Youtube for free as he does long interviews once every month or so with different sources.  The best time you can spend for energy research without the nonsense.  


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