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.

TSX:MEG - Post by User

MEG Energy Corp > nice report.

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Comment by churchofnutsaccon Nov 10, 2022 1:18pm

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Post# 35089033

RE:RE:RE:RE:RE:RE:nice report.

cashtango00 wrote: Algos don't blindly sell on EPS numbers. Look at Suncor. Had a massive writedown on Fort Hills of over 3 billion that was a non cash accounting entry pulling them into a 600m loss on net earnings but they still did well over 3b in FCF and the market loved the report.

Well, the exact same thing happened in Q2. The selling after Q2 was as if it was a production miss, rather than pre announced maintenance issue.

Who knows how these robots operate.

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