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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 Nov 11, 2022 1:48pm
244 Views
Post# 35092034

RE:The $21 Wall

RE:The $21 WallWe breached for a day shortly after the OPEC curtailment announcement, peaked at about $21.40 but ya fell sharply the next day.  I'm hoping we close today above $21 and then we're smooth sailing from there, based on SEDI Meg is buying back about 300k shares a day which is about 10% of the daily volume.  If they continue to do that throughout the quarter then that is enough volume to help add some consitency to the share price, I do not believe we will see sharp 5-7% + declines in a day like we've seen in the past.  
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