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

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Post by alwaysmovingon Dec 14, 2022 12:25pm

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Post# 35171120

Share Repurchases and Debt Cancellation

These used to be posted consistently on the board to remind us that MEG is following through on its plan. Just thought I would add in the link so everyone can see:

https://ceo.ca/api/sedi?symbol=meg

The company is still purchasing about $3m worth of shares on a daily basis (November) and is constantly buying down debt. This is a good metric to remind ourselves that MEG is returning money to us on a daily basis and the CFO openly stated that Dividends will most likely be part of the profit sharing come as soon as Q2 of 2023, which is the anticipated date that MEG could hit its 600m debt floor.

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