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 MyHoneyPoton Sep 09, 2024 1:46pm

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Post# 36215108

Share buybacks

Looking at the share price today and the average repurchase price in Q2, $30.39?

I simply don't believe in share buybacks for MEG as it is ultimately setting itself up for a sale anyway.

Simply keep the cash on the balance sheet for a possible eligable future dividend, increase the enterprise value of the company, and reducing debt servicing costs.

I don't think these fiscal gymnastics exercises really return anything to shareholders in the long run, only trading desks like Nine Points see upside.

IMHO
MHP

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