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 > WALK MEG WALK: SEE MEG WALK; RUN MEG RUN: SEE MEG RUN !

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Comment by vwbusmanon Oct 02, 2024 7:01am

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Post# 36249566

RE:WALK MEG WALK: SEE MEG WALK; RUN MEG RUN: SEE MEG RUN !

Thanks Z

MEG September share buybacks - about 2,089,000 sharess is about 3/4% of the total share float. Remember this is in conjunction with paying off $57 million in 7.125% notes in September. AND, this is before the transition to 100% FCF to shareholders starting Oct 1.

If we extrapolate the debt payment in September toward more share buybacks in October, it is possible that MEG can buy back over 4 million shares at the current price which would be around 1.5% of the total float.

Nothing but good news for MEG longs who have stuck it out for the last few years.

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