Bullboard - Stock Discussion Forum 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... see more

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MEG Energy Corp > I've been doing some research .........

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Post by topdown99 on Apr 11, 2022 7:30pm

I've been doing some research .........

I did some research on MEG this weekend and as a result of what I found (and today's trading) I started a position in MEG .

Correct me if I'm wrong but the Q3 report stated that "the company had NOT entered any WTI or WTI/WCS risk management contracts for 2022" . Can anyone confirm this ?

Also of note was that the first debt target has been reached and an NCIB is now in place to retire 27 million shares (I hope they were buying today) . With 100,000 barrels of unhedged production , Q1 should be far more profitable than even Q4/year end and with WTI holding $94/$95 per brl Q2 is poised to be even better . This story seems to be coming together better than mom's buttertart recipe and with the market squeezing any recent shareholders today , I started buying . The market seems to think that anyone with any money is already in the stocks of their choice , haven't these eco idiots heard of "dry powder" ? With a long weekend staring us in the face , I expect to get a few more cheap shares but come next week , the sale will be over . Q1 is mear weeks away and those numbers will even make Eric N smile .

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Comment by GrandBend on Apr 11, 2022 7:42pm

You are indeed right. MEG is not hedging.it's sated in their recent report. I also believe it is an acquisition target especially given the American need for a safe and stable supply of oil. I read somewhere that MEG has $4/share in tax losses that would be valuable for others in addition to its cash and reserves. I'm here for the long term. Oil will still be desperately needed ...more

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Comment by topdown99 on Apr 11, 2022 9:32pm

Thanks for confirming what I read Grandbend , I went back over that paragraph 3 times to ensure I was reading it properly . 100,000 barrels unhedged ..... whats not to like ????? I knew Eric N was a big fan of MEG but Sat and Sun was the first hard look I've taken at this company . The canadian market is so F-ed up regarding O&G valuations it seems inevideble that some US ...more

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Comment by masfortuna on Apr 11, 2022 11:25pm

Sorry Grand. Forget about any American company, or for that matter ANY non Canadian company buying into a Canadian O&G play. Take a look at our own policies towards our Canadian O&G companies and you will see that they would need to be crazy to do so.

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