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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (81511)	5/15/2020 3:30:11 PM
From: Goose94	Read Replies (1) of 202704

MEG Energy (MEG-T) revisited 4.0 top pick from Eric Nuttall on BNN.ca Market Call Friday May 15th @ 1200ET MEG has one of the highest quality oil sand assets in Canada and has 55 per cent of their 2020 production hedged at $59 WTI. The current enterprise value is $3.8 billion and under normalized oil prices (2021) the business can generate $70 million in free cash flow (18 per cent free cash flow yield) on 33 years of proved reserves. With the share price down 59 per cent year-to-date, the market is clearly not giving any value for the defensiveness of their 2020 hedge book. Under a normalized oil price ($50 WTI in 2021) MEG could get back to $6 (it’s at $2.36 currently) and potentially up to $9 on a takeout.

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