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MEG Energy provides Annual and Special Meeting voting results

TSX Symbol: MEG

Date issue: May 25, 2017
Time in: 8:05 PM e


CALGARY, AB --(Marketwired - May 25, 2017) - MEG Energy Corp. (TSX: MEG) announces voting results from its Annual and Special Meeting of Shareholders held on May 25, 2017.

Shareholders elected all directors nominated by management, the results being as follows:


Director Vote For Withhold Vote ------------------------ ------------------------- # % # % -------------------- ----------- ----------- ------------ ----------- Boyd Anderson 230,187,237 99.98 48,939 0.02 Harvey Doerr 230,121,824 99.95 114,352 0.05 Robert Hodgins 229,923,152 99.86 313,024 0.14 Timothy Hodgson 230,188,514 99.98 47,662 0.02 William R. Klesse 222,151,667 96.49 8,084,509 3.51 David B. Krieger 229,453,100 99.66 783,076 0.34 William J. McCaffrey 177,440,470 77.07 52,795,706 22.93 Jeffrey J. McCaig 229,840,359 99.83 395,817 0.17 James D. McFarland 193,246,258 83.93 36,989,918 16.07 Diana McQueen 230,000,493 99.90 235,683 0.10


Shareholders approved the Corporation's amended and restated Shareholder Rights Plan, with 87.07% of the votes cast being in favour.

Shareholders also passed a resolution accepting the Corporation's approach to executive compensation, with 98.30% of the votes cast being in favour.

Shareholders also approved the reappointment of PricewaterhouseCoopers LLP as auditors of the Corporation for the ensuing year.

Lastly, after serving as a director of the Corporation for over 13 years, Peter Kagan stepped down from the Corporation's board of directors effective May 25, 2017. "Peter joined MEG's Board as we were working to expand and define our resources, and I would like to thank him for his thoughtful leadership and counsel on the board," said Bill McCaffrey, President, Chief Executive Officer and Director. "Although Peter will be missed, the foundations that he helped put in place will ensure the future success of the company."

MEG Energy Corp. is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is actively developing enhanced oil recovery projects that utilize SAGD extraction methods. MEG's common shares are listed on the Toronto Stock Exchange under the symbol "MEG."

Forward-Looking Information

This document may contain forward-looking information including but not limited to: expectations of future production, revenues, expenses, cash flow, operating costs, steam-oil ratios, pricing differentials, reliability, profitability and capital investments; estimates of reserves and resources; anticipated reductions in operating costs as a result of optimization and scalability of certain operations; and anticipated sources of funding for operations and capital investments. Such forward-looking information is based on management's expectations and assumptions regarding future growth, results of operations, production, future capital and other expenditures, plans for and results of drilling activity, environmental matters, and business prospects and opportunities.

By its nature, such forward-looking information involves significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks associated with the oil and gas industry, for example, results securing access to markets and transportation infrastructure; availability of capacity on the electricity transmission grid; uncertainty of reserve and resource estimates; uncertainty associated with estimates and projections relating to production, costs and revenues; health, safety and environmental risks; risks of legislative and regulatory changes to, amongst other things, tax, land use, royalty and environmental laws; assumptions regarding and the volatility of commodity prices, interest rates and foreign exchange rates, and, risks and uncertainties related to commodity price, interest rate and foreign exchange rate swap contracts and/or derivative financial instruments that MEG may enter into from time to time to manage its risk related to such prices and rates; risks and uncertainties associated with securing and maintaining the necessary regulatory approvals and financing to proceed with MEG's future phases and the expansion and/or operation of MEG's projects; risks and uncertainties related to the timing of completion, commissioning, and start-up, of MEG's future phases, expansions and projects; the operational risks and delays in the development, exploration, production, and the capacities and performance associated with MEG's projects; and uncertainties arising in connection with any future disposition of assets.

Although MEG believes that the assumptions used in such forward-looking information are reasonable, there can be no assurance that such assumptions will be correct. Accordingly, readers are cautioned that the actual results achieved may vary from the forward-looking information provided herein and that the variations may be material. Readers are also cautioned that the foregoing list of assumptions, risks and factors is not exhaustive.

Further information regarding the assumptions and risks inherent in the making of forward-looking statements can be found in MEG's most recently filed Annual Information Form ("AIF"), along with MEG's other public disclosure documents. Copies of the AIF and MEG's other public disclosure documents are available through the SEDAR website which is available at

The forward-looking information included in this document is expressly qualified in its entirety by the foregoing cautionary statements. Unless otherwise stated, the forward-looking information included in this document is made as of the date of this document and MEG assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law.

MEG Energy Corp. is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is actively developing enhanced oil recovery projects that utilize SAGD extraction methods. MEG's common shares are listed on the Toronto Stock Exchange under the symbol "MEG."

- END RELEASE - 25/05/2017

For further information:

For further information, please contact:

Helen Kelly
Director, Investor Relations
Email contact:

Davis Sheremata
Senior Advisor, External Communications
Email contact:

TSX Symbol: MEG

INDUSTRY: Energy and Utilities - Oil and Gas
RELEASE ID: 20170525CC020

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization issuing the release, not to The Canadian Press.

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