Mr. Bill McCaffrey reports

MEG ENERGY ANNOUNCES AGREEMENT TO EXPAND AND EXTEND CREDIT FACILITY

MEG Energy Corp. has expanded its senior secured revolving credit facility from $1-billion (U.S.) to $2-billion (U.S.) and has extended the maturity of the revolving credit facility by one year to 2018. The transaction was completed through an amendment of MEG's credit agreement. The revolving credit facility retains its covenant-lite structure and is currently undrawn.

"The expansion of our credit facility provides MEG with additional financial flexibility under favourable terms," said Bill McCaffrey, president and chief executive officer. "While our plans to increase production to 80,000 barrels per day by early 2015 are fully funded, additional revolving credit capacity complements our marketing efforts as we expand the reach of our product sales to higher-value markets."

BMO Capital Markets and Barclays Bank PLC acted as joint lead arrangers and joint bookrunners for the transaction.

We seek Safe Harbor.