July 26, 2012 / 9:59 AM / in 5 years

MEG Energy posts loss on forex charge

July 26 (Reuters) - MEG Energy Corp, a Canadian oil sands company, posted a second-quarter loss on a charge related to foreign exchange.

The company posted a net loss of C$29.5 million, or 15 Canadian cents per share, in the April-June quarter compared with a net income of C$42.5 million, or 21 Canadian cents per share, a year earlier.

MEG’s cash flow from operations, a key indicator of its ability to pay for new projects, fell 32 percent to C$60 million, or 30 Canadian cents per share, from C$88.2 million, or 45 Canadian cents per share, a year earlier.

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