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Press release from CNW Group

MEG Energy re-prices, increases and extends the maturity of its term loan

Monday, February 25, 2013

MEG Energy re-prices, increases and extends the maturity of its term loan15:21 EST Monday, February 25, 2013CALGARY, Feb. 25, 2013 /CNW/ - MEG Energy Corp. ("MEG") announces that in light of favourable market conditions, it has re-priced and extended the maturity of its existing US$987.5 million term loan. The interest rate of the covenant-light term loan has been reduced by 25 basis points and the maturity has been extended by two years to March 2020. In addition to re-pricing and extending the term loan, MEG has also taken the opportunity to increase the term loan by US$300 million on the same terms and conditions.Barclays acted as the sole arranger and bookrunner in connection with the transaction.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."SOURCE: MEG Energy Corp.For further information: Investors Helen Kelly Director, Investor Relations (403) 767-6206 helen.kelly@megenergy.com Media Brad Bellows Director, External Communications (403) 212-8705 brad.bellows@megenergy.com