Oil and Gas

Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU)(AIM:SOUC) announces the following purchases of Company common shares. The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the applicable transaction

1. Details of the person discharging managerial responsibilities / person closely associated
a) Name Steven Smith
2. Reason for the notification
a) Position/status Director
b) Initial notification /Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Southern Energy Corp.
b) LEI 213800R25GL7J3EBJ698
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument Common shares in Southern Energy Corp.
Identification code CA8428133059
b) Nature of the transaction Purchase of common shares on the open market
c) Price(s) and volume(s) 200,000 common shares at a price of CAD0.4088
d) Aggregated information N/A
e) Date of the transaction 18 January 2022
f) Place of the transaction Toronto Stock Exchange

For further information, please contact:

Southern Energy Corp.

Ian Atkinson (President and CEO)

Calvin Yau (VP Finance and CFO)

+1 587 287 5401

+1 587 287 5402

Strand Hanson Limited - Nominated & Financial Adviser

James Spinney / James Bellman

Hannam & Partners - Joint Broker

Samuel Merlin / Ernest Bell

Canaccord Genuity - Joint Broker

Henry Fitzgerald-O'Connor / James Asensio

+44 (0) 20 7409 3494

+44 (0) 20 7907 8500

+44 (0) 20 7523 8000

Camarco

James Crothers, Billy Clegg, Daniel Sherwen

+44 (0) 20 3757 4980

About Southern Energy Corp.

Southern Energy Corp. is a natural gas exploration and production company. Southern has a primary focus on acquiring and developing conventional natural gas and light oil resources in the southeast Gulf States of Mississippi, Louisiana, and East Texas. Our management team has a long and successful history working together and have created significant shareholder value through accretive acquisitions, optimization of existing oil and natural gas fields and the utilization of re-development strategies utilizing horizontal drilling and multi-staged fracture completion techniques.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Southern Energy Corp.



View source version on accesswire.com:
https://www.accesswire.com/685138/Southern-Energy-Corp-Announces-Director-Share-Purchase

News Provided by ACCESSWIRE via QuoteMedia

SOU:CA
Southern Energy

Southern Energy

Overview

The export of Liquid Natural Gas (LNG) in the United States has dramatically grown since 2016. Analysts report that U.S. LNG exports set an all-time record in March 2021 at 10.5Bcf/d and averaged 9.2Bcf/d the following month leading to an increase demand for natural gas.

With projected U.S. consumption of natural gas to hit unprecedented averages of 82.6 billion cubic feet per day in 2021, investors looking to gain exposure in this growing space could see significant upside potential by investing in emerging players in oil and natural gas production.

Southern Energy (TSXV:SOU) is Canadian listed, primarily natural gas company focused on acquiring and developing conventional natural gas and light oil resources in the southeast U.S. Gulf States of Mississippi, Louisiana, and East Texas.

Southern Energy’s core asset base consists of 2,300 boe/d of high cash margin, low decline stable production, and a combined area of 33,000 acres held by production. Its main Mechanicsburg, Gwinville and greater Williamsburg assets host exceptional development upsides, including large scale, multi-zone expansion potential within company owned infrastructure.

Southern’s emphasis on incorporating technological advancement in its development plans gives the company a competitive edge. In the past 5 years management has put together a massive proprietary digital database of over 25,000 wells within the Gulf Coast focus area, which allows the company to geologically map areas much quicker and across millions of acres at one time. This highly valuable data also optimizes acquisition evaluation workflow and the company has evaluated over 100 assets for possible acquisition.

The company anticipates significant growth in the next 18 to 24 months with the completion of strategic and transformative acquisitions in the focus area. Southern has conducted extensive groundwork to access capital in the global equity markets and has engaged with key high profile advisors to access these markets.

In April 2021, Southern closed a CAD$5.5 million private placement priced at CAD$0.04 per share with a full warrant for two years priced at CAD0.04 per share unit. This placement involved existing and new investors alongside management participation in the financing. The company intends to use the proceeds to complete its restructuring transiaction and for general corporate purposes.

Southern Energy’s core values emphasize dedication to the environment, safety, stakeholder satisfaction and governance. The company works actively with state regulators to design best practices and policies in areas of reducing air emissions and fresh water usage. Southern has an impeccable saftey record since management began operations in the area in 2013. A focus on governance is also a key to success for Southern with independent and diverse board oversight and regular stakeholder engagement.

Southern Energy’s management team has a long and successful track record of working together and creating significant shareholder value through strategic acquisition and efficient development of existing conventional oil and natural gas fields..The team is working to utilize modern development techniques on mature, low decline assets. Together, they prime the company for significant success and economic growth.

Company Highlights

  • Southern Energy 100 percent focused on consolidating and developing its Gulf Coast oil and natural gas operations, where they leverage exceptional resource pricing, low-risk and high cash margin potential.
  • The company currently operates in two counties in Alabama, twelve countries in Mississippi and holds a high working interest in more than 30,000 net acres of favorable land positioning.
  • Southern has a robust core asset base consisting of the main Mechanicsburg, Gwinville and Green Creeks assets and highly prospective Magee, Mount Olive and Williamsburg targets.
  • As an early-stage company, Southern hosts exceptional growth potential and expansion opportunities, including projected listing on London markets in the near future. The company could see growth from its CAD$20 million market capitalization to upwards of CAD$200 million.
  • Southern Energy leverages strong institutional investor support for its business plan execution and projected international expansion in the future.
  • The company has an expert management and technical team with extensive experience in profitably developing assets with horizontal drilling and modern unconventional completion techniques and enhanced oil recovery methods.

Key Projects

Southeast Gulf State Oil and Natural Gas Operations

Southern Energy operates in two counties in Alabama, twelve counties in Mississippi and holds a high working interest in more than 60,000 net acres. Its core asset base consists of the main three Mechanicsburg, Gwinville and Greens Creek assets, as well as the highly prospective Magee, Mount Olive and Williamsburg targets.

  • Mechanicsburg hosts liquids-rich resources approximately at over 30bbl/MMcf of oil and liquid natural gas.
  • Gwinville hosts multi-zone development upsides with over 60 horizontal Selma Chalk locations.
  • Greens Creek hosts low-cost Hosston recompletions, infill Hosston drilling opportunities and Cotton Valley potential.
  • Magee has a field production potential of over 10MMbbl and high-quality oil opportunities.
  • Mount Olive hosts high deliverability gas wells and infill Eutaw drilling opportunities.
  • Williamsburg hosts infill drilling opportunities and has revealed large oil discoveries on-trend.

Southern Energy has a defined plan to build its Cotton Valley assets in a regional fairway using its proprietary database. The low-risk, prolific hydrocarbon trend displays consistent ‘macro’ trapping elements throughout the structure and a proven vertical production in Mississippi with low-cost completions transitioning into horizontal drilling, multi-stage completion technques in Louisiana and East Texas. Southern has also identified several low-risk horizontal redevelopment plays along this trend.

The company remains focused on controlling costs and developing its scalable large resource assets. Through acquisitions and strategic investor partnerships, Southern Energy intends to continue consolidating its low-decline, high-growth potential assets in the Gulf Coast area.

Management Team

Ian Atkinson — P.Eng., President & CEO

Ian Atkinson is a petroleum engineer with over 25 years of technical, executive and board of directors experience in the energy industry. He is the founder and senior executive officer of Athabasca Oil Corporation. Atkinson previously held engineering, operations, acquisitions and executive positions at Talisman Energy Inc., Renaissance Energy Ltd. and Morpheus Energy.

Calvin Yau — CA, CPA, VP of Finance & CFO

Calvin Yau has over 15 years of financial experience in the oil and gas industry. He has held previous positions of increasing responsibility at Molopo Energy, Waldron Energy, Bronco Energy, and Daylight Resources. Yau is also a member of the Institute of Chartered Accountants of Alberta.

Chris Birchard, P.Geol. — VP of Exploration

Chris Birchard has over 20 years of exploration and management experience in the oil and gas industry. He was the former senior geologist and team lead at Athabasca Oil Corporation and VP of Exploration at Bellamont Exploration Ltd. Birchard has held previous technical positions at Espoir Exploration Corp., Keywest Energy Ltd., Devon Canada and Anderson Exploration Ltd.

Erin Buschert — VP of Land

Erin Buschert has over 20 years of experience in mineral & surface land, mergers & acquisitions and contract negotiations. She was the former manager of Land for Saskatchewan and Manitoba at Crescent Point Energy Corp. Buschert has held previous positions of increasing responsibility at Talisman Energy, TriStar Oil & Gas and ARC Resources Ltd.

Buschert is a member of the American Association of Petroleum Landmen (AAPL), the Canadian Association of Petroleum Landmen (CAPL), the Canadian Association of Petroleum Land Administrators (CAPLA), and the Petroleum and Acquisition Divestment Association (PADA).

Jim McFadyen — VP of Operations

Jim McFadyen has over 20 years of operational experience in the oil and gas industry. He was the former operations manager at Athabasca Oil Corporation (Light Oil) and Galleon Energy Inc. Mcfadyen has also held previous leadership and operational roles at Fairborne Energy and Renaissance Energy Ltd.

Gary McMurren, P.Eng. — VP of Engineering

Gary McMurren has over 20 years of engineering, operational and management experience in the oil and gas industry. He was the former director of Light Oil at Athabasca. McMurren also held previous engineering and operational roles at Galleon Energy Inc., ARC Resources Ltd. and Talisman Energy Inc.

Southern Energy Corp. Announces First Quarter 2022 Financial and Operating Results

Southern Energy Corp. Announces First Quarter 2022 Financial and Operating Results

Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU)(AIM:SOUC) today announces the release of its first quarter financial and operating results for the three months ended March 31, 2022

Southern Energy Corp., Thursday, May 26, 2022, Press release picture

Southern is an established producer with natural gas and light oil assets in Mississippi characterized by a stable, low-decline production base, a significant low-risk drilling inventory and strategic access to the best commodity pricing in North America. Selected financial and operational information is outlined below and should be read in conjunction with the Company's unaudited consolidated financial statements (the "Financial Statements") and related management's discussion and analysis (the "MD&A") for the three months ended March 31, 2022, which are available on the Company's website at www.southernenergycorp.com and have been filed on SEDAR.

Keep reading... Show less
Southern Energy Corp. Announces Block Listing Application to AIM

Southern Energy Corp. Announces Block Listing Application to AIM

Southern Energy Corp. ("Southern Energy" or the "Company") (TSXV:SOU)(AIM:SOUC), a U.S.-focused, growth-oriented oil and natural gas producer, announces that application has been made to AIM for a block admission of 15,624,232 new common shares in the Company ("Common Shares"). This will be used to facilitate the admission of Common Shares to trading following future exercises of outstanding warrants issued in 2021 ("2021 Warrants") and future conversions of outstanding 8% convertible unsecured subordinated debentures issued on June 14, 2019 and January 15, 2021 (the "Convertible Debentures"). The number of Common Shares admitted for these purposes is as follows

  • up to 7,812,116 Common Shares in connection with the 2021 Warrants; and
  • up to 7,812,116 Common Shares in connection with the Convertible Debentures.

The Common Shares cited above will be issued from time to time pursuant to exercises of the 2021 Warrants and conversions of the outstanding Convertible Debentures.

Keep reading... Show less
Southern Energy Corp. Announces Fourth Quarter and Year End 2021 Financial and Operating Results

Southern Energy Corp. Announces Fourth Quarter and Year End 2021 Financial and Operating Results

Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU)(AIM:SOUC) today announces the release of its fourth quarter and year ended December 31, 2021, financial and operating results

Southern Energy Corp., Monday, April 18, 2022, Press release picture

Southern is an established producer with natural gas and light oil assets in Mississippi characterized by a stable, low-decline production base, a significant low-risk drilling inventory and strategic access to the best commodity pricing in North America. Selected financial and operational information is outlined below and should be read in conjunction with the Company's consolidated financial statements (the "Financial Statements") and related management's discussion and analysis (the "MD&A") for the three months and year ended December 31, 2021 and annual information form ("AIF") for the year ended December 31, 2021, which are available on the Company's website at www.southernenergycorp.com and have been filed on SEDAR.

Keep reading... Show less
Southern Energy Corp. Announces Operational Update

Southern Energy Corp. Announces Operational Update

Southern Energy Corp. ANNOUNCES A 73% INCREASE IN 2P RESERVES AT YEAR END 2021, UPDATE ON GWINVILLE DRILLING PROGRAM AND NON-CORE ASSET DISPOSITION

Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU)(AIM:SOUC) is pleased to announce selected highlights of Southern's year end independent oil and gas reserves evaluation as of December 31, 2021 (the "NSAI Report"), and provide an update on the Company's three well drilling program at the Gwinville field and a non-core asset cash disposition

Keep reading... Show less
Southern Energy Corp. Announces Update Re Share Consolidation

Southern Energy Corp. Announces Update Re Share Consolidation

Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU)(AIM:SOUC), a U.S.-focused, growth-oriented natural gas producer, is pleased to confirm that its proposed share consolidation (the "Consolidation") announced on December 10, 2021 has been approved by the TSX Venture Exchange ("TSX-V"), with trading in the post-Consolidation Shares to commence at market open on December 22, 2021 on both AIM and the TSX-V

The 616,901,068 existing Common Shares currently issued and outstanding will be reduced on the basis of one post-consolidation Common Share for every eight pre-consolidation Common Shares to approximately 77,112,652 Common Shares on a post-Consolidation basis ("Consolidated Shares"). The final aggregate number of Consolidated Shares, taking into account fractional adjustments, will be announced prior to market open tomorrow morning.

Keep reading... Show less