Southern Energy Corp V.SOU

Alternate Symbol(s): SOUTF

Energy

Southern Energy Corp. is a Canada-based natural gas exploration and production company. The Company 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. It has three assets in the Mississippi Interior Salt Basin (MISB), which include the Gwinville, Mechanicsburg, and Mount Olive East fields. It operates and owns a working interest in over 12,000 held by the production acres of land in the Gwinville field. It operates and owns a working interest in approximately 12,450 held by the production acres of land in the Gwinville field. The Company operates and owns a working interest in over 3,400 held by production acres of land in the Mechanicsburg field. It owns and operates production from a number of other fields in the MISB within 40 miles of Gwinville, including Greens Creek and Williamsburg South gas fields, along with minor oil production from the Magee field.

TSXV:SOU - Post by User

Southern Energy Corp > Comment from 5i

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Comment by smxmcx2on Mar 23, 2023 3:59pm

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Post# 35357198

RE:Comment from 5i

Seriously, I think it is pretty damn simple.

Gas price is in the toilet.
A good portion of the cash has been used drilling the 7 wells.
Only 3 will come on line now (I believe). 4 will remain DUCs.
Drilling will be paused.

How much cash do they really have left. Big question. Also, how are they going to pursue the M&A strategy with minimal cash and the stock price in the toilet?

Help me here.

By the way, I am long SOU.

One more thing. The video they did last week was completely unprofessional and unprepared. The only new information that was communicated was the 7 wells, 3 completed and 4 DUCs, and that dirlling will be paused. It was a joke.

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