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

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Comment by Oilmarketon Apr 29, 2013 10:55am

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Post# 21313751

RE: management good or is it bad

I was waiting for the financials but now see they lost $2.9mm in nine months. I am starting to wonder about management as well. There are millions of shares for sale for a price under the Net Asset Value of $0.14 they show on the website presentation. Management only holds 6% of the company (from the same presentation). I understand they probably want to buy cheap but do they believe their own story of going to 800 barrels per day from 80 b/d when they actually went to 62 b/d by yearend. At this rate cash will be gone in less than two years.

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