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 > What’s Your Exit Plan for $SOU?

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Comment by HedgieTdoton Dec 09, 2024 1:50pm

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Post# 36353116

RE:RE:What’s Your Exit Plan for $SOU?

this thing is dead in the water. we may have a month or so of gas price that theoretically warrants completing whatever they drilled that isn't yet, but frankly that's probably destruction of capital longer term despite sounding good in the short term.

Company is totally culpable here, overspent, borrowed, on wells without proper performance history.

Move on from last swishes around the bowl, this thing is now a multi year debt workout or a recap candidate, no capital will touch it in current form.

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