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Southern Energy Corp V.SOU

Alternate Symbol(s):  SOUTF

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

Post by pwig01on Mar 23, 2023 11:26am
469 Views
Post# 35356269

Comment from 5i

Comment from 5iIt can be very hard for a $45M company to attract attention, especially when the sector has rolled over a bit. It is also Mississipi-based so Canadian investors tend to ignore it a bit. Revenue quadrupled in the last quarter as new production was added, so it does not appear to be a growth issue. Net earnings increased 54%. It says it is on track to see 25,000 b/d. The balance sheet is decent and it is a cheap stock. Two shareholders, Venture Equity and Svetoslav Bojilov, have been accumulating shares, and together now own 21%. This is a good show of support, but also limits the available share float even further (still, it trades quite heavily, in London as well).  Insiders own 5%. We are intrigued here. We can't nail down specific reasons for the weakness other than those noted above. Recent wells have a payback of less than one year. 
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