CALGARY - Southern Energy Corp. (SOU: TSXV) (AIM: SOUC), a U.S.-focused, growth-oriented oil and natural gas producer, announces, further to the Company's announcement released earlier today, additional details in respect of the, in aggregate, 11,425,000 options to purchase common shares of the Company to directors, officers and employees of Southern as part of our overall compensation and employee retention program.
The Options expire five years from the date of grant, are exercisable at a price of CAD0.07 per common share, and vest as to one third on the grant date and one third on each of the first and second anniversaries of the grant date.
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About Southern Energy Corp.
Southern Energy Corp. is an oil and 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.