CALGARY, June 20, 2019 /CNW/ - Southern Energy Corp. ("Southern" or the "Company") (SOU: TSXV), a U.S.-focused, growth-oriented oil and natural gas producer, announces that pursuant to the Company's Stock Option Plan (the "Plan"), an aggregate of 19,400,000 stock options to purchase common shares of the Company ("Options") were granted to directors, officers and employees of Southern as part of our overall compensation and employee retention program and represent the first grant of Options since Southern's recapitalization in December of 2018. The Options expire five years from the date of grant and are exercisable at a price of $0.10 per common share. The Options vest in equal instalments annually over three years from the date of grant.
About Southern Energy Corp.
Southern Energy Corp. is an oil and natural gas exploration and production company with a primary focus on developing conventional and unconventional light oil and natural gas resources in the Southeast Gulf States of Mississippi, Alabama, and Louisiana. Our management team has extensive experience with developing assets through the utilization of horizontal drilling and multi-staged fracture completion techniques. We have a long and successful history of working together as a team and have created significant shareholder value through high quality engineering and geoscience work.
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SOURCE Southern Energy Corp.
For further information: Southern Energy Corp., Suite 2400, 333 - 7th Avenue S.W., Calgary, Alberta T2P 2Z1; Ian Atkinson, President & CEO, Tel: (587) 287-5401 or Calvin Yau, V.P. Finance & CFO, Tel: (587) 287-5402, www.southernenergy.ca