CALGARY, AB / ACCESS Newswire / September 14, 2026 / Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU)(AIM:SOUC), an established producer with natural gas and light oil assets in Mississippi, is pleased to announce that the Company has successfully drilled and cased the Terrible Creek 21-2 #2 Cotton Valley vertical well (the "Well") in the Williamsburg Field. The drilling rig was released on September 10, 2026. The Well was drilled to a total depth of approximately 18,825 feet and encountered numerous prospective sands in the Sligo, Hosston, and Cotton Valley formations. The Company will begin completion and testing operations in the Cotton Valley formation, with test results to follow once available.
Ian Atkinson, President and Chief Executive Officer of Southern, commented:
"We are very pleased with the operational performance on our first Cotton Valley well in the Williamsburg field. The well was drilled safely, on budget and from spud date to total depth in less than 22 days, making it one of the fastest wells in the area to reach depths greater than 18,500 feet. We identified several efficiencies that we expect to apply to future wells to further optimize drill times and capital costs. We are now planning the completion and testing operations and look forward to sharing those results."
Qualified Person's Statement
Gary McMurren, Chief Operating Officer, who has over 25 years of relevant experience in the oil industry, has approved the technical information contained in this announcement. Mr. McMurren is registered as a Professional Engineer with the Association of Professional Engineers and Geoscientists of Alberta and received a Bachelor of Science degree in Chemical Engineering (with distinction) from the University of Alberta.
For further information about Southern, please visit our website at www.southernenergycorp.com or contact:
| Southern Energy Corp. | |
| Ian Atkinson (President and CEO) | +1 587 287 5401 |
| Calvin Yau (CFO) | +1 587 287 5402 |
Strand Hanson Limited - Nominated & Financial Adviser | +44 (0) 20 7409 3494 |
James Bellman / Rob Patrick / Edward Foulkes | |
Tennyson Securities - Broker | +44 (0) 20 7186 9033 |
Peter Krens / Jason Woollard | |
About Southern Energy Corp.
Southern Energy Corp. is a natural gas exploration and production company characterized by a stable, low-decline production base, a significant low-risk drilling inventory and strategic access to premium commodity pricing in North America. 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 shareholder value through accretive acquisitions, optimization of existing oil and natural gas fields and re-development strategies including horizontal drilling and multi-staged fracture completion techniques.
Forward-Looking Statements
Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "continue", "evaluate", "forecast", "may", "will", "can", "target", "potential", "result", "could", "should" or similar words suggesting future outcomes or statements regarding an outlook (including negatives and variations thereof). Forward-looking information in this press release may include, but is not limited to, statements concerning the Company's asset base including the development of the Company's assets, the Company's anticipated operational results, Southern's growth strategy and the expectation that it will continue to enhance shareholder value, and the timing and conduct of completion and testing operations of, and the potential results of, the Williamsburg well.
The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by Southern, including, but not limited to, the timing and success of drilling, development, completion and testing activities at Williamsburg, the performance of the Terrible Creek 21-2 #2 well, the availability and performance of services, facilities and pipelines, the geological characteristics of Southern's properties, the successful application of completion and seismic technology, prevailing legislation, as well as regulatory and licensing requirements affecting the oil and gas industry, the Company's ability to obtain and maintain all requisite permits and licences, the availability of capital, labour and services, and the Company's ability to execute its plans and strategies.
Although Southern believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Southern can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production, the uncertainty of reserve estimates, the uncertainty of estimates and projections relating to production, costs and expenses, regulatory risks and health, safety and environmental risks), risks that drilling, completion or testing activities are delayed, unsuccessful or more costly than expected, risks that the Terrible Creek 21-2 #2 well does not achieve anticipated production, risks relating to the availability of rigs, equipment, labour, supplies, services, facilities, pipelines, capital and industry partners, commodity price and exchange rate fluctuations, credit risk, risk of default, geo-political risks, political and economic instability, hostilities, wars, civil insurrections, inflationary risks including potential increases to operating and capital costs, changes in legislation impacting the oil and gas industry, including but not limited to tax laws, royalties, environmental regulations and regulatory requirements, risks related to the Company's ability to meet its financial obligations and covenants, adverse weather or break-up conditions, and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. These and other risks are set out in more detail in Southern's latest Management Discussion and Analysis for the period ended June 30, 2026 and the Company's annual information form for the year ended December 31, 2025, which are available on the Company's website at www.southernenergycorp.com and filed under the Company's profile on SEDAR+ at www.sedarplus.ca.
The forward-looking information contained in this press release is made as of the date hereof and Southern undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Southern Energy Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/southern-energy-corp.-announces-rig-release-of-cotton-valley-test-well-at-willia-1220132
