SOUC Southern Energy Corp.

SOUTHERN ENERGY CORP. ANNOUNCES STOCK OPTION GRANT

Calgary, Alberta - July 17, 2024 - Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU) (AIM:SOUC) (OTCQX:SOUTF) announces that pursuant to the Company's Stock Option Plan, an aggregate of 3,102,500 stock options ("Options") to purchase common shares of the Company ("Common Shares") were granted as part of Southern's overall compensation and employee retention program.  

The Options expire in five years from the date of the grant and are exercisable at a price of CAD$0.175 per Common Share, being the closing market price on the TSXV on the day prior to this announcement. The Options vest as to one third on the grant date and one third on each of the first and second anniversaries of the grant date. 

In aggregate, 1,642,000 of the Options were issued to directors and persons discharging managerial responsibilities ("PDMR") of the Company, as set out below:

For further information about Southern, please visit our website at www.southernenergycorp.com or contact:

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 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.

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.

PDMR NOTIFICATION FORMS