Southern Energy Corp. (TSXV:SOU) has entered into a definitive agreement to acquire remaining interest in Gwinville Field from PetroTx Energy LLC for $3.2 million on May 23, 2023. The cash consideration payable under the Transaction of $3.2 million will be funded through existing capacity from the senior secured term loan. The effective date and proposed closing date of the Transaction is June 1, 2023. The Transaction is highly accretive to Southern from an operating and financial perspective. Hannam & Partners acting as financial advisor to the Southern Energy Corp. in relation to the Transaction.

Southern Energy Corp. (TSXV:SOU) acquired remaining interest in Gwinville Field from PetroTx Energy LLC on June 1, 2023. James Spinney and James Bellman of Strand Hanson acted as financial advisors to Southern Energy Corp. in the transaction.