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Southern Energy Corp. Postpones Release Date of 2019 Year-end results
Southern Energy Corp. Postpones Release Date of 2019 Year-end results Canada NewsW...
About this update from Southern Energy Corp.
[{"type":"text","content":"\n\n\n\nSouthern Energy Corp. Postpones Release Date of 2019 Year-end results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, April 28, 2020\n\n\n\nCALGARY, April 28, 2020 /CNW/ - Southern Energy Corp. (\"Southern\" or the \"Company\") (SOU: TSXV) announces that, as a result of logistical issues and delays caused by COVID-19, it will postpone the filing of its audited consolidated financial statements, management's discussion and analysis (\"MD&A\") and annual information form, inclusive of the reserves disclosure required by National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities, for the year ended December 31, 2019 (collectively, the \"Year-End Filings\"), in reliance on the exemption provided in ASC Blanket Order 51-517 – Temporary Exemption from Certain Corporate Finance Requirements (and similar exemptions provided by the other Canadian securities regulators). The Company will file the Year-End Filings no later than May 15, 2020.\nUntil the Company has filed the Year-End Filings, members of the Company's management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.\nAn update on material business developments since the filing of the Company's interim financial statements and accompanying MD&A for the period ended September 30, 2019 is described below, certain of which have already been disclosed in prior press releases:\nForce majeure event in Mechanicsburg field resulting in the temporary shut-in of approximately 550 boe/d (80% natural gas). This represents approximately 23% of Southern's current volumes. The situation is expected to be resolved by the third-party pipeline and gathering services provider and production is expected to resume in June 2020.About Southern Energy Corp.\nSouthern Energy Corp. is an oil and natural gas exploration and production company. Southern has a primary focus on acquiring and developing ...