SOUTHERN REALTY CO DECLARES DIVIDEND

November 22, 2023

FOR IMMEDIATE RELEASE: 

SOUTHERN REALTY CO DECLARES DIVIDEND

          Southern Realty Co. (SRLY) announced the declaration of a special dividend to shareholders of Three Dollars ($3.00) per share payable January 2, 2024, to shareholders of record as of the close of business on December 20, 2023.

Forward-Looking Information

 All statements, other than statements of historical fact, are Forward-Looking Statements. Forward-Looking Information typically contains statements with words such as "anticipate", "believe", "plan", "continuous", "estimate", "expect", "may", "will", "project", "potential", "hope", "should", or similar words suggesting future outcomes. Many of the Company’s statements referred to herein are its Forward-Looking Statements. Actual results may differ materially from those projected in any Forward-Looking Statement. Investors should not rely on Forward-Looking Statements because they are subject to a wide variety of contingencies and based on a number of assumptions, which may not prove to be true. There can be no assurance that anyone will drill on the Company's mineral interests or that any minerals or hydrocarbons will be found; or if found, that they will be in paying quantities, that there will be a market therefor or a pool with the Company's interest.  Also, there can be no assurance that any drilling will not be delayed or prevented by acts of governments, agencies, courts, or environmentalists.  Additionally any success in wells is highly dependent not only on it exploratory efforts, but its financing, prevailing prices for oil and gas, ability to track and retain qualified subcontractors, delays or changes in  plans, competition for and/or inability to retain drilling rigs or other services; competition for, among other things, capital, acquisitions of reserves and resources, undeveloped lands, skilled personnel and supplies; risks associated with uncertainty of resource estimates; governmental regulation of the oil and gas industry, including SB 4, the Governor, and other environmental regulation; geological, technical, drilling processing problems and other difficulties in producing reserves; the uncertainty of estimates and projections of production costs and expenses; unanticipated operating events or performance which can reduce production or cause production to be shut in or delayed; incorrect assessments of the value of acquisitions; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in prices for oil and natural gas; liabilities inherent in oil and natural gas operations; access to capital and other factors.

 Furthermore, there can be no assurance that the entity with which the Company has surface rights agreements relating to solar projects will fully develop and much later fully dismantle the solar projects. There can be no assurance that any project will not be delayed or prevented by acts of government agencies, including the Governor, Courts, or environmentalists. Additionally, the entity’s ability to develop its solar projects is highly dependent on its financing, prevailing prices for electricity, ability to track and retain qualified subcontractors, interest rates, delays or changes in competition for services or goods, including prices for polysilicon, government restrictions, and government incentives, including tax incentives, for solar projects.  In addition, there are other risk factors affecting business generally which might affect the Company, including but not limited to, overall economic conditions, changes in tax, environmental or other laws or regulations, prevailing prices for oil and gas, and the effect of actions taken by competitors and regulatory authorities.  You should not place undue reliance on these Forward-Looking Statements, which speak only as of the date hereof. Unless legally required, the Company undertakes no obligation to update publicly any Forward-Looking Statements, whether as a result of new information, further events, or otherwise.

Contact:  Roger L. McNitt
(619) 813-2833