Mr. Ian Atkinson reports

SOUTHERN ENERGY CORP. ANNOUNCES COMPLETION OF US$5 MILLION EQUITY FINANCING

Southern Energy Corp. has closed its previously announced equity financing for aggregate gross proceeds of US$5 million (approximately pounds sterling4.1 million, CAD$6.9 million) through the issue of 26,630,000 new Common Shares at a price of C$0.26 or 15.5 pence per Common Share. Defined terms used in this announcement have the same meaning given to them as defined in the Company's announcement released on 1 November 2023 unless otherwise defined herein.

The equity financing comprised of US$2.2 million via a Prospectus Offering of 10,712,387 Common Shares, US$2.8 million via a Placing of 15,853,097 Common Shares and US$0.01 million via a direct subscription with the Company for 64,516 Common Shares. The net proceeds of the Fundraising will be used by the Company to accelerate the completion of its four drilled and uncompleted wells, drilled as part of its Q1 2023 drilling campaign on its Gwinville acreage.

Admission and Total Voting Rights

The new Common Shares issued pursuant to the Fundraising were credited as fully paid, rank pari passu in all respects with the existing Common Shares and were admitted to trading on AIM at 8.00 a.m. (GMT) today ("Admission").

Following Admission of the Common Shares issued pursuant to the financing, the total number of Common Shares in the Company in issue is 165,718,160. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

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.

We seek Safe Harbor.