Southern Energy Corp -13.5% potential downside indicated by Canaccord Genuity

Southern Energy Corp with ticker (LON:SOUC) now has a potential downside of -13.5% according to Canaccord Genuity.



Canaccord Genuity set a target price of 20 GBX for the company, which when compared to the Southern Energy Corp share price of 23 GBX at opening today (31/05/2023) indicates a potential downside of -13.5%. Trading has ranged between 16 (52 week low) and 91 (52 week high) with an average of 449,199 shares exchanging hands daily. The market capitalisation at the time of writing is £52,730,813.

Southern Energy Corp. is a Canada-based natural gas exploration and production company. The Company 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. It has three assets in the Mississippi Interior Salt Basin (MISB), which include the Gwinville, Mechanicsburg, and Mount Olive East fields. It operates and owns a working interest in over 12,000 held by the production acres of land in the Gwinville field. It operates and owns a working interest in approximately 3,450 held by the production acres of land in the Mechanicsburg field. The Company operates and owns a working interest in over 1,415 held production acres of land in the Mount Olive East field. It owns and operates production from a number of other fields in the MISB within 40 miles of Gwinville, including Greens Creek and Williamsburg South gas fields, along with minor oil production from the Magee field.