Southern Energy Management

Management criteria checks 3/4

Southern Energy's CEO is Ian Atkinson, appointed in Dec 2018, has a tenure of 5.92 years. total yearly compensation is $290.89K, comprised of 64.9% salary and 35.1% bonuses, including company stock and options. directly owns 1.75% of the company’s shares, worth £179.19K. The average tenure of the management team and the board of directors is 5.9 years and 5.9 years respectively.

Key information

Ian Atkinson

Chief executive officer

US$290.9k

Total compensation

CEO salary percentage	64.9%
CEO tenure	5.9yrs
CEO ownership	1.7%
Management average tenure	5.9yrs
Board average tenure	5.9yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Ian Atkinson's remuneration changed compared to Southern Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	-US$48m
Mar 31 2024	n/a	n/a	-US$49m
Dec 31 2023	US$291k	US$189k	-US$47m
Sep 30 2023	n/a	n/a	-US$6m
Jun 30 2023	n/a	n/a	US$3m
Mar 31 2023	n/a	n/a	US$10m
Dec 31 2022	US$172k	US$172k	US$9m
Sep 30 2022	n/a	n/a	US$11m
Jun 30 2022	n/a	n/a	US$9m
Mar 31 2022	n/a	n/a	US$9m
Dec 31 2021	US$146k	US$146k	US$10m
Sep 30 2021	n/a	n/a	US$11m
Jun 30 2021	n/a	n/a	US$4m
Mar 31 2021	n/a	n/a	-US$322k
Dec 31 2020	US$145k	US$145k	-US$8m
Sep 30 2020	n/a	n/a	-US$17m
Jun 30 2020	n/a	n/a	-US$15m
Mar 31 2020	n/a	n/a	-US$14m
Dec 31 2019	US$165k	US$165k	-US$8m
Sep 30 2019	n/a	n/a	-US$4m
Jun 30 2019	n/a	n/a	-US$3m
Mar 31 2019	n/a	n/a	-US$3m
Dec 31 2018	US$5k	US$5k	-US$2m

Compensation vs Market: Ian's total compensation ($USD290.89K) is about average for companies of similar size in the UK market ($USD358.67K).

Compensation vs Earnings: Ian's compensation has increased whilst the company is unprofitable.

CEO

Ian Atkinson

5.9yrs

Tenure

US$290,887

Compensation

Mr. Ian Kenneth Atkinson, MSc, P.Eng., served as Independent Director at Lycos Energy Inc. since December 12, 2022 until November 22, 2023. He has been President, Chief Executive Officer and Director at So...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Ian Atkinson	President	5.9yrs	US$290.89k	1.75% £ 179.2k
Wai-Kit Yau	Chief Financial Officer	5.9yrs	US$264.89k	0.33% £ 33.6k
Gary McMurren	Chief Operating Officer	2.3yrs	US$264.89k	0.41% £ 41.7k
Sanjib Gill	Corporate Secretary	5.9yrs	no data	no data

5.9yrs

Average Tenure

Experienced Management: SOUC's management team is seasoned and experienced (5.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Ian Atkinson	President	5.9yrs	US$290.89k	1.75% £ 179.2k
Bruce Beynon	Independent Non-Executive Chairman	5.9yrs	US$30.38k	0.54% £ 55.2k
Tamara MacDonald	Independent Non-Executive Director	5.9yrs	US$24.81k	0.072% £ 7.4k
John Nally	Independent Non-Executive Director	3.3yrs	US$21.70k	0.21% £ 21.8k
Reginald Smith	Independent Non Executive Director	5.9yrs	US$28.21k	0.52% £ 52.8k
Clifford Smith	Independent Non-Executive Director	5.9yrs	US$28.21k	0.17% £ 17.7k

5.9yrs

Average Tenure

60yo

Average Age

Experienced Board: SOUC's board of directors are considered experienced (5.9 years average tenure).

Southern Energy Management

Management criteria checks 3/4

Key information

Recent management updates

Insufficient new directors

Southern Energy Corp., Annual General Meeting, Jun 20, 2024

Southern Energy Corp. Announces Retirement of Andrew Mccreath from Board of Directors

Southern Energy Corp. Approves Director Resignations

Insufficient new directors

Southern Energy Corp. Appoints Paul Baay as Non-Executive Director

Recent updates

New minor risk - Share price stability

Insufficient new directors

Second quarter 2024 earnings released: US$0.02 loss per share (vs US$0.027 loss in 2Q 2023)

New major risk - Revenue and earnings growth

First quarter 2024 earnings released: US$0.02 loss per share (vs US$0.008 loss in 1Q 2023)

New minor risk - Profitability

Southern Energy Corp., Annual General Meeting, Jun 20, 2024

Southern Energy Corp. Announces Preliminary Results from Its Recent Upper Selma Chalk Horizontal Well Completion in the Gwinville Field

Third quarter 2023 earnings released: US$0.02 loss per share (vs US$0.049 profit in 3Q 2022)

Southern Energy Corp. Announces Retirement of Andrew Mccreath from Board of Directors

Southern Energy Corp. has completed a Follow-on Equity Offering in the amount of CAD 6.9238 million.

New minor risk - Share price stability

Southern Energy Corp. has filed a Follow-on Equity Offering in the amount of CAD 6.9355 million.

Price target decreased by 8.5% to UK£1.08

Price target decreased by 10.0% to UK£1.13

Second quarter 2023 earnings released: US$0.027 loss per share (vs US$0.034 profit in 2Q 2022)

Southern Energy Corp. Approves Director Resignations

Price target increased by 8.5% to UK£1.28

Southern Energy Corp. (TSXV:SOU) acquired remaining interest in Gwinville Field from PetroTx Energy LLC.

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.

Insufficient new directors

Full year 2022 earnings released: EPS: US$0.09 (vs US$0.24 in FY 2021)

Price target decreased by 26% to UK£1.36

Price target decreased by 8.8% to UK£1.72

Third quarter 2022 earnings released: EPS: US$0.049 (vs US$0.096 in 3Q 2021)

Price target decreased to UK£1.89

Investor sentiment improved over the past week

Second quarter 2022 earnings released: EPS: US$0.034 (vs US$0.079 in 2Q 2021)

Southern Energy Corp. Appoints Paul Baay as Non-Executive Director

Southern Energy Corp. Announcesthe Promotion of Mr. Gary Mcmurren, to the Role of Chief Operating Officer

Independent Director recently bought UK£69k worth of stock

Independent Director recently bought UK£80k worth of stock

Southern Energy Corp. has completed a Follow-on Equity Offering in the amount of CAD 22.6722 million.

Southern Energy Corp. has completed a Follow-on Equity Offering in the amount of £17.671376 million.

Insider recently bought UK£71k worth of stock

Southern Energy Corp. Announces Directorate Change

Now 21% undervalued

Southern Energy Corp. Announces Initial Results from First Gwinville Selma Chalk Horizontal Well

First quarter 2022 earnings released: US$0.02 loss per share (vs US$0.023 loss in 1Q 2021)

An unknown buyer acquired All of properties in the non-core Smackover cash generating unit of Southern Energy Corp. (TSXV:SOU) for $0.8 million.

Insufficient new directors

Southern Energy Corp., Annual General Meeting, Jun 15, 2022

Full year 2021 earnings released

An unknown buyer acquired The Remaining Assets from the Non-core Black Warrior Basin CGU from Southern Energy Corp. (TSXV:SOU) for $0.6 million.

Southern Energy Corp. Announces 73% Increase in 2P Reserves at Year End 2021 and Update on Gwinville Drilling Program

Southern Energy Corp. Announces 73% Increase in 2P Reserves at Year End 2021 and Update on Gwinville Drilling Program

Southern Energy Corp. Announces Spudding of Three Well Drilling Program

Southern Energy Corp. Announces an Update with Respect to Drilling and Operations

Non-Executive Director recently bought UK£60k worth of stock

Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations

Second quarter 2021 earnings released: EPS CA$0.01 (vs CA$0.009 loss in 2Q 2020)

Forecast to breakeven in 2021

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age