At Southern Energy, we are focused on building value through the consolidation and development of gas and oil assets in the south-eastern United States, where there are a series of mature basins with proven low-cost producing assets. In addition, the south-eastern United States is strategically located near Henry Hub, which commands premium natural gas pricing. We have controlling operated interests in properties covering approximately 30,000 net acres in the Mississippi Interior Salt Basin (“MISB”), which include our two principal properties; Mechanicsburg and Mount Olive East, and approximately 3,000 net acres in the Black Warrior Basin. The majority of our leases (97 per cent.) contain producing wells and are ‘held by production’, requiring no additional drilling or operations for the Group to maintain its existing interest.