SEDAR Interim Financial Statements
[ { "companyName": "SOUTHERN ENERGY CORP.", "reportingPeriodEnd": "2025-09-30", "reportStatus": "Unaudited", "auditorName": null, "auditorKeyMatters": [], "balanceSheet": { "cashAndCashEquivalents": 962, "accountsReceivableAndOther": 1822, "prepaidExpensesAndDeposits": 1166, "derivativeAssets": 15, "totalCurrentAssets": 3965, "propertyPlantAndEquipment": 46371, "rightOfUseAssets": 290, "totalAssets": 50626, "accountsPayableAndAccruedLiabilities": 2655, "royaltiesPayable": 7055, "currentPortionOfLeaseLiabilities": 133, "currentPortionOfCreditFacility": 2830, "warrantLiability": 2403, "convertibleDebentures": 0, "derivativeLiabilitiesCurrent": 604, "totalCurrentLiabilities": 15680, "leaseLiabilities": 238, "derivativeLiabilitiesNonCurrent": 356, "creditFacility": 11714, "decommissioningProvisions": 7518, "totalLiabilities": 35506, "shareCapital": 84232, "equityComponentOfConvertibleDebenture": 0, "warrants": 0, "contributedSurplus": 8499, "deficit": -76760, "accumulatedOtherComprehensiveLoss": -851, "totalShareholdersEquity": 15120, "cashPerShare": 0.0029, "workingCapitalPerShare": -0.0348 }, "incomeStatement": { "threeMonthsEndedSep302025": { "petroleumAndNaturalGasRevenue": 4340, "royalties": -882, "productionAndOperating": 1518, "transportation": 186, "depletionDepreciationAndAmortization": 1468, "gainOnDerivatives": -1101, "lossOnDebtModification": 0, "lossOnDebtExtinguishment": 0, "gainOnWarrantRevaluation": -498, "lossOnSaleOfAssets": 0, "financingNet": 524, "generalAndAdministrative": 934, "shareBasedCompensation": 61, "transactionCosts": 15, "gainLossOnForeignExchange": -111, "totalNetEarningsLossForThePeriod": 462, "currencyTranslationAdjustment": -63, "comprehensiveIncomeLossForThePeriod": 399, "netEarningsLossPerCommonShareBasic": 0.00, "netEarningsLossPerCommonShareDiluted": 0.00 }, "threeMonthsEndedSep302024": { "petroleumAndNaturalGasRevenue": 3480, "royalties": -685, "productionAndOperating": 1431, "transportation": 347, "depletionDepreciationAndAmortization": 1617, "gainOnDerivatives": -724, "lossOnDebtModification": 0, "lossOnDebtExtinguishment": 0, "gainOnWarrantRevaluation": 0, "lossOnSaleOfAssets": 198, "financingNet": 757, "generalAndAdministrative": 883, "shareBasedCompensation": 99, "transactionCosts": 176, "gainLossOnForeignExchange": 73, "totalNetEarningsLossForThePeriod": -2062, "currencyTranslationAdjustment": 35, "comprehensiveIncomeLossForThePeriod": -2027, "netEarningsLossPerCommonShareBasic": -0.01, "netEarningsLossPerCommonShareDiluted": -0.01 }, "nineMonthsEndedSep302025": { "petroleumAndNaturalGasRevenue": 13450, "royalties": -2730, "productionAndOperating": 4784, "transportation": 711, "depletionDepreciationAndAmortization": 4268, "gainOnDerivatives": -233, "lossOnDebtModification": 228, "lossOnDebtExtinguishment": 59, "gainOnWarrantRevaluation": -369, "lossOnSaleOfAssets": 0, "financingNet": 1745, "generalAndAdministrative": 2829, "shareBasedCompensation": 52, "transactionCosts": 322, "gainLossOnForeignExchange": 152, "totalNetEarningsLossForThePeriod": -3828, "currencyTranslationAdjustment": 82, "comprehensiveIncomeLossForThePeriod": -3746, "netEarningsLossPerCommonShareBasic": -0.01, "netEarningsLossPerCommonShareDiluted": -0.01 }, "nineMonthsEndedSep302024": { "petroleumAndNaturalGasRevenue": 12163, "royalties": -2418, "productionAndOperating": 4528, "transportation": 1116, "depletionDepreciationAndAmortization": 5471, "gainOnDerivatives": -934, "lossOnDebtModification": 1379, "lossOnDebtExtinguishment": 0, "gainOnWarrantRevaluation": 0, "lossOnSaleOfAssets": 417, "financingNet": 2310, "generalAndAdministrative": 2889, "shareBasedCompensation": 330, "transactionCosts": 176, "gainLossOnForeignExchange": -132, "totalNetEarningsLossForThePeriod": -7805, "currencyTranslationAdjustment": -66, "comprehensiveIncomeLossForThePeriod": -7871, "netEarningsLossPerCommonShareBasic": -0.05, "netEarningsLossPerCommonShareDiluted": -0.05 } }, "cashFlowStatement": { "threeMonthsEndedSep302025": { "netEarningsLossForThePeriod": 462, "depletionDepreciationAndAmortization": 1468, "financingExpense": 533, "unrealizedGainLossOnDerivatives": -884, "unrealizedGainLossOnForeignExchange": -112, "lossOnDebtModification": 0, "lossOnDebtExtinguishment": 0, "gainOnWarrantRevaluation": -498, "lossOnDisposition": 0, "shareBasedCompensation": 61, "decommissioningProvisionsLiabilitiesSettled": -1, "changesInNonCashWorkingCapital": -98, "netCashProvidedByOperatingActivities": 931, "capitalExpenditures": -340, "proceedsFromDispositions": 0, "changesInNonCashWorkingCapitalInvesting": -1153, "netCashUsedProvidedByInvestingActivities": -1493, "proceedsFromShareIssuancesNet": 0, "paydownOfLongTermDebt": -648, "paymentOfInterest": -558, "financeLeasePayments": -42, "transactionCostsOnDebtRefinance": 0, "changesInNonCashWorkingCapitalFinancing": 0, "netCashUsedByFinancingActivities": -1248, "netDecreaseIncreaseInCashAndCashEquivalents": -1811, "effectOfForeignExchangeRateChanges": 189, "cashAndCashEquivalentsBeginningOfPeriod": 2584, "cashAndCashEquivalentsEndOfPeriod": 962 }, "threeMonthsEndedSep302024": { "netEarningsLossForThePeriod": -2062, "depletionDepreciationAndAmortization": 1617, "financingExpense": 769, "unrealizedGainLossOnDerivatives": -146, "unrealizedGainLossOnForeignExchange": 77, "lossOnDebtModification": 0, "lossOnDebtExtinguishment": 0, "gainOnWarrantRevaluation": 0, "lossOnDisposition": 198, "shareBasedCompensation": 99, "decommissioningProvisionsLiabilitiesSettled": -3, "changesInNonCashWorkingCapital": 723, "netCashProvidedByOperatingActivities": 1272, "capitalExpenditures": -487, "proceedsFromDispositions": 2004, "changesInNonCashWorkingCapitalInvesting": -411, "netCashUsedProvidedByInvestingActivities": 1106, "proceedsFromShareIssuancesNet": 0, "paydownOfLongTermDebt": 0, "paymentOfInterest": -671, "financeLeasePayments": -33, "transactionCostsOnDebtRefinance": -1, "changesInNonCashWorkingCapitalFinancing": 90, "netCashUsedByFinancingActivities": -615, "netDecreaseIncreaseInCashAndCashEquivalents": 1763, "effectOfForeignExchangeRateChanges": 3, "cashAndCashEquivalentsBeginningOfPeriod": 1522, "cashAndCashEquivalentsEndOfPeriod": 3288 }, "nineMonthsEndedSep302025": { "netEarningsLossForThePeriod": -3828, "depletionDepreciationAndAmortization": 4268, "financingExpense": 1772, "unrealizedGainLossOnDerivatives": -109, "unrealizedGainLossOnForeignExchange": 178, "lossOnDebtModification": 228, "lossOnDebtExtinguishment": 59, "gainOnWarrantRevaluation": -369, "lossOnDisposition": 0, "shareBasedCompensation": 52, "decommissioningProvisionsLiabilitiesSettled": -6, "changesInNonCashWorkingCapital": -639, "netCashProvidedByOperatingActivities": 1606, "capitalExpenditures": -2808, "proceedsFromDispositions": 0, "changesInNonCashWorkingCapitalInvesting": 933, "netCashUsedProvidedByInvestingActivities": -1875, "proceedsFromShareIssuancesNet": 3609, "paydownOfLongTermDebt": -3139, "paymentOfInterest": -1754, "financeLeasePayments": -70, "transactionCostsOnDebtRefinance": -1, "changesInNonCashWorkingCapitalFinancing": -3, "netCashUsedByFinancingActivities": -1358, "netDecreaseIncreaseInCashAndCashEquivalents": -1628, "effectOfForeignExchangeRateChanges": 202, "cashAndCashEquivalentsBeginningOfPeriod": 2388, "cashAndCashEquivalentsEndOfPeriod": 962 }, "nineMonthsEndedSep302024": { "netEarningsLossForThePeriod": -7805, "depletionDepreciationAndAmortization": 5474, "financingExpense": 2341, "unrealizedGainLossOnDerivatives": 1465, "unrealizedGainLossOnForeignExchange": -117, "lossOnDebtModification": 1379, "lossOnDebtExtinguishment": 0, "gainOnWarrantRevaluation": 0, "lossOnDisposition": 417, "shareBasedCompensation": 330, "decommissioningProvisionsLiabilitiesSettled": -9, "changesInNonCashWorkingCapital": 179, "netCashProvidedByOperatingActivities": 3654, "capitalExpenditures": -816, "proceedsFromDispositions": 3364, "changesInNonCashWorkingCapitalInvesting": -3241, "netCashUsedProvidedByInvestingActivities": -693, "proceedsFromShareIssuancesNet": 0, "paydownOfLongTermDebt": -745, "paymentOfInterest": -1939, "financeLeasePayments": -105, "transactionCostsOnDebtRefinance": -53, "changesInNonCashWorkingCapitalFinancing": 85, "netCashUsedByFinancingActivities": -2757, "netDecreaseIncreaseInCashAndCashEquivalents": 204, "effectOfForeignExchangeRateChanges": -28, "cashAndCashEquivalentsBeginningOfPeriod": 3112, "cashAndCashEquivalentsEndOfPeriod": 3288 } }, "investmentsAndOtherAssets": [ { "type": "Mineral/Resource Properties", "description": "Petroleum and natural gas assets", "ownershipPercentage": 100, "value": 46256, "notes": "Part of property, plant and equipment; value from Note 3 as of September 30, 2025" } ], "shareStructure": { "authorizedShares": "unlimited", "issuedShares": 336254953, "classesOfShares": ["common shares", "preferred shares"], "warrants": [ { "number": 65435521, "exercisePrice": 0.09, "expiryDate": "2028-04-08", "notes": "Fundraising Warrants from Prospectus Offering, exercise price in CAD" }, { "number": 37047152, "exercisePrice": 4.8, "expiryDate": "2028-04-08", "notes": "Fundraising Warrants from Placing, exercise price in pence" }, { "number": 4932804, "exercisePrice": 0.07, "expiryDate": "2028-04-08", "notes": "Compensation Warrants, exercise price in CAD" } ], "options": [ { "number": 7035625, "exercisePrice": 0.62, "expiryDate": null, "notes": "Stock options with weighted average exercise price in CAD; expiry dates not specified" } ], "rightsConvertibleInstruments": null }, "managementCompensation": { "currency": "USD", "periods": {}, "namedIndividuals": [], "otherRelatedPartyTransactions": [] }, "subsequentEvents": [] } ]