• 3Q22 sales volumes of 3,408 boe/d were in line with expectations. 3Q22 cashflow and net cash as at the end of September were also in line with our forecasts. The ~US$2/mcf realization premium to Henry Hub achieved in 3Q22 highlights the excellent location of Southern’s assets.
• Overall production + operating cost (excluding production tax) was only ~US$0.64/mcfe. This is very low and likely to decrease further as production increases. Southern believes that US$0.5/mcf is achievable.
• The IP1 ....
