Southern reported Q2’21 results on Monday. Operating EBITDAX was C$2.2mm down from C$2.4mm in Q1’21 due to a lower realised gas price and 3.5% lower production, however EBITDAX was almost double the result from a year ago. Excluding the AIM listing costs the adjusted funds flow from operations was C$1.2mm and capex was just C$44k. Free cash flow prefinancing was C$0.6mm. Average production was 12.5mmcfe/d (2,078 boe/d), 92% natural gas in Q2’21, an increase of 6% y/y largely due to the Mechanics ....
