SANTIAGO, Chile, Sept. 1, 2009 (GLOBE NEWSWIRE) -- Southern Energy Company, Inc. (Pink Sheets:SOCI) (Frankfurt:8CE), a publicly traded resource exploration company, is pleased to announce that it has commenced negotiations on an additional coal deposit located near Concepcion, Chile. The deposit is in relatively close proximity to the Company's current coal concessions in Lota Bay, Chile. The Company expects to negotiate and acquire this additional coal deposit over the next 60 days.
The Company plans to become more aggressive in its acquisition of known coal deposits in this region due in part to the recent announcement in a Santiago, Chile, newspaper by a major Korean industrial company of its development of a $2.5 Billion coal-fired electrical generation plant in the Concepcion area of Chile.
About Southern Energy Company, Inc.
Southern Energy Company, Inc. is a publicly traded resource exploration company. From 2007 to the present the company has been active in seeking out resource opportunities in North and South America to explore, develop, and produce. The Company is currently focused on the acquisition, exploration and development of coal, gold, copper and silver properties throughout South America. Currently, Southern Energy owns the Catalina Silver and Gold Property northwest of Santiago, Chile, and the two Lota Bay Coal Concessions in Lota, Chile. The Company has entered into a joint venture agreement on the Condoryacu Gold, Copper and Silver Property located in Salta Province, Argentina.
Please visit http://www.southernenergycompany.com for more information.
Forward-Looking Statements
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Southern Energy Company, Inc. please refer to its Web site at http://www.southernenergycompany.com.