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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: CpsOmis who wrote (4796)	5/21/2001 1:48:50 PM
From: CpsOmis	Respond to of 23153

SMOP merger moved back a week to allow for all people to make their stock elections: Monday May 21, 2001 01:25 PM Company Press Release SOURCE:Southern Mineral Corporation PetroCorp and Southern Mineral Expect Merger to Close on or About June 6, 2001 HOUSTON, May 21 /PRNewswire/ -- Southern Mineral Corporation (OTC Bulletin Board: SMOP.OB) and PetroCorp Incorporated (Amex: PEX) today announced that the date of their proposed merger, originally scheduled for on or about May 30, 2001, has been moved to on or about June 6, 2001. The final date for receipt of stock elections previously set at May 29, 2001, has been moved to June 5, 2001. In connection with the extension of the closing date, Southern Mineral and PetroCorp have amended the terms of the merger agreement to extend the termination date of the merger agreement from May 31, 2001 to June 7, 2001. The stock election forms mailed on May 8, 2001, inadvertently were mailed only to shareholders of record and not to beneficial owners. The extension of the stock election deadline is to allow beneficial owners sufficient time to elect PetroCorp stock in the merger. The delay in closing the merger with PetroCorp does not represent a material change in the economic or contractual terms of the agreement. Stock election forms have since been mailed to all beneficial holders of Southern Mineral common stock with instructions regarding how to make an election. Instructions were also mailed to Southern Mineral warrant holders describing how to exercise their warrants and make a stock election prior to expiration of the stock election period. For an election to be valid, a form must be delivered to the transfer agent by shareholders not later than 5:00 p.m., New York City time, on June 5, 2001. Southern Mineral Corporation is an independent oil and gas company engaged in the acquisition, exploitation, exploration and operation of oil and gas properties, primarily along the Gulf Coast of the United States, in Canada and in Ecuador. The Company's common stock and perpetual warrants are quoted on the OTC Bulletin Board under the trading symbols "SMOP.OB" and "SMOPW.OB", respectively. This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The projections and statements reflect the Company's current views with respect to future events and financial performance that involve risks and uncertainties including price volatility, production levels, drilling results, capital availability, successful negotiations with other parties, evaluation of opportunities, operational and other risks, uncertainties and factors described from time to time in the Company's publicly available SEC reports. Actual results may differ materially from those projected.

To: CpsOmis who wrote (4796)	5/21/2001 2:00:32 PM
From: The Ox	Respond to of 23153

hi Cos, Can't help you with that one. Hopefully someone else will jump in and give their 2 cents worth. mh

To: CpsOmis who wrote (4796)	5/21/2001 2:06:37 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 23153

Cosmo, In re SMOP: As the wise man once said, "In theory there's no difference between theory and practice. In practice, there is." If you could ascertain how many PEX shares you would receive and you could borrow them and sell them at today's price, you could lock in the additional spread. Pex has so far only traded 25,000 shares today; any short selling in size might have an effect. There's no guarantee you could locate the shares either. But if you could and you were willing to take the deal risk, then it's a guaranteed gain. And, you could go out to the market and buy more SMOP to continue the play, if you could be certain of PEX shares worth $5+ per SMOP share you buy for $4.74.