Buccaneer Energy (BCC)

Shares / Stock Code

BCC

Stock Exchange / Sharemarket

Australian Securities Exchange

Buccaneer Energy (BCC) is an upstream oil and gas company. It specialises in the development and expansion of behind-pipe proved and probable reserves and low-risk exploration plays with growth potential. the company's growth strategy is focused on the progressive expansion of oil and gas production and reserves by acquiring significant working interests in low-cost, low-risk development properties that possess a significant undeveloped upside.

The Company drilled a third Pompano well in August 2008 and discovered one productive shallow zone with the deeper main target reservoir not being encountered. The well has been suspended until commodity prices improve to allow the shallow zone to be economically viable. Pompano clearly illustrates Buccaneer’s business model: BCC acquired Pompano as a previously produced shallow water GoM Shelf asset with significant booked reserves, potential for reserve growth and exploration upside and existing infrastructure.

The Company’s first well found three pay intervals and was placed on production 17 days after completion (an exceptionally short time to bring a well from completion to revenue generation). Buccaneer Energy second Pompano well was also successful and placed on production less than one month after completion. In addition, the Company operates in Australia and the United States. Buccaneer’s advanced and cornerstone project is the Pompano Field located approximately 90 miles southwest of Houston and 30 miles east of Port O’Connor, Texas. The Company’s others prospects include Cove Deep Prospect, Lee County Prospect and Bright Star.

Buccaneer Energy (BCC) Products and Services

  • Exploration and development of oil and gas tenements

Buccaneer Energy (BCC) Locations and Subsidiaries

Buccaneer Energy Head Office
25 Bligh Street, Level 15,
SYDNEY, NSW 2000

Phone: (02) 9233 2520
Fax: (02) 9233 2530

Buccaneer Energy (BCC) Share Price

Submitted by ASX Listed Company on 4 March, 2010 - 01:00

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