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Re: eom7 post# 418

Thursday, 10/17/2013 10:59:34 AM

Thursday, October 17, 2013 10:59:34 AM

Post# of 464
Buccaneer Energy Limited (ASX:BCC) Kenai Loop 1-4 Well - Additional Production Test Data

Sydney, Australia, Oct 17, 2013 - (ABN Newswire) - Buccaneer Energy Limited (ASX:BCC.AX - News) (OTCMKTS:BCGYF - News) ("Buccaneer" or "the Company") advises that the absolute open hole flow potential ("AOFP") of the perforated 24' section of the 9,700' sand in the Kenai Loop # 1-4 well is 11.5 million cubic feet per day ("MMCFD").

The perforated section successfully flowed at a rate of 5.9 MMCFD on a 20/64" choke with a flowing tubing pressure ("FTP") of 2,525 psi and no water detected. Gas was flared at the location.

The Company believes that the 24' section that was tested will produce at a stable rate of 4.5 - 5.0 MMCFD.

If the Company decides to test additional prospective zones intersected while drilling, this testing can be completed using a smaller rig. The Glacier rig is being prepared to be mobilised to the West Eagle Unit site, which is approximately 100 miles to the south of Kenai Loop, the West Eagle drill site is ready to commence drilling operations on arrival of the Glacier rig.

About Buccaneer Energy Limited:

Buccaneer Energy Limited (ASX:BCC.AX - News) is an Australian listed company focused on onshore and shallow waters of the Cook Inlet of Alaska and the Gulf of Mexico, as well as onshore Gulf Coast assets that have been left behind or overlooked by other players.

The Company has a large existing portfolio and disciplined acquisition strategy focused on opportunities with:

- Assets with attractive economics;
- Assets that have existing infrastructure in place that can be accessed;
- Assets near a commercial market that has been de-risked; and
- Assets that have multiple stacked pay targets.

Buccaneer's management team has a proven track record of finding and exploiting oil and gas reserves and generating new opportunity deal flow.

Contact:


Buccaneer Energy Limited
T: +61-2-9233-2520
F: +61-2-9233-2530
WWW: www.buccenergy.com


http://au.finance.yahoo.com/news/buccaneer-energy-limited-asx-bcc-000500305.html

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