I've been adding lately. I bought most of my shares several months ago but the Farm In announcement is very positive. If a "large public US energy company" is willing to commit that much money to Buccaneer's several projects, I think that adds a lot of credibility to their portfolio. I've always liked the above market prices for ngas in Cook Inlet AND the rebates from Alaska for drilling there.
But IF they can get the Farm In closed, they will have drilling money for the next 18-24 months. No more stock issuance!!!
I got discouraged when they issued that big chunk at .04 in addition to the already huge share count.
So my enthusiasm is higher for Buccaneer lately and I've been scraping together little bits of money to buy more. My enthusiasm doesn't mean much, though. If they don't sign the Farm In, there will be lots of pain for Buccaneer holders.
So watch for Cosmos test results but most of all, watch for the Farm In announcement. That will signal a new era for Buccaneer. They will have multiple chances, funded by a big player, to strike it rich! One bad result won't stop the program. And presumably the big player will have experts helping determine where to drill to increase our chances.
Avast ye Matey, the Pirates of Buccaneer Energy have treasure to plunder!
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If the Commodities Boom is Over, I am just a Gold Bug headed for the Windshield of LIFE
