Bluecrest Energy, Inc. - Receipt of Receivable
Sydney, Nov 18, 2013 AEST (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) (BCGYF:OTCMKTS) ("Buccaneer" or "the Company") advises that BlueCrest Energy, Inc. ("BlueCrest") has agreed with Buccaneer in respect of the final amounts payable for the Cosmopolitan # 1 well.
BlueCrest has agreed to pay the Company a total of US$5,022,503 over three instalments, with the first instalment of US$2,612,104 having been received by the Company. The final instalment will be payable by BlueCrest to the Company on or before 29 November 2013.
BlueCrest has also agreed to pay up to an additional US$750,000 of additional expenses of the Cosmopolitan # 1 well for charges by vendors that as at the current date have not levied invoices.
Contact
Buccaneer Energy Limited
T: +61-2-9233-2520
F: +61-2-9233-2530
WWW: www.buccenergy.com
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