Beam Communications Holdings Ltd

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to advise that the Alaska Department of Environmental Conservation has reviewed Buccaneer's February 1, 2011 permit application for the offshore Cook Inlet Exploratory Drilling project and has issued a preliminary decision to approve the permit application.

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to advise that the board of the Alaskan Industrial Development and Export Authority voted unanimously at its board meeting on 1 April 2011 (US time) / 2 April 2011 (Australian time) to invest up to US$30.0 million, as a joint owner, in the acquisition of a jack-up rig.

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to advise that the board of the Alaskan Industrial Development and Export Authority ("AIDEA") is due to meet on 1 April 2011 (US time) / 2 April 2011 (Australian time) to consider and vote on the investment by AIDEA of up to US$30.0 million to acquire a jack-up rig for use in the Cook Inlet and other Alaskan waters.

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to provide the following detailed information on the Kenai Loop project located on the eastern side of the Cook Inlet basin near the city of Kenai, Alaska.

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to advise that it has entered into a contract for a rig to drill the Kenai Loop project. The contract has been executed with Marathon Oil Company for the Glacier Drilling Rig # 1. The rig has been used for several similar wells in the area and its experienced crews make it a preferred choice for Buccaneer's first well in Alaska.

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to advise that it has entered into an oil and gas lease with the Cook Inlet Regional Corporation in respect to a 100% working interest of an additional tract at the Company's Kenai Loop project.

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to advise that the construction of the drill pad and access roads to the site of the Kenai Loop # 1 well has commenced.

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to advise that it will be undertaking a Shareholders Purchase Plan to raise up A$16,596,485 by the issue of up to 174,699,846 shares at an issue price of A$0.095 per share.

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to advise that it has reached an agreement by mutual consent for the early termination of the convertible loan funding facility with SpringTree Special Opportunities Fund, LP ("SpringTree").

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) advise that the Board of the Alaska Industrial Development & Export Authority has approved the expenditure of additional funds up to A$200,000 which will be used to further develop a variety of definitive agreements that would authorize the Authority to invest US$30.0 million for the purpose of acquiring, modifying and mobilising a jack-up rig to operate in the Cook Inlet, Alaska.