Buccaneer Energy Limited (ASX:BCC) Lee County Project Operational Update

Sydney, May 25, 2010 AEST (ABN Newswire) - Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) ("Buccaneer" or "the Company") is pleased to provide the following operational update.

Vick # 2

The Vick # 2 well was shut-in following its initial production tests on Tuesday, 17 May to install production tubing. The well was completed with 2 3/8 inch tubing. To ensure safety for production equipment installation load water was injected into the well. The well is currently being swabbed to remove load water and recommence production testing.

Vick # 1

The Vick #1 well is currently shut-in waiting to be swabbed after equipment finishes on the Vick #2. This swabbing will yield performance information to aid in designing the pumping equipment for production operations, which have not yet commenced.

Vick #3

Site selection is ongoing for the Vick #3 well.

The participants in the Lee County project are as follows:

Participant                  Working InterestBuccaneer Resources*            52.50%Sandstone Energy                38.75%Megashine International Ltd      8.75%

* A wholly owned subsidiary of Buccaneer Energy Limited

Contact

Dean Gallegos Director Mob:+61-416-220-007 Ph: +61-2-9233-2520 Website: www.buccenergy.com