Buccaneer Energy Limited (ASX:BCC) Successful Bids At Cook Inlet Lease Sale
Sydney, June 8, 2010 AEST (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) (PINK:BCGYF) ("Buccaneer" or "the Company") is pleased to advise that its wholly owned subsidiary Buccaneer Alaska, LLC submitted high bids of $267,760 on 3 leases (11240 acres) at the Cook Inlet 2010 Area wide Lease Sale.
Two of the successful leases are located on the Northwest Cook Inlet and West Eagle prospects and consolidates our position on the acreage previously acquired from Stellar Oil & Gas, LLC and will give the Company a controlling position on both of these high potential opportunities.
The third lease is a new prospect called West Nicolai Creek. This prospect is a 3-way fault assisted dip closure with strong anomalous seismic amplitudes suggesting that hydrocarbons are trapped in the highly prospective Beluga and Tyonek sands found from the surface to approximately 5,000 feet. The West Nicolai Creek gas prospect appears to be identical in structural and stratigraphic character to the nearby shallow northern portion of the producing Nicolai Creek Field.
The leases acquired were as follows:
Prospect Gross Acreage Working InterestNWCI 1120 100.0%West Eagle 5120 100.0%West Nicolai 5000 100.0%*
*AMI requirement to offer 50% to prior owner.
For the complete Buccaneer Energy announcement including figures, please view the following link:
http://www.abnnewswire.net/media/en/docs/63036-ASX-BCC-595112.pdf
Contact
Dean Gallegos
Director
Mob:+61-416-220-007
Ph: +61-2-9233-2520
Website: www.buccenergy.com
| ||
|
