Buccaneer Energy Limited (ASX:BCC) Acquires Additional Lease Adjoining The North West Cook Inlet (NWCI) Prospect, Alaska

Sydney, June 16, 2010 AEST (ABN Newswire) - Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to advise that it has acquired an additional lease adjoining its Northwest Cook Inlet ("NWCI") prospect located in state waters in the Cook Inlet, Alaska.

The additional lease (annotated in blue in the attached map - refer to link at the bottom of release) was acquired from Dan Donkel & Sam Cade, the acquisition terms are confidential.

The NWCI project adjoins ConocoPhillips North Cook Inlet Unit that is currently in production supplying an export LNG facility located onshore on the Kenai Peninsula.

The North Cook Inlet Unit has produced in excess of 1.8 TCF of gas and currently produces 56 million cubic feet per day.

Many of the productive horizons in ConocoPhillips North Cook Inlet Unit extend north and east into the Company's NWCI lease area. Buccaneer is targeting these and other reservoirs that are beyond the reach of drilling from the existing ConocoPhillips production platform.

For the full Buccaneer announcment including the Northwest Cook Inlet map, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/63093-ASX-BCC-595808.pdf

Contact

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