Quarterly Activities and Cashflow Report
Sydney, April 30, 2013 AEST (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) is pleased to present its quarterly report for the 3 months to 31 March 2013.
The last 3 months have again been an exceptionally busy period for the Company.
The highlights up until the date of this report are as follows:
- Quarterly Gross Production Revenue of US$5.1 million
- Successfully commenced production from Kenai Loop #4 well
- Average 12 month Operating Netbacks of US$5.16 / MCF
- Kenai Loop Proved Developed Reserves increase by 98%
- New Gas Contract at US$6.80 / MCF
- Completed construction of permanent Kenai Loop production facilities
- Completed sub-surface work to finalise Kenai Loop #2 well location
- All ABS and US Coast Guard certifications received for the Endeavour jack-up rig
- Cosmo Plan of Operations, Oil Spill Plan and Well Permit approved
- Mobilised Endeavour to Cosmopolitan location
- Cosmo #1 30" well conductor driven
- Launched $36.5 Million Entitlement Issue
- Appointed Canaccord Genuity (Australia) Limited to advise on strategic alternatives
yy Change of Control Proposal Received
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BCC-733050.pdf
Contact
Buccaneer Energy Limited
T: +61-2-9233-2520
F: +61-2-9233-2530
WWW: www.buccenergy.com
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