Kenai Loop Drilling Permit Approved
Sydney, July 25, 2013 AEST (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) ("Buccaneer" or "the Company") is pleased to advise that the drilling permit for the Kenai Loop # 1-4 well has been approved by the Alaskan Oil and Gas Conservation Commission ("AOGCC").
Preparations to commence drilling operations are advanced and the well is expected to spud in the next 7 - 10 days.
Kenai Loop # 1-4 will be drilled from Drilling Pad # 1, where the existing production wells are located, using the Glacier rig that is currently on site. It will be directionally drilled to a bottom hole location 1,368' to the south-east, and is anticipated to have a Total Depth of approximately 10,900'.
The Kenai Loop # 1-4 well is designed to test targets identified through the sub-surface studies completed since the successful Kenai Loop # 1-3 (formerly Kenai Loop # 4) well, which was placed onto production in February 2013.
Contact
Buccaneer Energy Limited
T: +61-2-9233-2520
F: +61-2-9233-2530
WWW: www.buccenergy.com
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