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Sydney, Dec 8, 2011 (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) is pleased to advise that construction and pressure testing of the pipeline connecting the Kenai Loop #1 well to the local gas pipeline has been completed.
Interconnecting piping, electrical and instrumentation connections, and fuel gas piping of the production facilities on the Kenai Loop #1 pad are currently being installed. This installation at the Kenai Loop #1 pad will allow for more efficient and effective hook up of additional future wells.
The sales gas meters are currently being calibrated in Canada and the gas filtering equipment is being installed at the City Gate pipeline facility prior to the functional check out of the system for final permitting approval.
It is anticipated that production and sales from Kenai Loop #1 well will commence within the next 21 days.
ASX:BCC) is pleased to advise that construction and pressure testing of the pipeline connecting the Kenai Loop #1 well to the local gas pipeline has been completed.Interconnecting piping, electrical and instrumentation connections, and fuel gas piping of the production facilities on the Kenai Loop #1 pad are currently being installed. This installation at the Kenai Loop #1 pad will allow for more efficient and effective hook up of additional future wells.
The sales gas meters are currently being calibrated in Canada and the gas filtering equipment is being installed at the City Gate pipeline facility prior to the functional check out of the system for final permitting approval.
It is anticipated that production and sales from Kenai Loop #1 well will commence within the next 21 days.
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About Buccaneer Energy Limited
Buccaneer Energy Limited (ASX:BCC) is an Australian listed company focused on onshore and shallow waters of the Cook Inlet of Alaska and the Gulf of Mexico, as well as onshore Gulf Coast assets that have been left behind or overlooked by other players.
The Company has a large existing portfolio and disciplined acquisition strategy focused on opportunities with:
- Assets with attractive economics;
- Assets that have existing infrastructure in place that can be accessed;
- Assets near a commercial market that has been de-risked; and
- Assets that have multiple stacked pay targets.
Buccaneer's management team has a proven track record of finding and exploiting oil and gas reserves and generating new opportunity deal flow.
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