Quarterly Activities and Cashflow Report June 2012
Sydney, July 31, 2012 AEST (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) is pleased to present its quarterly report for the three months to 30 June 2012. The last three months have been a busy time for the company as we prepare to commence onshore and offshore drilling programs in the Cook Inlet, Alaska.
The highlights up until the date of this report are as follows:
- Excellent production performance at the Kenai Loop project
- Very encouraging 3D seismic results at Kenai Loop
- Preparing to spud Kenai Loop # 4 well onshore Cook Inlet, Alaska
- West Eagle drilling site identified and permitting commenced
- Endeavour jack-up rig repairs and modifications completed
- Endeavour jack-up rig mobilised to Cook Inlet, Alaska
- Completed a long term lease for the Glacier # 1 drilling rig with an option to purchase
- Completed and drawn on new US$20.0 million project finance facility
- Completed and drawn on new US$30.0 million ACES receivable revolving credit facility
- Raised $12.0 million through an institutional equity raise
- New Singapore based cornerstone shareholder
- Announced $1.5 million Share Purchase Plan ("SPP")
- Received US$12.8 million in ACES tax rebates from the State of Alaska
For the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BCC-688046.pdf
Contact
Buccaneer Energy Limited
T: +61-2-9233-2520
F: +61-2-9233-2530
WWW: www.buccenergy.com
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