Buccaneer Energy Limited (ASX:BCC) Kenai Loop - Successful Production Test

Buccaneer Energy Limited (ASX:BCC) is very pleased to advise that on Saturday 12 January 2013 (Sydney) a 10' section of the upper most sand at 10,300' measured depth was perforated, this sand correlates to the 9,700' sand in the Kenai Loop # 1 well.
In the initial stage of testing, the Kenai Loop # 4 well has successfully tested gas to the surface at a rate of 3 million cubic feet per day ("MMCFD") on a 12/64" choke with a flowing tubing pressure ("FTP") of 3365 psi with no water detected. Gas was flared at the location, see link below for image.

The well flowed uninterrupted for 24 hours and was shut-in at 11.00pm Sunday 13 January 2013 (Sydney) for 24 hours to conduct a second pressure build up test. On completion of the shut-in period, a four point test will be undertaken to establish the absolute open hole flow potential of the well. A further release will be made on completion of this testing.

A four point test is a process of flowing the well at four different choke sizes for a period of 2-4 hours for each choke size so as to measure both flow rate and FTP.

View the release and image at:
http://media.abnnewswire.net/media/en/docs/ASX-BCC-715934.pdf' target=_blank>http://media.abnnewswire.net/media/en/docs/ASX-BCC-715934.pdf' target=_blank>http://media.abnnewswire.net/media/en/docs/ASX-BCC-715934.pdf


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Limited Beam Communications Holdings Limited (formerly World Reach Limited) is an Australian publicly-listed company that specialises in the design, development, manufacture and distribution of satellite, cellular and dual-mode equipment, applications and services. Its products and services are adopted by some of the world's largest satellite and telecommunications companies, such as Iridium, Telstra, KDDI, Inmarsat & Thuraya, to fill the global needs of Information Communication & Technology markets. Beam Communications Holdings Limited owns 100% of Beam Communications Pty Ltd and SatPhone Shop Pty Ltd www.satphoneshop.com. For more information, visit www.beamcommunications.com.


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