Buccaneer Energy Limited (ASX:BCC) Acquisition Of Additional Working Interest From Chevron Corporation (NYSE:CVX)
Sydney, Aug 24, 2010 AEST (ABN Newswire) - Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) ("Buccaneer" or "the Company") is pleased to advise that its wholly owned subsidiary Buccaneer Alaska, LLC has entered into a binding agreement with Chevron Corporation (NYSE:CVX) to acquire the remaining 50% working interest (2,506 net acres) that it does not already own in 2 leases on its North Middle Ground Shoal (Southern Cross Unit) structure in the Cook Inlet, Alaska.
This acquisition gives the Company a 100% WI in all the leases that cover the North Middle Ground Shoal structure, which equates to a net 10,108 acres.
Please view the following link for a fact sheet on the project and a map showing its location within the Cook Inlet, Alaska.
About Beam Communications Holdings Ltd
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.
Beam Communications Holdings Ltd