RCS - Buccaneer Energy PLC - Contract with Bitcoin Storage and Trading Company

Buccaneer EnergyAnnouncement

18/09/2025 07:00

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RNS Number : 7814Z  Buccaneer Energy PLC  18 September 2025

 

 

Buccaneer Energy Plc

("Buccaneer" or the "Company")

 

18 September 2025

 

Contract with Bitcoin Storage and Trading Company

 

Buccaneer Energy (AIM: BUCE), an international oil & gas exploration and
production company with development and production assets in Texas, USA, is
pleased to announce that it has signed a contract with BitGo, the digital
asset infrastructure company. BitGo will serve as the Buccaneers' official
custodian through its regulated entity BitGo Trust Company, Inc. The
partnership will also include trading support through BitGo's OTC platform,
offering seamless access to liquidity.

 

As noted in the Company's announcement on 19 August 2025, as part of the
future Fouke area development in Pine Mills, the Company proposes to monetise
its expected gas production from the development wells by partnering with a
Bitcoin miner to power a Bitcoin mining operation. In preparation for the
potential future receipt of revenues in Bitcoin from this activity, the
Company is establishing procedures and processes to handle, store, and trade
in Bitcoin.  The contract with BitGo is an important step in this process.

 

The implementation of a successful strategy to monetise this gas is subject to
a number of further steps including the drilling result from the new
development wells. This includes entering into an agreement with a Bitcoin
miner on suitable terms and further assessment of potential sites for a future
operation.

 

Paul Welch, Buccaneer Energy's Chief Executive Officer, said:

"We are delighted to conclude this agreement with BitGo ahead of our planned
participation in a Bitcoin mining operation, as we believe they are the best
partner to work with in this business. This is just one of many things we are
doing in preparation for drilling at Fouke, with the next action being the
staking of the next development location, scheduled for the end of this
week.  We look forward to updating the market as we progress."

For further information, contact:

 

 Buccaneer Energy plc                         Email:   Investor_relations@buccaneerenergy.co.uk

 Paul Welch, CEO

 SP Angel Corporate Finance LLP               Tel:     +44 (0) 20 3470 0470

 (NOMAD/Joint Broker)

 Stuart Gledhill / Richard Hail / Adam Cowl

 Oak Securities (Joint Broker)                Tel:     +44 (0) 20 3973 3678

 Robert Bell / Nick Price

 Celicourt Communications                     Tel:     +44 (0) 20 7770 6424

Email:
BucEng@celicourt.uk
 (PR/IR)

 Mark Antelme / Jimmy Lea

 

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