REG - Buccaneer Energy PLC - Acquisition of Additional Fouke Area Acreage

Buccaneer EnergyAnnouncement

27/11/2025 07:00

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RNS Number : 1538J  Buccaneer Energy PLC  27 November 2025

 

 

Buccaneer Energy Plc

("Buccaneer" or the "Company")

 

27 November 2025

 

Acquisition of Additional Fouke Area Acreage,

Enabling Sidetrack and New Production Potential

 

Buccaneer Energy (AIM: BUCE), an international oil & gas exploration and
production company with development and production assets in Texas, USA, is
pleased to announce the acquisition of a 32.5% interest in offsetting
leasehold acreage in the Fouke area of the Pine Mills field.

 

Highlights:

 •    New Acreage: 32.5% working interest in acreage directly west of the Allar #1
      location.
 •    Sidetrack Opportunity: Enables potential westward sidetrack of the Allar #1
      away from bounding fault.
 •    Shut-in Wells: Includes Turner #1 and Daniel #1 wells (32.5% WI each). Turner
      #1 planned for near-term return to production; Daniel #1 retained as potential
      injector for future waterflood development.
 •    Enhanced Recovery Plan: Discussions underway with Texas Railroad Commission
      regarding formation of an enhanced recovery unit in the Fouke area.
 •    Next Well: Fouke #4 remains on track to spud in late December 2025.

 

 

The following map illustrates the new acreage position, including the location
of Allar #1, the Fouke wells, and the area now accessible for a potential
sidetrack.

 

 

 

 

 

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

 

"The addition of this acreage is an important step for Buccaneer as we look to
further our development of the Fouke area by unlocking the opportunity to
pursue an optimal sidetrack for the Allar #1 well. The Company will now
progress preparatory work including reviewing the well plan, cost estimates,
and timing in conjunction with its partner.  The Turner #1 well provides
near-term production potential, while Daniel #1 offers longer-term development
optionality.

 

With this acreage now secured and Fouke #4 progressing toward spud, we are
well positioned to continue building production and value across Pine Mills. I
look forward to updating investors as we progress these various workstreams."

 

 

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 / Charles Denley-Myerson

 

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