REG - Buccaneer Energy PLC - Construction of Allar #1 well site

Buccaneer EnergyAnnouncement

16/10/2025 07:00

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RNS Number : 5664D  Buccaneer Energy PLC  16 October 2025

 

 

Buccaneer Energy Plc

("Buccaneer" or the "Company")

 

16 October 2025

 

Construction of Allar #1 well site

 

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 construction has commenced at the location of its
upcoming Allar #1 well (the "well"), the first of two planned development
locations in the Fouke area of the Pine Mills Field.

 

Allar #1 (WI: 32.5%) is tentatively expected to spud in late October,
following the completion of site preparation and associated civil works, which
are now under way. Drilling operations are anticipated to take up to two weeks
to complete and evaluate.

 

 Image 1: Delivery of construction machinery at Allar #1

 

The Allar #1 well is designed to build on the Company's recent operational
success in the Fouke area and forms part of its broader strategy to enhance
production and unlock further value across the Pine Mills Field.

 

 Image 2: Construction underway at Allar #1

 

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

"We are pleased to have begun construction at the Allar #1 location - an
important milestone in what we expect to be another productive phase of
activity in the Fouke area. With the pad now under construction, we remain on
track to spud later this month. We look forward to providing further updates
on the well in due course."

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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