Business
Contract with Bitcoin Storage and Trading Company
Buccaneer Energy PLC announced a contract with BitGo, a digital asset infrastructure company, to serve as their official custodian through BitGo Trust Company, Inc. This partnership includes trading support via BitGo's OTC platform. This move prepares the company for potential future Bitcoin revenues from its Fouke area development in Pine Mills, where they plan to monetize expected gas production by partnering with a Bitcoin miner. The company is establishing procedures to handle, store, and trade Bitcoin, but the implementation depends on drilling results from new development wells and securing an agreement with a Bitcoin miner. Disclaimer*
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n\n \n \nBuccaneer Energy Plc\n(\"Buccaneer\" or the \"Company\")\n \n18 September 2025\n \nContract with Bitcoin Storage and Trading Company\n \nBuccaneer 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.\n \nAs 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.\n \nThe 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.\n \nPaul Welch, Buccaneer Energy's Chief Executive Officer, said:\n\"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.\"\nFor further information, contact:\n \n\n\n\n\nBuccaneer Energy plc\nPaul Welch, CEO\n\n\nEmail:\n\n\[email protected]\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSP Angel Corporate Finance LLP\n(NOMAD/Joint Broker)\nStuart Gledhill / Richard Hail / Adam Cowl\n \n\n\nTel:\n\n\n+44 (0) 20 3470 0470\n\n\n...