Buccaneer Energy Plc · LSE:BUCE
Buccaneer Energy — Investor Presentation (June 2024)
8 slides from Buccaneer Energy's investor presentation, June 2024
Slide 1: A New Direction
A New Direction Corporate Presentation June 2024
Slide 2: New Profitable Chapter Unfolding
New Profitable Chapter Unfolding ✓ Change in Leadership • New CEO (Paul Welch) has taken over after 15 years of previous leadership • Strengthening the BOD with the addition of Mr. James Newman (in progress) • Significantly trimmed G&A ✓ Change in Direction • Focusing on Pine Mills – Long Life low d
Slide 3: Pine Mills – Overview
Pine Mills – Overview Located in Wood County, East Texas • Discovered in 1949 with cumulative production of 12.5 MMbbls • Conventional (Woodbine) East Texas reservoirs (shallow) • 100% Operated WI by NTOG • Averages 75 bopd from 9 producers and 4 injectors • Production enhancement upside potential f
Slide 4: Pine Mills – Structure
Pine Mills – Structure Pine Mills Field – Production Base Field Description: Discovery Date: October 8, 1949 Structure: North/South - Faulted West Dipping Anticline Size: 3.7 miles long 0.6 miles wide High Quality Producing Intervals: Avg Porosity: 24% Avg Permeability: 1,100 md Depth (ft) Oil in Pl
Slide 5: Development Potential – Infill Drilling
Development Potential – Infill Drilling ✓ Potential to further boost production via adding uphole pay zones and an infill drilling campaign ✓ Multiple oil-bearing zones, which are cross-cut by faults, isolate individual horizons from the main body of the field. ✓ The recent Fouke wells tested produc
Slide 6: Development Potential – Infill Drilling – Fouke #3
Development Potential – Infill Drilling – Fouke #3 ✓ An extension to the Fouke reservoirs to the north of the existing wells identified. ✓ Newly identified Subclarksville structure contains 286.8 kbbls ✓ This is 2X the volume produced from the Fouke wells over the last 2 years. ✓ Excellent quality r
Slide 7: Summary
Summary ✓ Focused on Long life Conventional US Oil & Gas Production • • Anchor Asset – Pine Mills Field – Located in East Texas, USA Shallow, low decline rate, oil production • Low operating and development costs • Significant upside potential LON: AIM NTOG ✓ Recent Changes in the Company’s BOD & Ma
Slide 8: Now's Time for Organic Growth
Now’s Time for Organic Growth JUNE 2024 8