Buccaneer Energy Plc · LSE:BUCE
Buccaneer Energy — Investor Presentation (June 2025)
17 slides from Buccaneer Energy's investor presentation, June 2025
Slide 1: Building Value – Corporate Presentation June 2025
Building Value Corporate Presentation June 2025
Slide 2: Disclaimer
DISCLAIMER: The document attached hereto and the presentation of which it forms part (together the “Materials”) have been prepared by Buccaneer Energy PLC (the “Company”). The Materials are confidential and personal to you and are furnished to you as background information to provide a basis for you
Slide 3: Buccaneer Energy – BUCE
Buccaneer Energy– “BUCE” ✓ London Stock Exchange – “AIM” Listed Public Company • Founded in 2005 • Focused on US onshore conventional production • US Operating Subsidiaries • Buccaneer Operating LLC – East Texas • New Horizons Energy – West Texas/South Texas ✓Three Principal Areas of Interest • Sout
Slide 4: Buccaneer Energy - Team
Buccaneer Energy - TEAM Steve Staley Paul Welch Jim Newman Non-Exec Chairman Director, CEO Non-Exec Director • Dr Staley has more than 40 • Mr. Newman is an international years of management and • International energy executive with energy executive with over 35 years technical experience in the ove
Slide 5: Pine Mills – Overview
Pine Mills – Overview Located in Wood County, East Texas, USA • Discovered in 1949 with cumulative production of 12.55 MMbbls • Conventional (Woodbine) East Texas reservoirs (shallow) • 100% Operated WI by BUCE • Averages 100 bopd from 17 producers and 4 injectors • Waterflood optimization: 30 - 45
Slide 6: 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 7: Production History – 2019-2024
Production History – 2019-2024 Pine Mills Legacy Production History Phase 1 Workover Start-Up 1/2019 - 12/2024 No significant investment in well stock since 2019 200 180 Well rates, well counts, and uptime all decreased since acquisition in 2019 160 Daily Production Rate - BOPD Pine Mills Field Prod
Slide 8: Pine Mills - Production History – 2024/25
Pine Mills - Production History – 2024/25 Pine Mills Legacy Production History The Phase 1 workover program started the last 1/2024 - 4/2025 week of August 2024. Phase 1 - Workovers Phase 2 - Workovers 110 Phase 1 Workover Start-Up Before workovers, the 54 field averaged 54 bopd. 100 94 Pre-Workover
Slide 9: Development Potential – Infill Drilling - Recompletions
Development Potential – Infill Drilling - Recompletions ✓ Potential to further increase production by adding up hole pay zones and drilling in isolated fault blocks. ✓ Multiple oil-bearing zones cross-cut by faults isolate individual horizons from the field’s main body. ✓ Modern 3D seismic covers 60
Slide 10: Development Potential – Infill Drilling – Fouke #3 & PUDs
Development Potential – Infill Drilling – Fouke #3 & 4 - PUDS ✓ Fouke #3 location has been approved by Partners ✓ Fouke #4 technical work completed (need Partner approval) ✓ Subclarksville structure contains ca. 300 kbbls ✓ This is ~2X the volume produced from the Fouke wells ✓ Excellent quality res
Slide 11: Subsurface mapping (3D Seismic fault control)
Subsurface mapping (3D Seismic fault control) 4-Fouke 42 Ac. 46 Ac.
Slide 12: Location of fault (Green) at Woodbine Kennedy Sd
Location of fault (Green) at Woodbine Kennedy Sd
Slide 13: Fouke 3 well location aerial view
Slide 14: Fouke #3 Well Cash Flows & IRR's
Fouke #3 Well Production Total Cost NPV10 IRR Payout Cash Flows & IRR’s Well BOPD M$ M$ % Months Fouke 3 40 $363 $1,752 380% 7 Assumes: Fouke #3 Well • Gross Well Cost: $1.1 MM • BUCE Equity interest is 33% • Fouke OPEX - <$5/bbl • Drilled Aug 25 • On production Sep 25 • Produces at the allowable ra
Slide 15: Net Production Profile: Workovers + Fouke 3 & 4
Net Production Profile: Workovers + Fouke 3 & 4 Net Backs @ $65/bbl: PM: $40.03/bbl Assumes: Fouke 4 (Proposed) Fouke: $58.78/bbl W TX: $49.84.30/bbl Phase 2 Workover Program Fouke 3 • Continuous program (began Dec24) • 5 wells are returned to production • Wells declines are similar to existing Phas
Slide 16: Summary
✓Company has been transformed Summary ✓The New Leadership Team is Delivering LON: AIM BUCE o Costs reduced by 25% o Production increased by 80% in Pine Mills Shares (0. 016p) 6.95 Bn o Netbacks have increased by 50% - Pine Mills: $40/bbl, Fouke: $58/bbl Market Cap £1.11 m $1.50 m ✓ Focus on Pine Mil
Slide 17: June 2025
JUNE 2025 17