11 September 2026
Buccaneer Energy Plc
("Buccaneer" or the "Company")
Beyond Texas: CEO Paul Welch on Buccaneer's European Gas Ambitions
Buccaneer Energy (AIM: BUCE), an international oil & gas exploration and production company with development and production assets in Texas, USA, and an emerging European onshore gas strategy, is pleased to share a recent interview with Chief Executive Officer Paul Welch on the SmallCapPix platform.
Watch the full interview here:
https://www.youtube.com/watch?v=zdFvYONRESc
The interview outlines Buccaneer's progress in building a low-cost, cash-generative production base in Texas, alongside the Company's strategy to scale into European onshore gas opportunities.
Highlights:
Texas Operations: A Self-Funding Platform
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Net production has more than doubled since mid-2024. The business now generates positive free cash flow of c.$200,000 to $250,000 per month at recent prices, roughly 10% of the Company's current market capitalisation |
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Texas operations continue to generate positive net cash flow, helping to support the Company's next phase of growth |
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Further organic upside remains in-field, with production targeted towards approximately 250 bopd by year end through the ongoing Fouke waterflood and an expanding Organic Oil Recovery programme |
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The Board views Texas as the platform, not the destination: a stable, cash-generative base |
Europe: The Next Phase
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Europe's gas market has been transformed. The end of Russian pipeline supply, disrupted Middle Eastern LNG flows, and limited regional storage have driven European gas prices to a significant multiple of US levels |
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Host governments are increasingly encouraging domestic gas development, reopening opportunities that had been off-limits for a decade or more |
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Our European exploration team, led by Roberto Bencini, has screened close to 300 European gas opportunities down to a focused shortlist |
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The Company is targeting an initial portfolio with an NPV10 of c.$500 million, to be developed through a capital-light strategy: securing acreage, advancing technical work, then bringing in partner capital to fund drilling |
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The Board's ambition is to grow Buccaneer into a mid-sized E&P company producing approximately 5,000 boepd in the next three to five years, delivering scale that organic US growth alone could not achieve at pace |
Paul Welch, Chief Executive Officer of Buccaneer Energy, commented:
"Texas has done exactly what we needed it to do, and it is now stable and self-funding. That gives us the platform to pursue new opportunities. The European opportunity is real, well-timed, and with the expertise of our exploration team, we believe we can move quickly and build a business of materially greater scale. We look forward to updating shareholders as this progresses."
**ENDS**
For further information, contact:
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Buccaneer Energy plc Paul Welch, CEO |
Email: |
Investor_relations@buccaneerenergy.co.uk |
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Allenby Capital Limited (Nominated Adviser and Joint Broker) Jeremy Porter / Alex Brearley |
Tel: |
+44 (0) 20 3328 5656 |
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SP Angel Corporate Finance LLP (Joint Broker) Stuart Gledhill / Richard Hail / Adam Cowl |
Tel: |
+44 (0) 20 3973 3678 |
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Celicourt Communications (PR/IR) Mark Antelme / Charles Denley-Myerson |
Tel: |
+44 (0) 20 7770 6424 |