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Stockbox Interview Highlights & Event Reminder
Buccaneer Energy Plc provided an update highlighting strong operational performance and increased margins at its Pine Mills Field, with current production around 150 barrels of oil per day (bopd) expected to rise to 155-160 bopd, benefiting from realised prices of approximately US$98 per barrel. Operating costs remain low at under US$5 per barrel in the Fouke area, contributing to estimated operating margins at Pine Mills increasing from US$40 to US$70 per barrel, equating to roughly US$270,000 per month in pre-royalty operating margin at current prices. The company is progressing enhanced recovery initiatives, including a waterflood targeted for mid-year, and aims to reach approximately 200 bopd by year-end through organic growth. Disclaimer*
About this update from Buccaneer Energy Plc
15 April 2026 Buccaneer Energy Plc ("Buccaneer" or the "Company") Stockbox Interview Highlights & Event Reminder Buccaneer Energy (AIM: BUCE), an international oil & gas exploration and production company with development and production assets in Texas, USA, notes the recent interview with Chief Executive Officer Paul Welch, which provides additional context on current production, operating performance and the impact of higher oil prices at the Pine Mills Field. Watch the full interview here: https://www.youtube.com/watch?v=2_SKaq_1ueM&list=PLt5TrgKtYSNnKQeYf9okh5mmx_Tc7TawD&index=6 The interview outlines the Company's focus on maximising production from existing assets, maintaining low operating costs and progressing enhanced recovery initiatives. Highlights: · Production currently c.150 bopd, expected to increase to c.155-160 bopd (WI Gross) · Strong realised pricing, with recent sales at c.US$98/bbl · Operating costs in the Fouke area remain low at <US$5/bbl, supporting high-margin onshore production · Estimated operating margins at Pine Mills have increased from c.US$40/bbl to c.US$70/bbl at current prices · At ~150 bopd, this equates to c.US$270,000 per month of pre-royalty operating margin* at current pricing · OOR pilot initially doubled production in the treated area, with one well maintaining a water cut below 10% · Fouke waterflood targeted for mid-year, with potential to materially increase production · Targeting c.200 bopd by year-end through primarily organic growth initiatives Operational Context In the current price environment, the Company continues to prioritise bringing all available production online and optimising field performance. Recent activity includes returning the Turner #1 well to production, providing incremental output ahead of its planned role as an injector within the proposed Fouke waterflood. With a largely fixed cost base, higher realised oil prices are translating directly into improved margins and increased cash generation across the Pine Mills field. Invest...
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