Buccaneer Acquires Additional Interest from Chevron

Buccaneer advised that its wholly owned subsidiary Buccaneer Alaska has entered into a binding agreement with Chevron to acquire the remaining 50% working interest (2,506 net acres) that it does not already own in 2 leases on its North Middle Ground Shoal (Southern Cross Unit) structure in the Cook Inlet, Alaska.

This acquisition gives the Company a 100% WI in all the leases that cover the North Middle Ground Shoal structure, this equates to a net 10,108 acres.

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