Pipeline Construction Completed at Buccaneer's Kenai Loop

Buccaneer advised that construction and pressure testing of the pipeline connecting the Kenai Loop # 1 well to the local gas pipeline has been completed.

Interconnecting piping, electrical and instrumentation connections, and fuel gas piping of the production facilities on the Kenai Loop #1 pad are currently being installed. This installation at the Kenai Loop #1 pad will allow for more efficient and effective hook up of additional future wells.

The sales gas meters are currently being calibrated in Canada and the gas filtering equipment is being installed at the City Gate pipeline facility prior to the functional check out of the system for final permitting approval.

It is anticipated that production and sales from Kenai Loop # 1 well will commence within the next 21 days.