Buccaneer gains clearance for Alaska exploration drilling

Offshore staff

SYDNEY, Australia – Buccaneer Energy (ASX:BCC) has secured two permits for oil and gas exploration in the Cook Inlet offshore Alaska.

The Alaskan Department of Natural Resources (DNR), Division of Oil and Gas, has approved Buccaneer’s program of two wells each at theSouthern Cross and Northwest Cook Inlet units during 2012-13.

Additionally, in connection with the Rivers and Harbors Act of 1899, the US Army Corps of Engineers has issued a permit authorizing Buccaneer’s use of a jackup (Endeavour-Spirit of Independence) in the navigable waters of the Cook Inlet for the planned exploration activities.

2/9/2012