Buccaneer Energy Limited has now received the final permit from the Alaskan Oil and Gas Conservation Commission (AOGCC) for the revised bottom-hole location for the Kenai Loop # 4.
The Company is in the process of finalizing the mobilization of drilling contractors and service providers to spud the Kenai Loop # 4 well with the Glacier # 1 rig that is currently on location at Drilling Pad # 1.
The Kenai Loop # 4 well is planned to drill deeper than the Kenai Loop # 1 (10,660 feet), and is anticipated to take 35-40 days to drill with an additional 10 days for testing. The Company will make a further release when the well has spud and thence weekly drilling updates.
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Buccaneer Energy Ltd.
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