Buccaneer Energy Limited has now received all permits and clearances to commence drilling operations at the Kenai Loop project. The Glacier # 1 drilling rig has moved onto the Kenai Loop # 1 drilling pad ready to commence operations.

The Company has received the majority of the processed 3D seismic data and is in the process of incorporating this into the Kenai Loop geological model. Data related to zones that were drilled and tested in the first two Kenai Loop wells drilled in 2011 are undergoing further refinement and the Company expects to have this data incorporated shortly; this part of the process has taken longer than expected due to using a new improved version of a specialised software package.

Tags: Buccaneer Energy Ltd.