Alaska

Buccaneer Energy Ltd., Sydney, said the Alaskan unit of its US subsidiary based in Houston submitted high bids on three leases totaling 11,240 acres at the Cook Inlet 2010 areawide lease sale.

By OGJ editors
HOUSTON, June 8
– Buccaneer Energy Ltd., Sydney, said the Alaskan unit of its US subsidiary based in Houston submitted high bids on three leases totaling 11,240 acres at the Cook Inlet 2010 areawide lease sale.

Two leases are on the 1,120-acre Northwest Cook Inlet and 5,120-acre West Eagle prospects and consolidate the company’s position on acreage previously acquired from Stellar Oil & Gas LLC and give Buccaneer control of both opportunities.

The third, 5,000-acre lease is a new prospect called West Nicolai Creek. It is a three-way fault assisted dip closure with strong anomalous seismic amplitudes that suggest hydrocarbons are trapped in the highly prospective Beluga and Tyonek sands found from surface to 5,000 ft. The gas prospect appears identical in structural and stratigraphic character to the nearby shallow northern portion of the producing Nicolai Creek field.

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