Buccaneer Energy Limited Announces Successful Cook Inlet Lease Sale

Buccaneer Energy Limited is pleased to advise that its wholly owned subsidiary Buccaneer Alaska, LLC has been notified that it was the apparent high bidder on one onshore lease totalling 1,268 acres offered by the Mental Health Trust Land Office at the lease auction on Wednesday 8 December 2010 (US time).
The lease acquired is a key lease in the Company's Kenai Loop Project, referred to as Project X in the recent presentation to the Company's AGM, this now completes the leasing activities for this project. Further details on the project, including maps, will be provided in the next week.
The Mental Health Trust Land Office offered 17 tracts for leasing. Apache Alaska Corporation was the apparent high bidder on 16 tracts, Buccaneer Alaska acquired the remaining 1 tract detailed above.
Source: Press release