Buccaneer Energy Completes Drilling of Its First Offshore Gas Well.HOUSTON -- Curtis Burton, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Buccaneer buccaneer: see piracy. buccaneer Any of the British, French, or Dutch sea adventurers who chiefly haunted the Caribbean and the Pacific seaboard of South America during the latter part of the 17th century, preying on Spanish settlements and shipping. Energy, announced that the company has successfully completed drilling of its first offshore gas well with operator AnaTexas and Elixir Petroleum. "The drilling effort has been successful, and we look forward to completing the well and placing it on production in the near term," said Burton. "We continue to analyze drilling logs and data, but preliminary indications are positive and warrant completion. We are also evaluating with the partners the next steps in the redevelopment of the Pompano field. We will be announcing those plans in the near term." Clint Wainwright, President of AnaTexas, commented, "If Well Number 1 is any indication, Pompano promises to be an exciting redevelopment with multiple new well locations." Pompano is located approximately 90 miles southwest of Houston and 30 miles east of Port O'Connor, Texas Port O'Connor, Texas (also known as P.O.C.) is situated between Galveston and Corpus Christi. The community is an unincorporated village of 1,078 permanent residents (last recorded in 2000 1), and is located in Calhoun County. . It sits seven miles off the coast in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east in approximately 55 feet of water. The field was developed by a local independent, Zapata, in the late 1980s. In its heyday, Pompano produced more than 120 billion cubic feet of gas. It was shut in in the early 1990s. The trend that includes Pompano produced more than 850 billion cubic feet before being passed over by the majors as they headed toward deep water. However, Pompano itself survived, with its original platform and pipelines intact, through two hurricanes and a number of different owners. Buccaneer Resources LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control - a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Buccaneer Energy Limited, a company listed on the Australian Securities Exchange The Australian Securities Exchange (ASX) is the primary stock exchange in Australia. The ASX began as separate state-based exchanges established as early as 1861. Today trading is all-electronic and the exchange is a public company, listed on the exchange itself. (ASX ASX See: Australian Stock Exchange :BCC). Connecting scarce service-industry resources with capital and quality prospects, Buccaneer Resources has stepped into a resource-constrained world to offer services, equipment and capital to both small and large independents, with the ability to meet the most specific needs. Buccaneer Resources has negotiated special rates with a group of service, hardware and drilling rig providers and can offer client companies access to its network of equipment and services. The network is designed to offer a wide array of resources needed by nearly any segment of the upstream energy industry to bring a development on line. Buccaneer is actively building capital and resource solutions for multiple prospects, both onshore and in the Gulf of Mexico. More information can be found at www.buccaneerresources.com. |
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