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Buccaneer Energy Limited (ASX:BCC) Senior Management Changes in Alaska.

Sydney, Australia, Dec 16, 2013 - (ABN Newswire) - Buccaneer Energy Limited (ASC:BCC) (OTCMKTS:BCGYF) ("Buccaneer" or "the Company") today announced the following changes to its management organization.

Andy Rike, Chief Operating Officer for Buccaneer Energy will assume the role of President of Buccaneer Alaska, LLC effective immediately. Mr. Rike will be replacing Jim Watt, whose employment has been terminated. Andy is a 30-year industry veteran who joined Buccaneer in 2009 as a consultant. He has held multiple positions of increasing responsibility at the Company including head of drilling operations in the lower 48, Executive Vice President of Operations for Buccaneer Resources and most recently, Chief Operating Officer effective earlier this year.

Additionally, Mr. Mike Fitzgerald has been named as Vice President of Exploration and Development, replacing Mr. Allen Huckabay, who has also been terminated. Mr. Fitzgerald took over as Chief Geologist earlier this year after joining Buccaneer as a consultant in 2012.

Curtis Burton, Managing Director and CEO Buccaneer Energy commented on today's announcement, "With our new board now firmly in place we are taking steps to streamline operations, reduce capital expenditures and accelerate our overall development plan. I welcome Andy and Mike to their new roles and believe these will be positive steps for the Company. Buccaneer Energy continues with its commitment to its Alaskan projects, both on and offshore, and is looking forward to implementing these measures to drive our projects forward."

About Buccaneer Energy Limited:

Buccaneer Energy Limited (ASX:BCC) is an Australian listed company focused on onshore and shallow waters of the Cook Inlet of Alaska and the Gulf of Mexico, as well as onshore Gulf Coast assets that have been left behind or overlooked by other players.

The Company has a large existing portfolio and disciplined acquisition strategy focused on opportunities with:

- Assets with attractive economics;

- Assets that have existing infrastructure in place that can be accessed;

- Assets near a commercial market that has been de-risked; and

- Assets that have multiple stacked pay targets.

Buccaneer's management team has a proven track record of finding and exploiting oil and gas reserves and generating new opportunity deal flow.

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Publication:ABN Newswire
Date:Dec 16, 2013
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