Buccaneer Energy, Curtis Burton, is on World Energy TV
Buccaneer Energy, BCC:AU reveals secrets to World Energy TV
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Curtis Burton recently appeared on World Energy Television in a kind of "tell all" interview. He details the inner workings of Buccaneer, their recent acquisition in Alaska, and tells us what the future may hold. In the interview he provides a snapshot into just how big Buccaneer is going to be in the very near term. The videos are short but worth watching.
http://www.youtube.com/watch?v=0IWlXHm1cmA
http://www.youtube.com/watch?v=DvBatcrQwAg
http://www.youtube.com/watch?v=nJaMMi0Mj7Q
"149 million barrels of oil and 1.2 TCF of gas, that’s a company making opportunity, but Alaska? You don't know the whole about Alaska, a number of things have recently changed about Alaska.
"You get a commodity floor of $7 to $9 dollars for Gas. Here you have an on-going danger of commodity price collapse, in Alaska not so."
"If you look at the portfolio we started out with it has over 300b's of upside associated with it, that’s hardly conservative. When you look at we are focused on in Alaska 1.2 TCF of gas and 149 million barrels of oil as an opportunity, is hardly conservative. What is conservative about that is that we have replicated what we have done in the lower 48. We've gone after something that has manageable risk, we've captured a commodity price situation that is in our favor, we are going to areas that have had prior production that's in our favor, we are going to areas that have seismic or other event that lowers the risk and that is in our favor. While we are being conservative we are being 'aggressively conservative'." Curtis Burton, CEO of Buccaneer in a recent interview.
"We have some world class opportunities surrounding Pompano, if gas was at $10, $12, $8 we would be making active plans to drill. But right now is not the time to be drilling those kinds of opportunities. So what we have been busy doing for the last six months is scouring the planet for what is a good opportunistic fit that has a dominance of oil associated with it or some set of circumstances with it that make it work even in a poor gas market. That's Alaska."
Here we have an independent that can be very flexible. If the natural gas market opens up in the lower 48 they have great prospects in the shallow water gulf. At a time when oil is $80 they have a 30 well drilling program in Lee County Texas. As the majors pull back in Alaska, they are all ready there buying inexpensive big impact plays.
It doesn't get much better than that.