CEO Interview: Buccaneer's European Gas Plan

Buccaneer Energy PLC

11 September 2026

 

11 September 2026

Buccaneer Energy Plc

("Buccaneer" or the "Company")

Beyond Texas: CEO Paul Welch on Buccaneer's European Gas Ambitions

Buccaneer Energy (AIM: BUCE), an international oil & gas exploration and production company with development and production assets in Texas, USA, and an emerging European onshore gas strategy, is pleased to share a recent interview with Chief Executive Officer Paul Welch on the SmallCapPix platform.

Watch the full interview here:

https://www.youtube.com/watch?v=zdFvYONRESc

The interview outlines Buccaneer's progress in building a low-cost, cash-generative production base in Texas, alongside the Company's strategy to scale into European onshore gas opportunities.

Highlights:

Texas Operations: A Self-Funding Platform

·	Net production has more than doubled since mid-2024. The business now generates positive free cash flow of c.$200,000 to $250,000 per month at recent prices, roughly 10% of the Company's current market capitalisation
·	Texas operations continue to generate positive net cash flow, helping to support the Company's next phase of growth
·	Further organic upside remains in-field, with production targeted towards approximately 250 bopd by year end through the ongoing Fouke waterflood and an expanding Organic Oil Recovery programme
·	The Board views Texas as the platform, not the destination: a stable, cash-generative base

Europe: The Next Phase

·	Europe's gas market has been transformed. The end of Russian pipeline supply, disrupted Middle Eastern LNG flows, and limited regional storage have driven European gas prices to a significant multiple of US levels
·	Host governments are increasingly encouraging domestic gas development, reopening opportunities that had been off-limits for a decade or more
·	Our European exploration team, led by Roberto Bencini, has screened close to 300 European gas opportunities down to a focused shortlist
·	The Company is targeting an initial portfolio with an NPV10 of c.$500 million, to be developed through a capital-light strategy: securing acreage, advancing technical work, then bringing in partner capital to fund drilling
·	The Board's ambition is to grow Buccaneer into a mid-sized E&P company producing approximately 5,000 boepd in the next three to five years, delivering scale that organic US growth alone could not achieve at pace

Paul Welch, Chief Executive Officer of Buccaneer Energy, commented:

"Texas has done exactly what we needed it to do, and it is now stable and self-funding. That gives us the platform to pursue new opportunities. The European opportunity is real, well-timed, and with the expertise of our exploration team, we believe we can move quickly and build a business of materially greater scale. We look forward to updating shareholders as this progresses."

**ENDS**

For further information, contact:

Buccaneer Energy plc Paul Welch, CEO	Email:	[e-mail]
Allenby Capital Limited (Nominated Adviser and Joint Broker) Jeremy Porter / Alex Brearley	Tel:	[phone]
SP Angel Corporate Finance LLP (Joint Broker) Stuart Gledhill / Richard Hail / Adam Cowl	Tel:	[phone]
Celicourt Communications (PR/IR) Mark Antelme / Charles Denley-Myerson	Tel: Email:	[phone] [e-mail]

 

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