Buccaneer Energy CEO on cash-flow boost from Carlisle-1 acquisition & next milestones

Buccaneer Energy Plc (AIM:BUCE, FRA:LMU1) CEO Paul Welch talked with Proactive's Stephen Gunnion about the company’s latest acquisition and how it is set to strengthen near-term cash flow while unlocking longer-term production growth. Welch explained that the newly acquired Carlisle-1 well increases Buccaneer’s production to around 155 barrels of oil per day, providing a meaningful boost to revenue generation. At current oil prices, the asset is expected to generate around $50,000 per month in net free cash, highlighting the importance of the acquisition for the company’s financial position. Welch noted that the well benefits from particularly low operating costs, improving margins and making it a strong addition to the portfolio. He said the acquisition provides “a tremendous net back from this well,” reinforcing its value to the company’s production base. The interview also explored the proposed Fouke water flood project, which could play a key role in unlocking further reserves within the field. Welch highlighted that the Carlisle well still contains 50,000 to 60,000 barrels of remaining primary reserves, but under water flood development that could expand to around 250,000 barrels. Importantly, the project could significantly extend the life of the field. As Welch told Proactive, “It will allow this field, this portion of the field, for the production to extend another 10 to 15 years.” Looking ahead, Buccaneer Energy plans further organic oil recovery treatments in April, followed by the potential start of the Fouke water flood around mid-year, both of which could help drive production and revenue growth. For more interviews like this, visit the Proactive YouTube channel, give this video a like, subscribe to the channel, and enable notifications so you never miss future content. #BuccaneerEnergy #PaulWelch #OilAndGas #EnergyStocks #SmallCapStocks #OilProduction #EnergyInvestment #PineMills #OilMarket #StockMarketNews