Beam Communications Holdings Ltd

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to advise that the Department of Natural Resources ("DNR") has granted Buccaneer a Land Use Permit ("LUP") for the Cosmopolitan ("Cosmo") project location.

Buccaneer Energy Limited (ASX:BCC) is pleased to advise that on the evening of the 24 December 2012 it executed binding agreements for the issue of 198,000,000 shares in the Company at an issue price of $0.047

Buccaneer Energy Limited (ASX:BCC) is pleased to advise that the small leak in the well liner has been plugged using a cement squeeze. The casing and liner have been successfully pressure tested and it is anticipated that perforation and production testing operations will commence in approximately 3 days.

Buccaneer Energy Limited (ASX:BCC) (PINK:BCGYF) is pleased to provide an update on the "Endeavour - Spirit of Independence" ("Endeavour") jack-up rig and Buccaneer's offshore Alaskan projects in the Cook Inlet.

Buccaneer Energy Limited (ASX:BCC) advises that the process of identifying the location of the small leak in the well liner has progressed. The small leak was detected while checking pressure integrity of the casing and liner in anticipation of the start of perforation and production testing operations.

Buccaneer Energy Limited (ASX:BCC) previously advised that the perforation and production testing of the Kenai Loop # 4 well was scheduled to commence on or about Friday 30 November 2012 (US time). While checking pressure integrity of the well casing and liner in anticipation of the start of that testing program a small leak was detected that required rectification work. That work is now being completed and on completion the well will certified for safe performance of the planned production testing.

Buccaneer Energy Limited (ASX:BCC) is pleased to advise that a webcast of the presentation given at last week's Annual General Meeting is now available on the Company's website at www.buccenergy.com.

Buccaneer Energy Limited (ASX:BCC) is pleased to advise that it has increased the production rate at its 100% owned Kenai Loop # 1 well to 6.5 million cubic feet per day ("MMCFD").

Buccaneer Energy Limited (ASX:BCC) are pleased to provide the Company Annual General Meeting 2012 Presentation.

Buccaneer Energy Limited (ASX:BCC) is pleased to advise that it has received the spacing permit from the Alaska Oil and Gas Conservation Commission ("AOGCC") to allow testing of the Kenai Loop # 4 well to commence.