Advises that the Company Continues to Work with its Secured Financier
Sydney, Feb 28, 2014 AEST (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) advises that the company continues to work with its secured financier. The Board is considering plans for the availability and sources of funds. These sources include asset sales and the use of ACES refunds. The intent is to provide a clear path through to 30 June 2014. Buccaneer requested a Voluntary Suspension that started on 19 February 2014 in order to develop and negotiate these plans.
"Buccaneer Energy continues to work through the process of developing steps forward in the near term related to Alaska and other strategic undertakings," said Curtis Burton, Managing Director & CEO of Buccaneer.
The company will make further announcements to ASX in relation to these plans as soon as it is able, but no later than 15 March 2014
Buccaneer considers the recommencement of trading in its shares is likely to be materially prejudicial to successfully completing discussions with third parties which are essential components of the capital structure review. On this basis Buccaneer has requested ASX to continue the suspension of its shares until 15 March 2014.
Contact
Ronn Bechler
Managing Director, Market Eye
E: ronn.bechler@marketeye.com.au
P: +61-400 009 774
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