Buccaneer Energy to Title Sponsor the Kenai Chamber of Commerce’s 27th Annual Beer and Wine Experience

Buccaneer and Kenai Chamber Kick Off “Name the Rig” Contest

ANCHORAGE, Alaska--(BUSINESS WIRE)--Buccaneer Energy is proud to support the Kenai Chamber of Commerce by being the title sponsor of its 27th Annual Beer and Wine Experience. Titled “Lumber Jack Jam”, the October 1^st event represents the Chamber’s main fund raising effort for the year.

“As a member of the Kenai community, it is important that we stand with the Chamber and support the area businesses”

“As a member of the Kenai community, it is important that we stand with the Chamber and support the area businesses,” said Curtis Burton, CEO of Buccaneer. “We intend to be a part of the community for a very long time, and as such look forward to participating in not only this year’s event, but also in those in the years to come.”

Buccaneer is also teaming up with the Chamber in a joint contest to ask the citizens of Alaska to “Name The Rig.” Through its subsidiary, Kenai Offshore Ventures, Buccaneer will be bringing a LeTourneau Class 116 Jack-up rig to the Cook Inlet. The rig and its crew will be headquartered in Kenai and will have a significant positive impact on the local economy.

Anyone who would like to submit a name for the rig is asked to e-mail their suggestions to [e-mail]. The winner of this contest will receive two VIP tickets to the Lumber Jack Jam and will receive a special tour of the rig when it arrives in the Inlet. (Travel not included) All entries are due by September 23rd.

Mr. Burton continued, “We are looking for a name that fits with our home base of Kenai, the spirit of Alaska, and represents our long term commitment to the area. We are excited about the contest, and look forward to reviewing all of the submissions and choosing the best as the winner.”

Originally built to operate in the North Sea, the rig’s steel is rated to withstand -10 degree water, so the rig is well-suited to search for hydrocarbons while protecting the sensitive environment of the Inlet. The rig carries a variety of state of the art safety systems including 10K and 15K blowout preventer systems. Since it has such a large list of capabilities, it’s the ideal rig selection for the Inlet. For technical details and to see photos of the rig go to www.KOVAlaska.com.

About Buccaneer

Buccaneer Energy Limited is an energy exploration and production company traded on the Australian Stock Exchange (ASX:BCC). Through its wholly owned subsidiaries, Buccaneer Resources and Buccaneer Alaska, the US headquartered independent is focused on acquiring significant working interests in undervalued, low-risk development properties that possess significant undeveloped upside potential. The Company places a premium on bringing both regional and local expertise to each opportunity, and as a result its opportunistic approach to finding hydrocarbons, is not limited by geographic considerations. Buccaneer Alaska focuses on developing opportunities in the Cook Inlet of Alaska which includes the Kenai onshore project and several offshore opportunities. Buccaneer Resources is focused on the Gulf of Mexico, onshore opportunities in the lower 48, and certain international opportunities.

About Kenai Offshore Ventures

Formed in 2010, Kenai Offshore Ventures (KOV) is a new kind of company created by pulling together industry participants and capital. Uniquely positioned to take advantage of state-implemented tax incentives for operators to bring a state-of-the-art rig suited to drill in all parts of the Cook Inlet and surrounding areas. Beginning with Project Endeavour, the Company’s first rig is scheduled to arrive in 2012. Partners in KOV include Buccaneer Energy and Ezion Holdings Limited.

About Ezion

Ezion Holdings Limited (“Ezion” and together with its subsidiaries the “Group”) has two main business divisions that specialize in the development, ownership and chartering of strategic offshore assets and the provision of offshore marine logistics and support services to the offshore oil and gas industries.

The Group is the owner of the fleet of one of the largest and most sophisticated class of Multi-Purpose Self-Propelled Jack-up Rigs (“Liftboats”) in the world and one of the first to promote the usage of Liftboats in Asia Pacific, Middle East and West Africa. Ezion’s Liftboats are used mainly for well-servicing, commissioning, maintenance and decommissioning of offshore platforms.

The Group is also the owner of a fleet of 29 vessels, consisting of tugs, ballastable barges, offshore support vessel and self-propelled barge that are used in the provision of offshore marine logistics and support services to the offshore oil and gas industries. The Group’s fleet of ballastable barges, one of the largest in the region, has been specially reinforced and modified to carry the prefabricated modules in the construction of LNG extraction facilities and jackets for the offshore oil and gas industries. The Group also co-owns a Multi-Purpose Vessel to provide logistics support of equipment from America to Australia and Papua New Guinea.

The Group’s operating companies also offers a range of services to include marine consulting related to the development & construction and marine logistics solutions for marine offshore facilities.

Branch offices in Korea, The United States of America, and Australia provide logistics, supercargo, engineering and freight forwarding to complement existing operations.