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An update from Nostra Terra Oil and Gas ( (GB:BUCE) ) is now available.
Buccaneer Energy has completed the acquisition of a 100% working interest in the Carlisle-1 well in the Fouke area of the Pine Mills field in East Texas, funded in part by a recent £350,000 capital raise. The producing well adds roughly 25 barrels of oil per day, lifting Buccaneer’s working interest output to about 155 bopd and further consolidating its position in the area.
Carlisle-1 is a high-margin asset, with operating costs of about US$6.23 per barrel and an estimated netback of around US$65 per barrel at current field prices, generating roughly US$50,000 a month in net cash flow. An independent reserve report values its proved developed producing reserves at a PV10 of about US$910,540, and the deal raises Buccaneer’s stake in the proposed Fouke waterflood unit to more than 50%, supporting management’s view that the company’s current market valuation understates its reserve base and cash-generating potential.
The most recent analyst rating on (GB:BUCE) stock is a Sell with a £0.01 price target. To see the full list of analyst forecasts on Nostra Terra Oil and Gas stock, see the GB:BUCE Stock Forecast page.
Spark’s Take on BUCE Stock
According to Spark, TipRanks’ AI Analyst, BUCE is a Underperform.
The score is driven primarily by very weak financial performance (losses, negative equity, and negative operating/free cash flow). Technicals are also bearish with the stock trading below key moving averages and negative MACD, only modestly tempered by oversold readings. Valuation provides limited support due to negative earnings and no stated dividend yield.
To see Spark’s full report on BUCE stock, click here.
More about Nostra Terra Oil and Gas
Buccaneer Energy Plc is an international oil and gas exploration and production company focused on onshore development and production assets in Texas, U.S. The company’s operations are concentrated in the Pine Mills field, where it is pursuing low-cost, high-margin barrels and enhanced recovery projects including a proposed waterflood unit and an Organic Oil Recovery programme.
Average Trading Volume: 191,077,863
Technical Sentiment Signal: Sell
Current Market Cap: £1.95M
Find detailed analytics on BUCE stock on TipRanks’ Stock Analysis page.