Buccaneer Energy Plc

("Buccaneer" or the "Company")

3 November 2025

Spud of Allar #1

Buccaneer Energy (AIM: BUCE), an international oil & gas exploration and production company with development and production assets in Texas, USA, is pleased to announce the spud of the Allar #1 well (32.5% WI) (the "well") in the Fouke area of the Pine Mills Field.

As announced on 15 October 2025, the well is anticipated to take up to two weeks to drill and evaluate once spud. The Company will update the market with results from the well in due course.

Paul Welch, Buccaneer Energy's Chief Executive Officer, said:

"Since successfully securing the rig for Allar #1 earlier this month, we have quickly moved to spud the well as we look to increase production and materially drive cash flow from our existing acreage in the Pine Mills Field."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, contact: