Buccaneer Energy Plans European Onshore Gas Expansion

02:59 AM EDT, 08/12/2026 (MT Newswires) -- Buccaneer Energy (BUCE.L) is expanding into European onshore gas, partnering with Orion Resources to advance opportunities in Italy, the Czech Republic and Turkey. The London-listed oil and gas company is initially targeting up to three low-cost projects, following a review of more than 300 European opportunities, according to a Wednesday release. To support the expansion, Buccaneer is raising 460,000 pounds sterling through the placement, subscription and fee conversion of 4.60 billion new ordinary shares at 0.0001 pound apiece. The offering also includes 3.19 billion warrants exercisable for two years at 0.000125 pound per share. Some net proceeds will also fund further US expansion, including the field-wide rollout of its organic oil recovery program at Pine Mills, Texas.