Buccaneer Energy Plans Equity Raise to Fund US, European Projects

07:25 AM EST, 11/12/2026 (MT Newswires) -- Buccaneer Energy (BUCE.L) intends to raise 510,000 pounds sterling through the issue of 5.10 billion new ordinary shares at 0.0001 pound apiece. The transactions will be carried out through a placing offer for 422,650 pounds and a direct subscription for 87,350 pounds, the London-listed oil and gas company said Thursday. Additionally, Buccaneer launched a retail offer for up to 1 billion new ordinary shares at the same issue price to raise a further 100,000 pounds. The retail offer closes on Nov. 16. Proceeds will be used for equipment and operational expenses at the company's Pine Mills project and Fouke waterflood project, both in Texas, US, as well as to fund its European onshore gas program.