Core Insights - Buccaneer Energy has acquired a 32.5% interest in leasehold acreage in the Fouke area of the Pine Mills field, Texas, which allows for new production strategies including sidetrack drilling and enhanced recovery plans [1][2] - The acquisition includes shut-in wells at the Turner 1 and Daniel 1 wells, with a 32.5% working interest in each, and aims to bring Turner 1 to production soon while retaining Daniel 1 for future waterflood development [2][3] - The company is in discussions with the Texas Railroad Commission regarding the formation of an enhanced recovery unit in the Fouke area, with plans for the Fouke 4 well to spud in late December 2025 [3][4] Company Developments - CEO Paul Welch emphasized the importance of the new acreage for further development in the Fouke area and the potential for an optimal sidetrack for the Allar 1 well [2][4] - Preparatory work will include reviewing the well plan, cost estimates, and timing in collaboration with partners [2] - The Allar 1 well did not encounter commercial hydrocarbons, reaching a total depth of 5,767 feet [5]