Core Viewpoint - Buccaneer Energy is advancing the development of the Fouke area in the Pine Mills field, Texas, by implementing a waterflood scheme to enhance oil recovery rates [1][6]. Group 1: Waterflood Scheme Implementation - The company plans to use the Turner 1 and Daniel 1 wells as injection points for the waterflood scheme, which aims to increase reservoir pressure and improve oil recovery rates [2][4]. - The waterflooding initiative follows a technical review of the Allar 1 well and the acquisition of adjacent acreage, providing necessary locations for the project [1][2]. Group 2: Historical Context and Expected Outcomes - Buccaneer has utilized waterflooding in the Pine Mills region for over 50 years, achieving primary recovery of 333,851 barrels of oil as of September 2025 [3]. - The company estimates that the waterflood could yield an additional 667,000 to 1,002,000 barrels of recoverable oil, with expectations of increasing recovery rates to between 30% and 50% of the original oil in place [3][4]. Group 3: Future Plans and Regulatory Requirements - After commissioning the waterflood system, the company plans to drill the Fouke 4 well and sidetrack the Allar 1 well, with the formation of a waterflood unit required by the Texas Railroad Commission [5]. - The process of forming the waterflood unit and constructing facilities is expected to take up to six months, while production from the Turner 1 well will be reinstated during this preparatory phase [5][6].