ASX RELEASE - 10 March 2014 CHIEF EXECUTIVE OFFICER SUSPENSION

Buccaneer Energy Limited (ASX: BCC) advises that Mr Curtis Burton, Chief Executive Officer and Managing Director, has been suspended with pay allowing for a review to be conducted. Mr Burton has filed a lawsuit in the District Court of Harris County Texas claiming termination of his employment contract. The Company will defend the action.
Mr John T. Young, Jr, Chief Restructuring Officer, has assumed Mr. Burton's executive responsibilities.
A further announcement will be made in due course.

For further information please contact:

Ronn Bechler
Managing Director, Market Eye
E: ronn.bechler@marketeye.com.au
P: +61-400 009 774

For information on Buccaneer Energy, please visit the Company's website at www.buccaneerenergy.comor email investorrelations@buccaneerenergy.com .


www.buccaneerenergy.com

Level 9, 25 Bligh Street

SYDNEY NSW 2000, Australia

T: +61 2 9233 2520 F: +61 2 9233 2530

ABN: 63 125 670 733

11200 Westheimer, Suite 900

Houston, TEXAS 77042, USA

T: +1 713 468 1678 F: +1 713 468 3717

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