BUCCANEER ENERGY PLC

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  Material uncertainty over going concern

  We draw attention to note 1 in the financial statements, which indicate that the incurred group loss of $2,178,000 during the year ended 31 December 2025 and, at that date, the net current liabilities of $373,000 and net liabilities of $1,445,000. As stated in note 1, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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  Going-concern uncertainty disclosed

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  Negative shareholders' funds

Figures converted to GBP from USD at 0.743 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. BUCCANEER ENERGY PLC 2025-06-25 → present
2. NOSTRA TERRA OIL AND GAS COMPANY PLC 2007-07-19 → 2025-06-25
3. LHP INVESTMENTS PLC 2005-01-25 → 2007-07-19
4. LHP INVESTMENTS LIMITED 2005-01-20 → 2005-01-25

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

MAH, Chartered Accountants

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 1 in the financial statements, which indicate that the incurred group loss of $2,178,000 during the year ended 31 December 2025 and, at that date, the net current liabilities of $373,000 and net liabilities of $1,445,000. As stated in note 1, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Group structure

1. BUCCANEER ENERGY PLC · parent
   1. New Horizon Energy 1 LLC 100% · USA · Oil & gas exploration
   2. Buccaneer Operating, LLC 100% · USA · Oil & gas exploration

Significant events

• “In June 2025, to reflect the new direction of the Company, Nostra Terra Oil & Gas Company plc was renamed Buccaneer Energy plc, its logo changed, and its website updated.”
• “The Group is monitoring the conflict in the Middle East following the escalation of hostilities in February 2026.”
• “On 2 September 2024, the Company terminated a 6-month consulting agreement that it had entered into with its former CEO, Matthew Blaine Lofgran, following his resignation on 19 May 2024. Mr. Lofgran is disputing this termination and has filed a case with the County Court in London on June 16, 2025, for damages totalling £68,343.16.”
• “On 2 March 2026 the Company raised £350,000 (before expenses) through a subscription and placing of 3,500,000,000 new ordinary shares at a price of 0.01p per share. Part of the funds were used in the acquisition of a 100% working interest in the Carlisle-1 well located in the Fouke area of the Pine Mills field. The transaction closed on 13 March 2026, with an effective date of 1 January 2026.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

3

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.