Buccaneer Energy Limited, an Australia-based company focused on exploration in North America, has suspended its Chief Executive Officer.

The company today said that  Curtis Burton, the company’s CEO, and Managing Director, has been suspended with pay allowing for a review to be conducted.

Buccaneer said that 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, Buccabeer said.

John T. Young, Jr, Chief Restructuring Officer, has assumed Burton’s executive responsibilities.