REG-Bankers Petroleum Limited: Statement re temporary production impact <Origin Href="QuoteRef">BNK.TO</Origin>

Big Banc SplitAnnouncement

01/06/2016 15:00

BANKERS PETROLEUM TEMPORARILY CURTAILS PRODUCTION 
 DUE TO A BUSINESS INTERRUPTION AT THE PORT 
 
 CALGARY, June 1, 2016 – Bankers Petroleum Ltd. (“Bankers” or the
“Company”) (TSX: BNK, AIM: BNK) announces a temporary production impact
from a business interruption at the Petrolifera Italo Albanese (“PIA”)
Terminal port facility near Vlore, Albania, due to a crude oil leak that
occurred when the terminal operator was loading a third-party vessel on
Sunday, May 22. The crude oil leak has been cleaned-up; however, operations at
PIA Terminal have been suspended while local authorities conduct an
investigation into the incident. 
 
 The suspension of the export terminal has led to a shortage of available
crude storage at the port facility as well as within the Patos-Marinza
oilfield. To accommodate this, Bankers will begin to curtail its production on
Wednesday, June 1, which may lead to a full field shut-down in the next couple
of days without the ability to export crude oil at the port.  The suspension
is expected to be lifted in the coming days, allowing Bankers to resume its
operations as usual. 
 
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 About Bankers Petroleum Ltd. 
 
 Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and
production company focused on developing large oil and gas reserves in Albania
and Eastern Europe.  In Albania, Bankers operates and has the full rights to
develop the Patos-Marinza heavy oilfield, has a 100% interest in the Kuçova
oilfield, and a 100% interest in Exploration Block “F”.  In 2015 Bankers
acquired an 85% interest in the rights to explore the Püspökladány Block
concession within the Pannonian Basin located in north eastern Hungary.  The
Bankers Shares are traded on the TSX and the AIM Market in London, England
under the stock symbol BNK. 
 
 For further information, contact: 
 
 David French                        President and
Chief Executive Officer
                                          
(403) 513-6930 
 Doug Urch                             Executive
VP, Finance and Chief Financial Officer                    
(403) 513-2691 
 Laura Bechtel                      Investor Relations
and Corporate Communications Specialist                 (403)
513-3428 
 
 Email: investorrelations@bankerspetroleum.com 
 Website: www.bankerspetroleum.com 
 
 AIM NOMAD: 
 Canaccord Genuity Limited 
 Henry Fitzgerald-O’Connor 
 +44 0 207 523 8000 
 
 AIM BROKER AND FINANCIAL ADVISOR: 
 FirstEnergy Capital LLP 
 Hugh Sanderson / David van Erp 
 +44 0 207 448 0200 
 
 Caution Regarding Forward-looking Information 
 
 Certain information set forth in this press release, including information
and statements which may contain words such as “could”, “plans”,
“intends” “should”, “anticipate”, “expects”, “will”,
“propose”, “opportunity”, “future”, “continue”, and similar
expressions and statements relating to matters that are not historical facts,
contain forward-looking statements, including but not limited to statements
regarding: the suspension of operations at the PIA Terminal, the curtail of
Bankers’ production, and the resumption of Bankers’ production and
operations at the PIA Terminal . By their nature, forward-looking statements
are subject to numerous risks and uncertainties, some of which are beyond
Bankers' control.. The foregoing list is not exhaustive. Readers are cautioned
that the assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be imprecise
and, as such, undue reliance should not be placed on forward-looking
statements. The actual results, performance or achievement of Bankers could
differ materially from those expressed in, or implied by, these
forward-looking statements and, accordingly, no assurance can be given that
any of the events anticipated by the forward-looking statements will transpire
or occur, or if any of them do so, what benefits that Bankers will derive
therefrom. Bankers disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by applicable securities laws. 
 


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