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

Big Banc SplitAnnouncement

02/06/2016 14:05

Bankers Petroleum temporarily shuts-in production due to a business
interruption at the port 
 
 
 CALGARY, June 2, 2016 /CNW/ - Bankers Petroleum Ltd. ("Bankers" or the
"Company") (TSX: BNK, AIM: BNK) began temporarily shutting-in production early
this morning in Albania due to the previously announced business interruption
at the Petrolifera Italo Albanese ("PIA") Terminal port facility near Vlore,
Albania. The suspension of the export terminal over the past week has led to a
shortage of available crude storage at the port facility as well as within the
Patos-Marinza oilfield. The Company expects the suspension to be lifted in the
coming days, allowing Bankers to resume operations. 
 
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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. 
 
 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. 
 

   
 
 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 
 

   
 


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