CALGARY, June 2, 2016 /PRNewswire/ - 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.
SOURCE Bankers Petroleum Ltd.