| Bankers Petroleum Flooding Impact and Resumed Water Handling Capacity | |
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CALGARY, Feb. 11, 2015 /PRNewswire/ - Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) announces a temporary production impact from recent flooding caused by unusually heavy rain in Albania and the surrounding Balkan region. Additionally, Bankers is pleased to announce the resumption of its full water handling system. Flooding On February 1, Bankers was forced to shut-in 81 wells, or the equivalent of approximately 3,500 barrels of oil per day (bopd) due to rising water levels preventing access to facilities as the nearby river breached its banks. There has been no significant damage to the equipment or facilities in the affected area. As the river begins to recede, Bankers has been working to restart the accessible wells and expects all wells to be back on production over the next week provided there are no further flooding issues. As part of Bankers strategy to reduce operating costs, the Northern flow line system, currently under construction, will reduce trucking in this area and is expected to minimize future production disruption caused by flooding. Bankers is actively involved with helping nearby communities recover from the flooding and offers its sincere condolences to all those affected. Water Disposal Update |
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Bankers Petroleum Ltd.
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CODE : BNK.TO |
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CUSIP : 38142Q |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Bankers Petroleum is a oil exploration company based in Canada. Bankers Petroleum produces oil, natural gas in Albania, and holds various exploration projects in Albania. Its main asset in production is PATOS-MARINZA in Albania and its main exploration properties are KUÇOVA and KUCOVA HEAVY OILFIELD in Albania. Bankers Petroleum is listed in Canada, in Germany and in United Kingdom. Its market capitalisation is CA$ 2.8 billions as of today (US$ 2.1 billions, € 1.9 billions). Its stock quote reached its lowest recent point on December 31, 2007 at CA$ 0.35, and its highest recent level on April 26, 2024 at CA$ 10.81. Bankers Petroleum has 261 560 000 shares outstanding. |