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Re:   News Releases - Tuesday, January 13, 2009
      Bankers Petroleum Provides Operational And Corporate Update
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Exit Production Rate for 2008 was 6,960 bopd

CALGARY, January 13, 2009 - Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK)
is pleased to announce the following operational and corporate updates.

Production

Fourth quarter production averaged 6,563 bopd from the Patos Marinza
oil field in Albania compared to third quarter production of 5,880
bopd. Net oil inventory at the end of December was approximately 90,000
barrels, an increase of 10,000 barrels from the previous quarter. The
exit production rate was 6,960 bopd and represents a 31% increase from
the 2007 exit production rate of 5,300 bopd. During the quarter, 11
re-activation operations of existing wells were completed with 10 wells
placed on production. Six new oil wells were also drilled.

Production for 2008 averaged 5,874 bopd, generating revenue of
approximately $110 million, representing an average price of $51.29 per
barrel.

Patos Marinza Oil Price

Fourth quarter average oil price was approximately $29.62 per barrel
(54% of the Brent oil price), 52% lower than the third quarter price of
$62.08 per barrel.

Drilling Update

Eleven new vertical infill wells were drilled in 2008 with 10 oil wells
currently on production and one well awaiting completion. Total
production from the new wells was 320 bopd with individual well
averages ranging from 15 to 75 bopd. Several of the wells are
demonstrating productive capabilities beyond their existing completion
configurations and will be re-equipped with larger tubing and rods in
order to maximize production rates. Others, with lower production
rates, will have additional pay sections perforated and commingled with
existing production.

The field extension well (5012) has also been drilled and log analysis
indicates 42 meters of potential net oil pay from the four main
producing formations. The well is currently being tested to evaluate
productivity of the different pay zones.

The first horizontal well (5013) in Patos Marinza has been successfully
drilled and completed with 375 meters of lateral pay section. The well
is currently producing at a rate of 120 bopd. Fluid levels in the well
are high and production rates are expected to increase as the well is
optimized.

Overall, the production levels from all the new wells are in line with
forecast.

Ku�ova

Technical evaluations of the Ku�ova pools are advancing. This analysis
indicates that there is significant evidence that the implementation of
waterflood technology will increase production rates and reserves
recovery. Current plans call for a first phase waterflood demonstration
project involving the re-activation of a 14 well unit in the second
quarter of 2009.

Liquidity

Total cash on deposit as at December 2008 was approximately $18.5
million and total debt with Raiffeisen Bank was US$28.3 million. In
January 2009, the Company received approval for an increase to its
existing facility to $35 million, of which $11 million continues as a
three-year term loan, a new $4 million five-year term loan and a $20
million revolving operating loan facility renewable after its maturity
in February 2010. To supplement the Raiffeisen facility, the Company
continues to examine other proposals for reserve-based debt facilities
that will be more closely aligned with the year-end 2008 reserves, when
finalized in February.

Abby Badwi President and CEO of Bankers said:

"We had a successful re-activation and drilling program in 2008
including the first horizontal well at the Patos Marinza oil field and,
despite reduced capital expenditures in the fourth quarter to cope with
low oil prices, the Company was able to achieve its exit rate
production guidance of approximately 7,000 bopd. We will continue to
monitor oil prices and adjust our capital expenditure programs
accordingly to remain within our financial capabilities".

Caution Regarding Forward-looking Information

Information in this news release respecting matters such as the
expected future production levels from wells, future prices and
netback, work plans, anticipated total oil recovery of the Patos
Marinza and Ku�ova oil fields constitute forward-looking information.
Statements containing forward-looking information express, as at the
date of this news release, the Company's plans, estimates, forecasts,
projections, expectations, or beliefs as to future events or results
and are believed to be reasonable based on information currently
available to the Company.

Exploration for oil is a speculative business that involves a high
degree of risk. The Company's expectations for its Albanian operations
and plans are subject to a number of risks in addition to those
inherent in oil production operations, including: that Brent oil prices
could fall resulting in reduced returns and a change in the economics
of the project; availability of financing; delays associated with
equipment procurement, equipment failure and the lack of suitably
qualified personnel; the inherent uncertainty in the estimation of
reserves; exports from Albania being disrupted due to unplanned
disruptions; and changes in the political or economic environment.

Production and netback forecasts are based on a number of assumptions
including that the rate and cost of well takeovers, well reactivations
and well recompletions of the past will continue and success rates will
be similar to those rates experienced for previous well
recompletions/reactivations/development; that further wells taken over
and recompleted will produce at rates similar to the average rate of
production achieved from wells recompletions/reactivations/development
in the past; continued availability of the necessary equipment,
personnel and financial resources to sustain the Company's planned work
program; continued political and economic stability in Albania;
approval of the Addendum to the Plan of Development; the existence of
reserves as expected; the continued release by Albpetrol of areas and
wells pursuant to the Plan of Development and Addendum; the absence of
unplanned disruptions; the ability of the Company to successfully drill
new wells and bring production to market; and general risks inherent in
oil and gas operations.

Forward-looking statements and information are based on assumptions
that financing, equipment and personnel will be available when required
and on reasonable terms, none of which are assured and are subject to a
number of other risks and uncertainties described under "Risk Factors"
in the Company's Annual Information Form and Management's Discussion
and Analysis, which are available on SEDAR under the Company's profile
at http://www.sedar.com.

There can be no assurance that forward-looking statements will prove to
be accurate. Actual results and future events could differ materially
from those anticipated in such statements. Readers should not place
undue reliance on forward-looking information and forward looking
statements.

Review by Qualified Person

This release was reviewed by Abdel F. (Abby) Badwi, CEO of Bankers
Petroleum Ltd., who is a "qualified person" under the rules and
policies of AIM in his role with the Company and due to his training as
a professional petroleum geologist (member of APEGGA) with over 39
years experience in domestic and international oil and gas operations.

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, Bankers operates and has the full rights to develop both the
Patos Marinza and the Ku�ova heavy oil fields. Bankers' shares are
traded on the Toronto Stock Exchange and the AIM Market in London,
England under the stock symbol BNK.

For further information, contact:
Abby Badwi
President and Chief Executive Officer
(403) 513-2694

Doug Urch
VP, Finance and Chief Financial Officer
(403) 513-2691

Email: investorrelations@bankerspetroleum.com
Website: www.bankerspetroleum.com

AIM NOMAD:
Canaccord Adams Limited
Ryan Gaffney/ Henry Fitzgerald-O'Connor
+44 20 7050 6500

AIM JOINT BROKERS:
Canaccord Adams Limited
Ryan Gaffney/ Henry Fitzgerald-O'Connor
+44 20 7050 6500

Tristone Capital Ltd.
Nick Morgan
+44 20 7355 5800

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Copyright (c) 2009 BANKERS PETROLEUM LTD. (BNK.H)  All rights reserved.
 For more information visit our website at http://www.bankerspete.com/
or send mailto:info@bankerspetroleum.com
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