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Re: News Release - Thursday, July 23, 2009
Bankers Petroleum Raises CDN$12 Million From EBRD Warrant
Proceeds 2009 Second Quarter Financial Results Available On
August 14
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CALGARY, July 23, 2009 - Bankers Petroleum Ltd. ("Bankers") (TSX: BNK,
AIM: BNK) is pleased to announce that the European Bank for
Reconstruction and Development ("EBRD") has exercised its entire
warrant holdings of 8.0 million warrants, issued on May 8, 2009 and
priced at CDN$1.50/share, generating proceeds of CDN$12.0 million. The
warrants were granted to EBRD along with a similar amount to the
International Finance Corporation (that were previously exercised on
July 10th), as part of the previously announced US$110 million credit
facility. Application has been made to admit the 8.0 million common
shares issued upon the EBRD warrant exercise to London's AIM Exchange
and admission is expected to be effective on July 30, 2009.
Bankers would like to welcome EBRD as a new institutional shareholder
of the Company. EBRD is the largest institutional investor in Albania,
with its key focus areas being infrastructure development and
rehabilitation of the energy sector in Albania.
Subsequent to this transaction, Bankers has 223,886,772 Common Shares
outstanding, 13,455,892 options to purchase Common Shares and 9,713,376
Common Share purchase warrants.
2009 Second Quarter
Bankers expects to release its 2009 second quarter financial and
operating results on August 14 and will hold a conference call on
August 17. The conference call-in details will be announced when
finalized.
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 the
Patos-Marinza and Kucova 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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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. |