| Bankers Petroleum Announces Settlement of Lawsuit with BP Oil | |
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CALGARY , Feb. 23, 2015 /CNW/ - Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) today announced that its subsidiary, Bankers Petroleum Albania Ltd. (BPAL), has reached a full and final settlement with BP Oil International Limited (BPOI) in connection with the September 2013 lawsuit initiated by BPOI against BPAL at the High Court of Justice in London , England. The settlement is for a payment by BPAL to BPOI of US$16.5 million inclusive of all costs and interest. The lawsuit was brought in connection with the termination by BPAL in November 2012 of a long term oil supply contract between BPAL and BPOI and initially sought damages of up to US$54.2 million for, among other things, the alleged wrongful termination of such agreement. BPOI's claim had recently been revalued at US$37.4 million to reflect movements in oil price since September 2013 . As part of the settlement, neither party admitted to wrongful or illegal conduct, and both parties' claims and counterclaims will be dismissed.
About Bankers Petroleum Ltd.
Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and production company focused on developing large oil and gas reserves. In Albania , Bankers operates and has the full rights to develop the Patos-Marinza heavy oilfield, has a 100% interest in the Kuçova oilfield, and a 100% interest in Exploration Block "F".London, England under the stock symbol BNK.
SOURCE Bankers Petroleum Ltd.
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Bankers Petroleum Ltd.
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CODE : BNK.TO |
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CUSIP : 38142Q |
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Bankers Petroleum est une société d’exploration minière de pétrole basée au Canada. Bankers Petroleum est productrice de pétrole, de gaz en Albanie, et détient divers projets d'exploration en Albanie. Son principal projet en production est PATOS-MARINZA en Albanie et ses principaux projets en exploration sont KUÇOVA et KUCOVA HEAVY OILFIELD en Albanie. Bankers Petroleum est cotée au Canada, au Royaume-Uni et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,8 milliards CA$ (2,1 milliards US$, 1,9 milliards €). La valeur de son action a atteint son plus bas niveau récent le 31 décembre 2007 à 0,35 CA$, et son plus haut niveau récent le 26 avril 2024 à 10,81 CA$. Bankers Petroleum possède 261 560 000 actions en circulation. |