CALGARY, June 1, 2016 /PRNewswire/ - Bankers Petroleum
Ltd. ("Bankers" or the "Company") (TSX: BNK, AIM: BNK) announces a
temporary production impact from a business interruption at the
Petrolifera Italo Albanese ("PIA") Terminal port facility near
Vlore, Albania, due to a crude oil
leak that occurred when the terminal operator was loading a
third-party vessel on Sunday, May 22.
The crude oil leak has been cleaned-up; however, operations at PIA
Terminal have been suspended while local authorities conduct an
investigation into the incident.
The suspension of the export terminal has led to a shortage of
available crude storage at the port facility as well as within the
Patos-Marinza oilfield. To accommodate this, Bankers will begin to
curtail its production on Wednesday, June
1, which may lead to a full field shut-down in the next
couple of days without the ability to export crude oil at the port.
The suspension is expected to be lifted in the coming days,
allowing Bankers to resume its operations as usual.
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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.
