Bankers Petroleum Operational Update for the Second Quarter 2014

Average Quarterly Production 20,630 bopd

CALGARY, July 7, 2014 /CNW/ - Bankers Petroleum Ltd. (Bankers or the Company)
(TSX: BNK, AIM: BNK) is pleased to announce the Company's second quarter
operational update.

Production, Sales and Oil Prices

Average production from the Patos-Marinza oilfield in Albania for the second
quarter of 2014 was 20,630 barrels of oil per day (bopd), 3.6% higher than
19,911 bopd in the first quarter of 2014.

Oil sales during the quarter averaged 21,627 bopd, 17.3% higher than the
previous quarter average of 18,435 bopd, with inclusion of the export cargo
that carried over from the first quarter into the first few days of April.
Crude oil inventory at June 30, 2014, decreased 20% to 354,000 barrels, 90,000
barrels lower than 444,000 barrels at March 31, 2014.

The Patos-Marinza second quarter average oil price was approximately $86.68 per
barrel (representing 79% of the Brent oil price of $109.63 per barrel), as
compared with the first quarter average oil price of $87.39 per barrel
(representing 81% of the Brent oil price of $108.21 per barrel).

For the six months ended June 30, 2014, average oil sales were 20,040 bopd
($87.00 per barrel) an increase of 16% from 17,310 bopd ($84.39 per barrel) for
the comparable 2013 period.

Drilling Update

Forty-two (42) wells were drilled and rig released during the second quarter in
the main area of the Patos-Marinza oilfield: thirty-nine (39) horizontal
production wells and three (3) horizontal lateral re-drills. Thirty-four (34)
of these wells were completed and are on production with the remaining eight
(8) to be placed on production in July pending drilling rig move off the pad,
well completions and facilities tie-in.

The Company continues to focus on development in the main area of the
Patos-Marinza oilfield through multi-well pad drilling with six drilling rigs
currently in operation.

Secondary Recovery Program

Close monitoring continues on the water and polymer flood programs. All
patterns continue to show positive early stage production trends. Reservoir
pressure and production response are rising and following current projection
models with injection performance achieving target rates indicative of good
reservoir conformance.

To-date Bankers has implemented three (3) water flood injectors in the Upper
Marinza zone (M0 reservoir sand) and nine (9) polymer flood injectors in three
(3) separate Lower Driza zones (D5, D4, and D3 reservoir sands) in the
Patos-Marinza oilfield. The Company plans to expand the patterns with
conversion of up to an additional ten (10) wells in the second half of the year
with a projected schedule of three (3) polymer flood injector conversions in
the third quarter, six (6) polymer flood conversions in the fourth quarter, and
one (1) water flood conversion in the fourth quarter.

Procurement of mixing and pumping equipment is underway to support the
expansion along with construction of pipelines to move polymer solution and
emulsion between central mixing and treating locations to pad locations for
improved efficiency and cost effectiveness.

Infrastructure Development

In the second quarter of 2014, the Company commenced disposal in two (2) water
disposal wells drilled in the first quarter and commenced operation of the new
sludge treatment facility. Three (3) well pads in the northern and central
areas of the Patos-Marinza oilfield have been electrified with two (2) pads
completed in the second quarter. An additional four to six (4 to 6) pads are
projected to be electrified in the second half of the year.

Emulsion gathering projects in the northern and western areas of the main field
are progressing with construction projected to start this summer for completion
in the first quarter of next year. This will significantly reduce the in-field
trucked volume costs by $0.40 to $0.50 per barrel over the next year.

Bankers remains focused on key infrastructure projects aimed at reducing costs
and optimizing operations including diluent reduction, improved emulsion
treating, expansion of the flow-line system, sour treatment facilities and gas
gathering.

Updated Corporate Presentation

For additional information on this Operational Update please see the Company's
July 2014 corporate presentation at www.bankerspetroleum.com.

Conference Call

The Management of Bankers will host a conference call on July 7, 2014, at 6:30
am MDT to discuss this Operational Update. Following Management's presentation
there will be a question and answer session for analysts and investors.

To participate in the conference call, please contact the conference operator
ten minutes prior to the call at 1-888-231-8191 or 1-647-427-7450. A live audio
web cast of the conference call will also be available on Bankers website at
www.bankerspetroleum.com or by entering the following URL into your web
browser, http://www.newswire.ca/en/webcast/detail/1379735/1530353.

The web cast will be archived two hours after the presentation on the website,
and posted on the website for 90 days. A replay of the call will be available
until July 21, 2014, by dialing 1-855-859-2056 or 1-416-849-0833 and entering
access code 67552347.

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 Kuçova oilfields
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; 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 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 Suneel Gupta, Executive Vice President and Chief
Operating Officer 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 engineer (member of APEGA) with over 20
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 the Patos-Marinza
heavy oilfield, has a 100% interest in the Kuçova oilfield, and a 100% interest
in Exploration Block "F". Bankers' shares are traded on the Toronto Stock
Exchange and the AIM Market in London, England under the stock symbol BNK.

SOURCE: Bankers Petroleum Ltd.

For further information:

David French President and Chief Executive Officer (403) 513-6930
Doug Urch Executive VP, Finance and Chief Financial Officer (403) 513-2691
Laura Bechtel Investor Relations Analyst (403) 513-3428

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

AIM NOMAD:
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor
+44 0 207 523 8000

AIM BROKER:
FirstEnergy Capital LLP
Hugh Sanderson / David van Erp
+44 0 207 448 0200

(BNK.)

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