TIDMBNK 
 
ISS AND GLASS LEWIS RECOMMEND BANKERS SHAREHOLDERS VOTE FOR 
                     THE PROPOSED ACQUISITION BY GEO-JADE 
 
  Bankers Shareholders are encouraged to participate in the Shareholder Vote 
   and reminded to vote prior to the deadline on May 27, 2016 at 3:00 PM MDT 
                                (Calgary time). 
 
CALGARY, May 18, 2016 - Bankers Petroleum Ltd. ("Bankers") (TSX: BNK, AIM: BNK) 
is pleased to announce that Institutional Shareholder Services Inc. ("ISS") and 
Glass, Lewis & Co. ("Glass Lewis"), leading independent proxy advisory firms, 
have recommended that Bankers shareholders vote in favour of the proposed 
corporate transaction (the "Arrangement") at the Special Meeting (as defined 
below). 
 
Along with the recommendation that Bankers' shareholders vote FOR the 
Arrangement, Glass Lewis states that the proposed transaction will allow 
Shareholders to, "immediately realize an assured value at a significant premium 
to the recent unaffected share price." ISS further advised that, "a vote FOR is 
warranted based on a review of the terms of the transaction, in particular, the 
significant cash premium which provides certainty of value." 
 
As previously announced on March 20, 2016, Bankers has entered into an 
arrangement agreement (the "Arrangement Agreement") with affiliates of Geo-Jade 
Petroleum Corporation in respect of the Arrangement, which provides for the 
purchase of all the issued and outstanding common shares of Bankers "at a cash 
price of C$2.20 per Bankers Share. 
 
Special Meeting of Shareholders 
 
Bankers will host its special meeting of shareholders (the "Special Meeting") 
on May 31, 2016, seeking shareholder approval for the Arrangement. Bankers' 
shareholders of record as of April 19, 2016, are encouraged to vote at the 
Special Meeting.  The Management Information Circular prepared in connection 
with the Arrangement provides important information about Bankers and the 
Arrangement.  The Management Information Circular and related proxy materials 
are available on SEDAR and Bankers' website (http://www.bankerspetroleum.com/). 
 
The Special Meeting will be held at The Metropolitan Centre (Strand/Tivoli Rm), 
333 4th Avenue SW, Calgary, Alberta on Tuesday, May 31, 2016 at 3:00 p.m. 
(Calgary time).  Bankers will provide further information with respect to the 
timing of closing of the Arrangement and the delisting of Bankers common shares 
from the TSX and AIM as updates become available. 
 
Benefits of the Arrangement include: 
 
  * Cash price of C$2.20 per Bankers common share 
  * Bankers debt will be handled separately by the purchasing Company and will 
    not affect the stated purchase price of $2.20 per Bankers common share 
  * The Arrangement is an opportunity for shareholders to crystalize value 
    representing a premium of 98% over Bankers' closing share price on the TSX 
    of C$1.11 on March 18, 2016, and 109% over the 30-trading day volume 
    weighted average trading price of Bankers common shares of C$1.05 per share 
    ending on March 18, 2016 
  * The Arrangement has received the unanimous approval of the Board of 
    Directors of Bankers, who have recommended that shareholders vote in favor 
    of it, and carries the full support of Bankers' management team 
 
Both parties continue to pursue the outstanding regulatory approvals pursuant 
to the Investment Canada Act (Canada) and the Chinese State Administration of 
Foreign Exchange (SAFE). If approved at the Special Meeting closing of the 
Arrangement remains on track to occur in June 2016, following which, the 
Bankers Shares will be delisted from the Toronto Stock Exchange ("TSX") and the 
AIM market of the London Stock Exchange. 
 
Shareholder Questions 
 
Shareholders who have questions regarding the Arrangement or require assistance 
with voting may contact the Proxy Solicitation Agent below: 
 
Laurel Hill Advisory Group 
 
Toll Free: 1-877-452-7184 
 
International: +1 416-304-0211 outside Canada and the US 
 
By Email: assistance@laurelhill.com 
 
                  Your Vote is Important. Please Vote Today. 
 
                                  ----------- 
 
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. 
 
For further information, contact: 
 
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 and Corporate 
Communications Specialist       (403) 513-3428 
 
Email: investorrelations@bankerspetroleum.com 
 
Website: http://www.bankerspetroleum.com/ 
 
AIM NOMAD: 
 
Canaccord Genuity Limited 
Henry Fitzgerald-O'Connor 
+44 0 207 523 8000 
 
AIM BROKER AND FINANCIAL ADVISOR: 
 
FirstEnergy Capital LLP 
Hugh Sanderson / David van Erp 
+44 0 207 448 0200 
 
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 proposed Arrangement and the anticipated 
timing of closing, the timing of receipt of required regulatory approvals, the 
timing of the Special Meeting, the treatment of Bankers debt and the delisting 
of the Bankers Shares following completion of the Arrangement. By their nature, 
forward-looking statements are subject to numerous risks and uncertainties, 
some of which are beyond Bankers' control. Completion of the Arrangement is 
subject to a number of conditions, including receipt of the approval's required 
by the Investment Canada Act (Canada) and approvals required by the People's 
Republic of China and the competition authority of Albania, and other 
conditions which are typical for transactions of this nature. Failure to 
satisfy any of these conditions, the emergence of a superior proposal or the 
failure to obtain approval of Bankers' shareholders may result in the 
termination of the Arrangement Agreement. The foregoing list is not exhaustive. 
Additional information on these and other risks that could affect completion of 
the Arrangement is set forth in the information circular in respect of the 
Special Meeting, which is available on SEDAR at www.sedar.com. 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. 
 
 
 
END 
 

(END) Dow Jones Newswires

May 18, 2016 08:53 ET (12:53 GMT)

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