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T2009-06-01 12:51:59 2.38 0.16 200,000 18 Genuity 18 Genuity K 

T 2009-06-01 11:32:43 2.40 0.18 463,300 33 Canaccord 33 Canaccord K 

Bankers raises extra $4-million through overallotment

2009-05-25 08:14 ET - News Release

Mr. Abby Badwi reports

BANKERS PETROLEUM RAISES AN ADDITIONAL $4 MILLION THROUGH THE EXERCISE OF THE UNDERWRITERS OVER-ALLOTMENT OPTION

In connection with Bankers Petroleum Ltd.'s recently closed $40-million bought deal equity financing, the underwriters have fully exercised their overallotment option for an additional 2,285,800 common shares at a price of $1.75 per common share for total gross proceeds of $4,000,150. In total, the company raised $44,001,650 from the offering and the net proceeds will be used for the company's production and development activities at its Patos Marinza and Kucova oil fields in Albania, and for general corporate purposes.

The offering was co-led by Canaccord Capital Corporation and Thomas Weisel Partners Canada Inc. and included Macquarie Capital Markets Canada Ltd., BMO Nesbitt Burns Inc., Genuity Capital Markets, Tristone Capital Inc. and Raymond James Ltd.

Application has been made for the 2,258,000 common shares subject to the overallotment option, to be admitted to trading on the AIM Market of the London Stock Exchange and admission is expected to occur on June 1, 2009.

Subsequent to this transaction, the company has 207,798,605 common shares outstanding, 10,587,392 options to purchase common shares and 25,713,376 common share purchase warrants.

We seek Safe Harbor.

This is going to explode!

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http://www.cnbc.com/id/30242190

April 16 (Reuters) - * Genuity cuts Addax Petroleum to hold from buy * Genuity raises Vast Exploration to buy from hold * Genuity raises Addax Petroleum price target to C$33 from C$28 * Genuity raises Bankers Petroleum price target to C$3.20 from C$2.90 * Genuity raises Niko Resources price target to C$78 from C$65 * Genuity raises Petrominerales price target to C$12 from C$10.70 * Genuity raises Pacific Rubiales price target to C$7.80 from C$6.60 (Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.