cnw
CALGARY, Dec. 6 /CNW/ - Bankers Petroleum Ltd. ("Bankers" or the
"Company") (TSX: BNK, AIM: BNK) would like to provide the following
update on the flooding situation in Albania.
On December 4th, 2010, the banks of the Semani river which winds through the northern
half of the Patos-Marinza oilfield were breached by high water levels
due to heavy rainfall. The flooding, which extends into current areas
of development in the field, has caused Bankers to shut in 1,800 bopd
of production and shut down operations of three workover rigs and one
drilling rig. The rain has currently ceased, the river is back within
the banks, water levels are beginning to recede and as of this morning,
1,200 bopd of production have been restored. While new rainfall may add
to delays in resumption of activity, Bankers is optimistic that
activity will resume at full capacity in short order. A full
assessment of property and equipment damage is underway. Bankers is
happy to report that all employees and consultants are safe and no
injuries have been sustained. Additionally, the Company is pleased to
be assisting the local communities.
Please refer to Bankers website www.bankerspetroleum.com for pictures of the flooding.
Bankers active production on December 4th, prior to curtailing activities due to flooding, was 11,200 bopd with
multiple horizontal wells in the early ramp up stage of production and
several new wells planned for the remainder of this month.
---------
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 both the
Patos-Marinza and the Kucova heavy oil fields. Bankers' shares are
traded on the Toronto Stock Exchange and the AIM Market in London,
England under the stock symbol BNK.