Bankers Petroleum Operational Update for the Second Quarter 2013

       Bankers Petroleum Operational Update for the Second Quarter 2013

PR Newswire

CALGARY, July 4, 2013

Average Quarterly Production 17,800 bopd

CALGARY, July 4, 2013 /PRNewswire/ - 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 2013  was 17,800  barrels of  oil per  day (bopd),  5% higher  than 
16,919 bopd  in the  first quarter.  Oil sales  during the  quarter  averaged 
18,008  bopd, 8% higher than the previous quarter average of 16,605 bopd. The
crude oil inventory at June 30, 2013 was 330,000 barrels, 10,000 barrels  less 
than 340,000 barrels at March 31, 2013.

The Patos-Marinza second  quarter average oil  price was approximately  $80.36 
per barrel (representing 78% of the Brent oil price of $102.44 per barrel), as
compared with  the  first quarter  average  oil  price of  $88.70  per  barrel 
(representing 79% of the Brent oil price of $112.57 per barrel).

For the six months ended June 30, 2013 oil sales were 17,310 bopd ($84.34  per 
barrel) an  increase of  26% from  13,724  bopd ($80.57  per barrel)  for  the 
comparable 2012 period.

Drilling Update

Thirty-nine (39) horizontal  wells were  drilled and rig  released during  the 
second quarter in the  main area of  the Patos-Marinza oilfield:  thirty-five 
(35) horizontal production wells and  four (4) horizontal lateral  re-drills. 
Thirty-four (34) of these wells were completed and are on production, and  the 
remaining five (5) will be placed on production in July.

The Company continues to focus on pad drilling within production fairways  and 
ongoing legacy  vertical  well  remediation, where  necessary,  ahead  of  the 
program. Pattern development drilling for secondary recovery techniques in the
Marinza and Lower Driza zones has continued in the second quarter.

Secondary and Tertiary Recovery Program

The Company progressed with the first polymer flood pilot, converting a second
well to injection. With continued satisfactory results, a further three  wells 
are expected  to  be converted  in  the  third quarter.  Contingent  on  pilot 
results,  commercial  polymer  preparation  equipment  has  been  sourced  for 
delivery in 2014. A water flood pattern was also initiated with the first well
converted and  placed on  injection early  in the  quarter and  a second  well 
converted and placed on injection in July.

Block "F"

The exploration  well  in Block  "F"  was spudded  June  30^th, 2013,  and  is 
expected to take  21 days to  drill. This  is the second  exploration well  in 
Block "F" and will complete Bankers two well obligation on the block.

Infrastructure Development

Key 2013 infrastructure projects including flow lines and satellite  treatment 
facilities, tank storage expansion, and sludge treatment facilities  commenced 
construction  at  Patos-Marinza  in  the  second  quarter  and  will  continue 
throughout the balance of the year.

Updated Corporate Presentation

For additional information  on this  operational update, please  see the  July 
2013    version    of    the     Company's    corporate    presentation     at 
www.bankerspetroleum.com.

Conference Call

The Management of Bankers will host a conference call on July 5, 2013 at  7:00 
am MDT to discuss this Operations 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 http://www.bankerspetroleum.com  or by entering  the following  URL 
into your web browser http://www.newswire.ca/en/webcast/detail/1136995/1240855

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 19, 2013 by  dialing 1-855-859-2056 or 1-416-849-0833 and  entering 
access code 99227901.

                                 ------------

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 COO 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.

Contact:

David French President and Chief Executive Officer (403) 513-6930
Doug Urch Executive VP, Finance and Chief Financial Officer (403) 513-2691
Mark Hodgson VP, Business Development (403) 513-2695

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
 
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