Bankers
Petroleum announces obtaining commitment to resolve outstanding
audit through international third-party
CALGARY, Sept. 14, 2015 /CNW/ - Bankers Petroleum Ltd.
("Bankers" or the "Company") (TSX: BNK, AIM: BNK) is pleased to
announce that it has obtained a commitment from the Albanian
National Agency for Natural Resources (AKBN) to engage a
third-party international auditor to resolve an outstanding audit
regarding eligible operating and capital expenses for cost
recovery, as has been previously disclosed in the company's
financial statements.
Over the coming weeks, the parties will select an international
auditor and expect to reach a conclusion on the matter over the
next several months. This effort is expected to also resolve a
recently received tax balance assessment of US$57 million based on the aforementioned
outstanding audit.
"This represents a significant step towards enhancing
transparency in the administration and regulation of oil and gas
activities in Albania. Bankers
views this commitment by the authorities as an important milestone
in the ongoing improvement of our operations." commented
David French, President and Chief
Executive Officer of Bankers Petroleum.
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.
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 / Wei Loon
Yap, +44 0 207 523 8000; AIM BROKER: FirstEnergy Capital LLP,
Hugh Sanderson / David van Erp, +44 0 207 448 0200