Block "F" Exploration Well Suspended
CALGARY, July 23, 2013 /CNW/ - Bankers Petroleum Ltd. ("Bankers" or the
"Company") (TSX: BNK, AIM: BNK) reports that the 5350 Block "F" well in
Albania reached a total depth of 2,776 meters measured depth on July
17, 2013. Petrophysical and geological information indicates that the
well did not encounter any hydrocarbon bearing zones that would merit
testing. The well was suspended.
This is the second exploration well in Block "F", completing Bankers two
well commitment on the block. Technical evaluation of the block will
continue into the fall and Bankers is reviewing several other prospects
including a seismic program in the next two years.
Bankers is pleased to note that the Trans Adriatic Pipeline (TAP) has
recently been selected for transport of gas from the Shah Deniz gas
field in Azerbaijan through Greece and Albania into Italy as early as
2019. This planned expansion of natural gas infrastructure in Albania
may provide a long term alternative to Bankers' power and steam
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
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.
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