CALGARY, Jan. 29 /CNW/ - Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) is
pleased to announce the appointment of Abdel F. (Abby) Badwi as Chief
Executive Officer, Douglas C. Urch as Vice President, Finance and Chief
Financial Officer and Ian McMurtrie as Vice President, Exploration effective
Mr. Badwi was appointed to the Board of Directors of Bankers on
November 2, 2007. Mr. Richard Wadsworth will continue as President and Chief
Operating Officer. With Mr. Urch's appointment, Mr. Juneyt Tirmandi has
stepped down from the position of Chief Financial Officer and will continue as
"On behalf of the Company and the Board, I would like to welcome Mr. Urch
and Mr. McMurtrie to Bankers, who will provide additional strength to the
team, and thank Mr. Tirmandi for his contribution during his time at Bankers,"
said Bob Cross, Chairman. "Juneyt was instrumental in improving the
professional standards of the finance role at the Company, and we look forward
to his continued involvement and commitment in his new role as Financial
Douglas C. Urch, B. Comm., CMA
Mr. Urch has over 25 years of oil and gas industry experience. From
September 2000 until January 2008, he was Vice President, Finance and Chief
Financial Officer of Rally Energy Corp. and its subsidiaries. Prior to this
time, Mr. Urch provided financial management services for a variety of public
and private companies. He was Chief Financial Officer, Controller and
Corporate Secretary of Barrington Petroleum Ltd. from 1991 to 1993 and
Controller at Ryerson Oil and Gas Limited from 1983 to 1991. Mr. Urch is
currently a Director and President of Perpetual Ventures Inc., a Director and
Chief Financial Officer of L1 Capital Corp., Chief Financial Officer of
Sunshine Oilsands Ltd. and Mohave Exploration & Production Inc., all of which
are private companies. He was a Director and Chief Financial Officer of
PayLinx Financial Corp., a TSXV listed company from May 2004 to June 2007. Mr.
Urch is 49 years of age.
Mr. Urch holds one million common shares, one million share purchase
warrants of the Company and one million two hundred thousand stock options
subject to TSX approval. He also holds an additional two hundred thousand
common shares and two hundred thousand share purchase warrants of the Company
through Perpetual Ventures Inc. subject to TSX approval.
Ian McMurtrie, P. Geol.
Mr. McMurtrie was Vice President, Exploration of Rally Energy Corp. from
July 2004 until January 2008 and provided advisory services to that company
since late 2003. Prior to advising Rally Energy Corp. he was and remains
President of Cawdor Investments Ltd., a private company managing oil and gas
royalties and providing technical oil and gas consulting services to public
and private companies. Mr. McMurtrie commenced his exploration career with
Texaco Exploration Canada Ltd. He has been directly involved in the discovery
and development of numerous oil and gas pools throughout North America for
such companies as Czar Resources Ltd., United Rayore Gas Ltd., and Raptor
Capital Corporation. Mr. McMurtrie has extensive expertise in the development
of oil pools using innovative drilling technologies. He is currently a
Director of Stealth Ventures Ltd., Raptor Capital Corp., and Mohave
Exploration & Production Inc. Mr. McMurtrie is 59 years of age.
Mr. McMurtrie holds one million two hundred thousand common shares, one
million two hundred thousand share purchase warrants of the Company and one
million two hundred thousand stock options subject to TSX approval.
About Bankers Petroleum Ltd.
Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and
production company focused on opportunities in unconventional petroleum
assets. Bankers holds interests in four prospects in the Northern and Central
regions of the United States, where it is currently pursuing the exploration
of shale and tight gas sand plays. It also operates in the Patos-Marinza
oilfield in Albania pursuant to a license agreement, producing heavy oil.
Bankers shares are traded on the Toronto Stock Exchange and the AIM Market in
London, England under the ticker symbol BNK.
For further information:
For further information: Susan J. Soprovich, VP, Investor Relations and
Corporate Governance, Ph: (403) 513-2681, Email:
firstname.lastname@example.org, Website: www.bankerspetroleum.com; AIM
NOMAD: Canaccord Adams Limited, Ryan Gaffney, Adam Janikowski, +44 20 7050