CALGARY, Jan. 27, 2016 /CNW/ - Bankers Petroleum Ltd. ("Bankers" or the "Company") (TSX: BNK; AIM: BNK) announces that it has re-filed its Management's Discussion and Analysis of financial results for the three and nine months ended September 30, 2015 (the "MD&A") as a result of a review by the Alberta Securities Commission pursuant to its ongoing continuous disclosure review program. This was done in an effort to clarify and expand upon its continuous disclosure regarding the financial covenants contained in the Company's credit facilities.
The MD&A has been re-filed to include additional disclosure in respect of the financial covenants to which the Company is subject to pursuant to the terms of its credit facilities, including calculations and related explanations of the Company's compliance with such covenants. Additional disclosure has also been provided regarding provisions relating to the availability of funds pursuant to the credit facilities provided by the International Finance Corporation and the European Bank for Reconstruction and Development.
In connection with the re-filing of the MD&A, the Company has filed Form 52-109F2R certificates for each of the Company's Chief Executive Officer and Chief Financial Officer pursuant to the provisions of National Instrument 52-109 – Certification of Disclosure in Issuer's Annual and Interim Filings.
The re-filed MD&A and related Form 52-109F2R certificates are available under the Company's profile on www.sedar.com.
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.
For further information: 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: firstname.lastname@example.org, 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