CALGARY, June 30 /CNW/ - Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) is
pleased to announce that shareholders approved all of the motions described in
the management information circular dated May 27, 2008 at the Annual General
and Special Meeting held June 27, 2008. In addition to electing the proposed
slate of directors for the ensuing year, Bankers' shareholders approved: (a)
the continuation of Bankers' Stock Option Plan and the unallocated
entitlements there under; (b) the plan of arrangement pursuant to which
Bankers will spin off its U.S. operations and assets as a new public company
called BNK Petroleum Inc. (the "Plan of Arrangement"); and (c) the subsequent
consolidation of Bankers' shares on a one (1) new post-consolidation Bankers
Share for every three (3) pre-consolidation Bankers Shares (the
"Post-Arrangement Share Consolidation").
With respect to the Plan of Arrangement and the Post-Arrangement Share
Consolidation, over 99.9% of shareholders voted in favour of all voting
shareholders. The record date for the Plan of Arrangement is yet to be
determined and will be announced shortly.
A complete summary of the voting results is available at 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 oil field and has a 50% interest in the Kucova oil field. It also holds
an average 50% interest in the Tishomingo gas field in Oklahoma and varied
interests in three other areas in the Northern and Central regions of the
United States, where it is currently pursuing the exploration, development and
production of shale and tight sand gas plays. Bankers' shares are traded on
the Toronto Stock Exchange and the AIM Market in London, England under the
stock symbol BNK.
For further information:
For further information: Abby Badwi, Chief Executive Officer, (403)
513-2694; Doug Urch, VP, Finance and Chief Financial Officer, (403) 513-2691;
Susan J. Soprovich, VP, Investor Relations and Corporate Governance, (403)
513-2681, Email: firstname.lastname@example.org, Website:
www.bankerspetroleum.com; AIM NOMAD: Canaccord Adams Limited, Ryan Gaffney,
Adam Janikowski, +44 20 7050 6500; AIM JOINT BROKERS: Canaccord Adams Limited,
Ryan Gaffney, Adam Janikowski, +44 20 7050 6500; Tristone Capital Ltd., Nick
Morgan, +44 20 7355 5800