29 Jan 2008 13:00
Bankers Petroleum announces new appointments
CALGARY, Jan. 29 /CNW/ - Bankers Petroleum Ltd. 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 immediately.
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 Financial Advisor.
"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 Advisor."
--------- 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: Susan J. Soprovich, VP, Investor Relations and Corporate Governance, Ph: (403) 513-2681, Email: investorrelations(at)bankerspetroleum.com, Website: www.bankerspetroleum.com; AIM NOMAD: Canaccord Adams Limited, Ryan Gaffney, Adam Janikowski, +44 20 7050 6500 (BNK)
BANKERS PETROLEUM LIMITED