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Bankers Petroleum Operational Update for the Third Quarter 2013 Average Quarterly Production 18,541 bopd CALGARY, Oct. 4, 2013 /CNW/ - Bankers Petroleum Ltd. (Bankers or the Company)(TSX: BNK, AIM: BNK) is pleased to announce the Company's third quarteroperational update. Production, Sales and Oil Prices Average production from the Patos-Marinza oilfield in Albania for the thirdquarter of 2013 was 18,541 barrels of oil per day (bopd), 3.7% higher than17,886 bopd in the second quarter. Oil sales during the quarter averaged18,332 bopd, 1.8% higher than the previous quarter average of 18,008 bopd. Thecrude oil inventory at September 30, 2013 was 349,000 barrels, 19,000 barrelshigher than 330,000 barrels at June 30, 2013. The Patos-Marinza third quarter average oil price was approximately $86.88 perbarrel (representing 79% of the Brent oil price of $110.37 per barrel), ascompared with the second quarter average oil price of $80.45 per barrel(representing 79% of the Brent oil price of $102.43 per barrel). For the nine months ended September 30, 2013 oil sales were 17,655 bopd ($85.26per barrel) an increase of 23% from 14,393 bopd ($80.21 per barrel) for thecomparable 2012 period. Drilling Update Thirty-four (34) horizontal wells were drilled and rig released during thethird quarter in the main area of the Patos-Marinza oilfield: thirty-two (32)horizontal production wells and two (2) horizontal lateral re-drills.Twenty-five (25) of these wells were completed and are on production, and theremaining nine (9) will be placed on production in October pending rig move offthe pad, well completion, and facilities build. Bankers continues to develop the field through pad drilling of multiple zoneswithin the core area of the Patos-Marina oilfield. In conjunction with theprimary drilling program, the Company will continue to expand on the water andpolymer flood patterns. In addition, the Company drilled the second exploration well on Block "F" earlyin the third quarter and has commenced lease construction for the firsthorizontal development well at Kuçova which is expected to be spud in thefourth quarter. Secondary and Tertiary Recovery Program The Company continues to monitor its Upper Marinza water flood and Lower Drizapolymer flood patterns with initial production response expected in the firsthalf of 2014. The water flood patterns include three (3) injection wells withthe third injector added in August. The polymer flood patterns include two (2)injection wells, plus a third injector which has been converted in Septemberand will commence injection in October. Fourth quarter plans includeadditional conversion of three (3) polymer injection and up to four (4) waterinjection wells. Infrastructure Development Bankers continues to focus on key infrastructure projects aimed at reducingcost and optimizing operations in the field. Foundation work has been completedfor an additional satellite treating facility in the north-central region ofthe Patos-Marinza field as well as new sludge treatment facilities, with tankconstruction underway. Additional work on flow-lines, sour treatmentfacilities, and cascade systems continue in the fourth quarter. Updated Corporate Presentation For additional information on this operational update, please see the Octoberversion of the Company's corporate presentation at www.bankerspetroleum.com. Conference Call The Management of Bankers will host a conference call on October 4, 2013 at 7:00 am MDT to discuss this Operational Update. Following Management'spresentation, there will be a question and answer session for analysts andinvestors. To participate in the conference call, please contact the conference operatorten minutes prior to the call at 1-888-231-8191 or 1-647-427-7450. A liveaudio web cast of the conference call will also be available on Bankers websiteat www.bankerspetroleum.com or by entering the following URL into your webbrowser http://www.newswire.ca/en/webcast/detail/1234115/1359487. The web cast will be archived two hours after the presentation on the website,and posted on the website for 90 days. A replay of the call will be availableuntil October 18, 2013 by dialing 1-855-859-2056 or 1-416-849-0833 and enteringaccess code 74626638. Caution Regarding Forward-looking Information Information in this news release respecting matters such as the expected futureproduction levels from wells, future prices and netback, work plans,anticipated total oil recovery of the Patos-Marinza and Kuçova oilfieldsconstitute forward-looking information. Statements containing forward-lookinginformation express, as at the date of this news release, the Company's plans,estimates, forecasts, projections, expectations, or beliefs as to future eventsor results and are believed to be reasonable based on information currentlyavailable to the Company. Exploration for oil is a speculative business that involves a high degree ofrisk. The Company's expectations for its Albanian operations and plans aresubject to a number of risks in addition to those inherent in oil productionoperations, including: that Brent oil prices could fall resulting in reducedreturns and a change in the economics of the project; availability offinancing; delays associated with equipment procurement, equipment failure andthe lack of suitably qualified personnel; the inherent uncertainty in theestimation of reserves; exports from Albania being disrupted due to unplanneddisruptions; and changes in the political or economic environment. Production and netback forecasts are based on a number of assumptions includingthat the rate and cost of well takeovers, well reactivations and wellrecompletions of the past will continue and success rates will be similar tothose rates experienced for previous well recompletions/reactivations/development; that further wells taken over and recompleted will produce atrates similar to the average rate of production achieved from wellsrecompletions/reactivations/development in the past; continued availability ofthe necessary equipment, personnel and financial resources to sustain theCompany's planned work program; continued political and economic stability inAlbania; the existence of reserves as expected; the continued release byAlbpetrol of areas and wells pursuant to the Plan of Development and Addendum;the absence of unplanned disruptions; the ability of the Company tosuccessfully drill new wells and bring production to market; and general risksinherent in oil and gas operations. Forward-looking statements and information are based on assumptions thatfinancing, equipment and personnel will be available when required and onreasonable terms, none of which are assured and are subject to a number ofother risks and uncertainties described under "Risk Factors" in the Company'sAnnual Information Form and Management's Discussion and Analysis, which areavailable on SEDAR under the Company's profile at www.sedar.com. There can be no assurance that forward-looking statements will prove to beaccurate. Actual results and future events could differ materially from thoseanticipated in such statements. Readers should not place undue reliance onforward-looking information and forward looking statements. Review by Qualified Person This release was reviewed by Suneel Gupta, Executive Vice President and COO ofBankers Petroleum Ltd., who is a "qualified person" under the rules andpolicies of AIM in his role with the Company and due to his training as aprofessional petroleum engineer (member of APEGA) with over 20 years'experience in domestic and international oil and gas operations. About Bankers Petroleum Ltd. Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration andproduction company focused on developing large oil and gas reserves. InAlbania, Bankers operates and has the full rights to develop the Patos-Marinzaheavy oilfield, has a 100% interest in the Kuçova oilfield, and a 100% interestin Exploration Block "F". Bankers' shares are traded on the Toronto StockExchange and the AIM Market in London, England under the stock symbol BNK. SOURCE: Bankers Petroleum Ltd. For further information: David FrenchPresident and Chief Executive Officer(403) 513-6930 Doug UrchExecutive VP, Finance and Chief Financial Officer(403) 513-2691 Mark HodgsonVP, Business Development(403) 513-2695 Email: investorrelations@bankerspetroleum.comWebsite: www.bankerspetroleum.com AIM NOMAD:Canaccord Genuity LimitedHenry Fitzgerald-O'Connor+44 0 207 523 8000 AIM BROKER:FirstEnergy Capital LLPHugh Sanderson / David van Erp+44 0 207 448 0200

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