Bankers - Appointments

16 Dec 2005 07:00

Bankers Petroleum Limited16 December 2005 BANKERS PETROLEUM LTD. ANNOUNCES APPOINTMENTS December 15, 2005 BNK: TSX BNK: AIM December 15, 2005, Calgary, Alberta - Bankers Petroleum Ltd. (TSX: BNK, AIM:BNK) (the "Company") is pleased to announce the following appointments: •Mr. C.S. (Juneyt) Tirmandi as Chief Financial Officer - Mr. Tirmandi has served on the Board of Directors of the Company since June 2005 and will continue as a director. He is a Chartered Accountant and a Chartered Business Valuator with extensive experience in senior financial positions in the oil and gas industry. Prior to his appointment, Mr. Tirmandi was a Senior Vice President of Tamarack Capital Advisors Inc. Between 1986 and 2000, Mr. Tirmandi was C.F.O. of a number of oil and gas companies including TransGlobe Energy Corporation; Transwest Gas Systems Ltd., and Rio Alto Exploration Ltd. Mr. Tirmandi obtained the Chartered Business Valuator designation from the Canadian Institute of Chartered Business Valuators in 1995, and the Chartered Accountant designation from the Institute of Chartered Accountants of Alberta, in 1984. He received his B.A. in Finance and Accounting from the Bosphorus University, Istanbul, Turkey, in 1975. The Company would like to take this opportunity to thank Mr. Victor Redekop whoacted as interim C.F.O. prior to Mr. Tirmandi's appointment. Mr. Redekop willcontinue as a director of Bankers Petroleum Ltd. •James M. Hill as Vice President Exploration, Bankers Petroleum (US) Inc. - From 1977 to 1986, Mr. Hill worked with Chevron U.S.A., Inc., Western Region Exploration division were he held positions in the areas of source and reservoir evaluation and basin analysis in California and Alaska. In California his focus was on the Monterey Shale Formation where he conducted work on both onshore and offshore oil discoveries. Most recently, Mr. Hill was Vice President of Exploration and Development for Tartan Energy Inc. and prior to his appointment he was co-founder of CalGeo Resources, Inc., a geotechnical and production acquisition consultancy. Mr. Hill will oversee exploration and development for Bankers Petroleum (US)Inc., a wholly owned subsidiary of the Company, focusing on the application ofadvanced technologies in the exploration, stimulation and development of theCompany's 260,000 net leased acres in the Palo Duro Basin of west Texas, as well as the evaluationof additional unconventional gas targets in the United States andinternationally. Mr. Hill obtained both his Masters of Science in Geology andBachelor of Science from San Jose State University, in 1978 and 1973respectively. In connection with the foregoing appointments, the Company has granted anaggregate of 1,000,000 stock options under the Company's stock option plan. Thestock options have a five year term and are subject to vesting. About Bankers Petroleum Ltd. Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration andproduction company with significant exploration and development opportunities inthe Palo Duro Basin of west Texas and a 100% working interest in thePatos-Marinza oilfield in Albania. The Company commenced operations in the oiland gas sector in July 2004 and has raised approximately US$50 million sincethat time. On Behalf of the Board of Directors, "Richard Wadsworth" Richard Wadsworth, President For further information, please contact Investor Relations 604-685-2162Email: investorrelations@bankerspetroleum.com Certain information respecting the Company and the Company's propertiesconstitutes forward-looking information. Such forward-looking information,including but not limited to statements with respect to anticipated rates ofproduction, the estimated costs and timing of the Company's planned work programand reserves determination involve known and unknown risks, uncertainties andother factors which may cause the actual costs and results of the Company andits operations to be materially different from estimated costs or resultsexpressed or implied by such forward-looking statements. Such factors include,among others, risks related to international operations, general risksassociated with petroleum operations and risks associated with equipmentprocurement and equipment failure. Although the Company has attempted to takeinto account important factors that could cause actual costs or results todiffer materially, there may be other factors that cause costs of the Company'sprogram or results not to be as anticipated, estimated or intended. There can beno assurance that such statements will prove to be accurate as actual resultsand future events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking information. This information is provided by RNS The company news service from the London Stock Exchange