Bankers Petroleum Ltd. - Block Admission Return

2 Oct 2008 07:00

Bankers Petroleum Ltd. - Block Admission Return

CALGARY, Oct. 1 /CNW/ - Block Admission Return ----------------------

The Company (AIM: BNK) makes the following announcement with respect to the issuance of common shares, options and warrants for the period February 11, 2008 to August 31, 2008. On July 30, 2008, the Company completed a one (1) for three (3) share consolidation (the "Consolidation"), and, accordingly, all amounts referenced below (other than the February 11, 2008 balance forward amounts) reflect the post-consolidation positions.

COMMON SHARES ISSUED & OUTSTANDING: ------------------------------------------------------------------------- Shares Shares Outstanding Options Warrants Outstanding February 11, 2008 Exercised Exercised August 31, 2008 ------------------------------------------------------------------------- 519,276,158 = 18,435,537 = 9,905,514 = 182,539,070 173,092,053 6,145,179 3,301,838 post consolidated post consolidated post consolidated ------------------------------------------------------------------------- ------------------------------------------------------------------------- OPTIONS OUTSTANDING: ------------------------------------------------------------------------- Stock Stock Options Stock Stock Stock Exercise Options Outstanding Options Options Options Price $/ Outstanding February 11, Exercised Granted Cancelled share(1) August 31, 2008 2008 ------------------------------------------------------------------------- 41,430,000 = 1,490,258 0.57 13,810,000 post consolidated ------------------------------------------------------------------------- 200,000 1.32 ------------------------------------------------------------------------- 287,365 1.35 ------------------------------------------------------------------------- 58,333 1.44 ------------------------------------------------------------------------- 44,444 1.47 ------------------------------------------------------------------------- 7,000 1.60 ------------------------------------------------------------------------- 488,889 1.53 ------------------------------------------------------------------------- 620,664 1.68 ------------------------------------------------------------------------- 480,118 1.73 ------------------------------------------------------------------------- 50,000 1.81 ------------------------------------------------------------------------- 329,167 1.98 ------------------------------------------------------------------------- 322,000 2.10 ------------------------------------------------------------------------- 116,775 2.37 ------------------------------------------------------------------------- 21,111 2.52 ------------------------------------------------------------------------- 490,486 3.03 ------------------------------------------------------------------------- 166,667 3.51 ------------------------------------------------------------------------- 250,000 3.66 ------------------------------------------------------------------------- 173,624 4.09 ------------------------------------------------------------------------- 5,000 4.35 ------------------------------------------------------------------------- 10,000 4.41 ------------------------------------------------------------------------- 141,611 5.04 ------------------------------------------------------------------------- 87,500 5.91 ------------------------------------------------------------------------- 304,167 6.30 ------------------------------------------------------------------------- 1,833,333 4.35 ------------------------------------------------------------------------- 75,000 4.44 ------------------------------------------------------------------------- 300,000 4.74 ------------------------------------------------------------------------- 100,000 3.60 ------------------------------------------------------------------------- 587,000 ------------------------------------------------------------------------- Totals (post consolidation) ------------------------------------------------------------------------- 13,810,000 6,145,179 2,308,333 587,000 9,386,154 ------------------------------------------------------------------------- (1) The prices noted reflect the post-consolidated price WARRANTS OUTSTANDING: ------------------------------------------------------------------------- Warrants Warrants Outstanding Warrants Warrants Warrants Outstanding February 11, 2008 Exercised Granted Cancelled August 31, 2008 ------------------------------------------------------------------------- 38,323,452 = 12,774,484 post consolidation 3,301,838 240,729 Nil 9,713,375 ------------------------------------------------------------------------- -------------------------------------------------------------------------

The issued share capital of the Company is 182,539,070 as at August 31, 2008. During the period the Company issued 2,308,333 stock options and 240,729 warrants.

Bankers has applied for the underlying shares for options and warrants from this return of 2,549,062 to be admitted to the AIM as part of the AIM Block Admission. Total current fully diluted capitalization of the Company is 182,539,070 common shares, 9,386,154 options and 9,713,375 warrants.

As a consequence of the Consolidation, the Company has to reapply for its full block listing entitlement and accordingly an application has been made to AIM for a block listing of 19,099,529 common shares (being 9,386,154 stock options and 9,713,375 options).

These shares, ranking pari passu in all respects with the existing shares in issue, will be allotted pursuant to the exercise of options and to the rules of the Stock Option Plan and the 2009, 2010 and 2012 warrant issuances.

Included in the block listing for the period February 11, 2008 to August 31 is the exercise of 37,808 warrants which occurred on 28 August 2008. The resultant common shares have not yet been admitted to trading on AIM and consequentially a separate application for 37,808 has today been filed. The 37,808 common shares are expected to admit to trading on AIM on 7 October 2008. The 37,808 common shares described above are included in the current issued share capital of the Company of 182,539,070.

This press release is being issued in compliance with the rules of the AIM market of the London Stock Exchange.

For further information: Douglas Urch, Vice President Finance and Chief Financial Officer, Phone (403) 513-2691, Fax (403) 228-9506, Email: investorrelations(at)bankerspetroleum.com, Website: www.bankerspetroleum.com; AIM NOMAD: Canaccord Adams Limited, Ryan Gaffney, Henry Fitzgerald-O'Connor, +44 20 7050 6500; AIM JOINT BROKERS: Canaccord Adams Limited, Ryan Gaffney, Henry Fitzgerald-O'Connor, +44 20 7050 6500; Tristone Capital Ltd., Nick Morgan, +44 20 7355 5800 (BNK)