Settlement of Lawsuit with BP Oil

Bankers Petroleum Announces Settlement of Lawsuit with BP Oil CALGARY, February 23, 2015 - Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) todayannounced that its subsidiary, Bankers Petroleum Albania Ltd. (BPAL), hasreached a full and final settlement with BP Oil International Limited (BPOI) inconnection with the September 2013 lawsuit initiated by BPOI against BPAL atthe High Court of Justice in London, England. The settlement is for a paymentby BPAL to BPOI of US$16.5 million inclusive of all costs and interest. Thelawsuit was brought in connection with the termination by BPAL in November 2012of a long term oil supply contract between BPAL and BPOI and initially soughtdamages of up to US$54.2 million for, among other things, the alleged wrongfultermination of such agreement. BPOI's claim had recently been revalued atUS$37.4 million to reflect movements in oil price since September 2013. As partof the settlement, neither party admitted to wrongful or illegal conduct, andboth parties' claims and counterclaims will be dismissed. 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. For further information, contact: David French President and Chief Executive Officer (403) 513-6930Doug Urch Executive VP, Finance and Chief Financial Officer (403) 513-2691Laura Bechtel Investor Relations Analyst (403) 513-3428 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