FAQs
Q: What is Bankers’ production?
A: Production averaged 8282 bopd in the first quarter of 2010, an increase of 41% over the same quarter of 2009 and an increase of 15% over the fourth quarter of 2009. Current production as of June 1st, 2010 is 10,000 + bopd. Bankers expects to exit 2012 producing 24,000 bopd.
Q: What is Bankers’ cash flow?
A: Funds generated from operations increased to $13.8 million in the first quarter of 2010 from $10.8 million over the previous quarter.
Q: What is Bankers’ debt?
A: Bankers exercising a plan of balanced capital spending primarily from cash flow and available cash. The Company maintains a strong balance sheet and held US$63 million with working capital of approximately US$66 million at March 31, 2010. No funds were drawn from the US$110 million credit facility from the European Bank for Reconstruction and Development and the International Finance Corporation. The Company has drawn $20 million of the Raiffeisen credit facility of US$31 million.
Q: Who are Bankers’ reserves engineers?
A: Annually, the Company obtains independent reservoir evaluations of its Albanian properties by RPS Energy Canada Ltd. (Patos Marinza oilfield) and by DeGolyer and MacNaughton Canada Ltd. (Kuçova oilfield).
Q. What is the extent of Bankers reserves?
A: For the year ended December 31, 2009, Bankers’ proved and probable reserves in Albania increased by 19% to 214 million barrels from 180 million barrels at December 31, 2008. The corresponding net present value (NPV) after tax (discounted at 10%) increased by 50% to $1.5 billion from $1 billion.
Q: How many shares does Bankers have outstanding and where do they trade?
A: Bankers trades under the symbol “BNK” on both the TSX (Canada) and AIM (London) exchanges. As of December 31, 2009 the Company had 231 million total shares and 251 million fully diluted shares.
Q: What is Bankers’ Albania position?
A: Bankers is focused on accessing the heavy oil upside from its Albanian assets. The Company operates in the Patos Marinza field pursuant to a 25-year license agreement that commenced in 2006, with the option to renew for additional five-year terms. This 70 km2 heavy oil field is the largest onshore oilfield in continental Europe with 5.7 billion barrels of original oil in place. In addition, Bankers has full rights to develop the Kucova oilfield in Albania, which has 297 million barrels of original-oil-in-place. Bankers also holds a 7 year exploration contract on Block F, a 185,000 acre block next to Patos Marinza.
Q: Why should someone consider investing in Bankers?
A: Bankers has a strong team with a track record of delivering superior results. The Company is in the process of realizing its plan to increase reserves and production in the Patos Marinza oilfield in Albania, explore undeveloped acreage to identify and create development opportunities; pursue new and proven technology applications to improve operations and assist exploration endeavours; spin-off of the US assets and operations and maintain a strong balance sheet by controlling debt and managing capital expenditures.
Bankers’ three-year strategic plan for Patos Marinza provides significant potential for growth in production and reserves through primary, secondary and tertiary extraction techniques. The 2010 strategic allocation of the work program and budget is flexible by having multiple capital spending scenarios that are oil price sensitive and is designed to provide additional recoverable reserves at the Patos Marinza and Kuçova oilfields and still achieve growth in production.

