Bankers Petroleum Appoints Vice President, Production and Operations and Deputy General Director, Albania

CALGARY, Nov. 13, 2015 /CNW/ - Bankers Petroleum Ltd. ("Bankers" or the "Company") (TSX: BNK, AIM: BNK) is pleased to announce the appointment of Kristofer ("Kris") Gustafsson to the position of Vice President, Production and Operations and Deputy General Director of Bankers Petroleum Albania Ltd. ("Bankers Albania").

"Over the last several years, as the leader of our production and technology groups in Albania, Kris has played an instrumental role in our transition of operations resulting in over $8 dollars per barrel of cost savings," commented David French, President and Chief Executive Officer of Bankers Petroleum, "Kris has always been committed to innovative solutions to address complex and challenging issues. Our Board of Directors and Senior Management team is very pleased with Kris's appointment given his operational, business, and Albanian experience."

Mr. Gustafsson has a 15 year track record in both oil and gas development in Canada and Albania. Prior to being appointed as Vice President, Production and Operations, he held the role of Deputy General Director, Production and Operations at Bankers Albania and will continue to lead the in-country staff reporting to Mr. Leonidha Çobo, General Director, Albania and corporately to Mr. Suneel Gupta, Executive Vice President and Chief Operating Officer of Bankers Petroleum. 

Mr. Gustafsson joined Bankers in 2009 as a Lead Petroleum Engineer tasked with applying the latest production technology from Canada to the operations in Albania. Since joining the team, he has held several senior roles including Senior Technical Manager and Technical Director. Mr. Gustafsson began his career at Encana Corp. as a Production and Completions Engineer managing both light and heavy oil operations. Mr. Gustafsson graduated from the University of Calgary with a Bachelor of Science in Chemical Engineering.

About Bankers Petroleum Ltd.

Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and production company focused on developing large oil and gas reserves.  In Albania, Bankers operates and has the full rights to develop the Patos-Marinza heavy oilfield, has a 100% interest in the Kuçova oilfield, and a 100% interest in Exploration Block "F".  Bankers' shares are traded on the Toronto Stock Exchange and the AIM Market in London, England under the stock symbol BNK.

SOURCE Bankers Petroleum Ltd.