Bankers Petroleum Achieves Record Production,
Revenue, Funds From Operations And Net Income

Aug 13, 2008

CALGARY, August 13, 2008 - Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) is pleased to announce record production, revenue and funds from operations during the three months ended June 30, 2008.

* Average production was 6,131 boepd, 5,826 bopd from Albania and 305 boepd from its U.S. operations, representing a 12% increase from 5,452 boepd for the first quarter of 2008, and 42% higher than the 4,314 boepd for the second quarter of 2007.

* Higher production and increased commodity prices resulted in revenue of $36.4 million for the quarter, up 39% as compared to $26.2 million in the preceding quarter and up 182% from $12.9 million for the same period in 2007.

* Funds from operations increased to $17.9 million from $10.1 million and $4.8 million for the three months ended March 31, 2008 and the corresponding period in 2007, respectively.

ALBANIA

In Albania, the average oil price was $64.36 per barrel during the second quarter of 2008 compared to $51.96 per barrel for the previous quarter and $32.89 for the same period in 2007, increases of 24% and 96% respectively.

Bankers commenced drilling operations in the Patos Marinza oil field with the spudding of its first vertical infill well in June, 2008, the first of numerous undrilled spacing units in the field that the Company interprets as being undrained areas. Two additional wells have been drilled and cased. Initial results confirm the Company's drainage model and support its plan to drill 110 vertical horizontal wells within the field over the next three years.

Bankers acquired the remaining 50% working interest in the Kucova oil field in Albania, increasing total holdings in the field to 100%. The Company expects that an independent reserves evaluation to define the remaining reserves and production potential of the Kucova oil field will be completed by the end of August, 2008. Bankers will be focused on creating a plan of development for this field, incorporating many of the extraction techniques utilized in the Patos Marinza field.

Bankers has signed an agreement with the developers of the Port of Vlore oil export terminal for the storage and handling of its oil in a 13,000 cubic metre Company-dedicated oil tank. This storage facility will improve the Company's export operations and allow for larger oil liftings when the terminal is ready to receive larger vessels next year.

US OPERATIONS

The Second Quarter 2008 Financial Statements and Management's Discussion and Analysis thereon fully consolidate the activities and results of Bankers' U.S. operations. On July 2, 2008, Bankers completed its plan of arrangement wherein all of the U.S. operations and assets were split into a new independent company, BNK Petroleum Inc. ("BKX"). BKX commenced trading on the Toronto Stock Exchange on July 10, 2008 (symbol: BKX) and all future activities related to BKX will be reported separately.

MANAGEMENT CHANGES

Richard Wadsworth, President and Chief Operating Officer, and Susan Soprovich, Vice President, Investor Relations and Corporate Governance, have left the Company to pursue other opportunities, effective August 15, 2008. Bob Cross, Chairman of Bankers commented, "on behalf of the Company, we would like to recognize the efforts and contribution made by both Richard and Susan and to wish them good luck in their future endeavours".

Abdel F. (Abby) Badwi has been named President and Chief Executive Officer.

OUTLOOK

"I am pleased to report that the first half of this year achieved all the major components necessary to implement the Company's strategic objectives" said Abby Badwi, President and CEO of Bankers, "We completed the divestiture of the U.S. operations so we can maintain focus on exploration and production activities in Albania. Early results of the three-year strategic plan for the Patos Marinza oil field have already provided significant growth in production and reserves. The acquisition of the Kucova oil field provides additional opportunities for expansion. We have a strong balance sheet and our capital program is designed to be fully funded from cash flow and available working capital. Our whole team is now focused on execution of our growth plans in Albania".

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 both the Patos-Marinza and the Kucova heavy oil fields. Bankers' shares are traded on the Toronto Stock Exchange and the AIM Market in London, England under the stock symbol BNK.

Bankers Petroleum Ltd.