An anonymous director reports

BANKERS PETROLEUM ANNOUNCES CLOSING OF PLAN OF ARRANGEMENT TRANSACTION

Bankers Petroleum Ltd. has closed its previously announced plan of arrangement with affiliates of Geo-Jade Petroleum Corp., effective today.

Pursuant to the arrangement, Geo-Jade has acquired all the issued and outstanding common shares of Bankers through its affiliates for a cash price of $2.20 per Bankers share. It is expected that the Bankers shares will be delisted from the Toronto Stock Exchange in approximately three to four business days. The Bankers shares will also be delisted from the Alternative Investment Market of the London Stock Exchange and this cancellation of the AIM Bankers shares is expected to occur at 8 a.m. BST on Sept. 30, 2016.

Bankers understands that beneficial shareholders, who hold their common shares through an intermediary such as a bank, broker or investment firm, should expect to receive payment approximately five to seven business days after closing.

Registered shareholders of Bankers, who have not already done so, should submit their certificates representing their Bankers shares along with a completed letter of transmittal to Alliance Trust Company in order to receive the consideration they are entitled to pursuant to the arrangement. Registered shareholders are those that hold a physical certificate representing their Bankers shares. Letters of transmittal were previously sent to registered shareholders of Bankers and additional copies may be obtained by contacting Alliance Trust Company at 1-877-537-6111 or by e-mailing inquiries@alliancetrust.ca. Shareholders who hold their shares in a brokerage account should contact their investment adviser in connection with submitting their Bankers shares for payment.

FirstEnergy Capital LLP acted as financial adviser to Bankers in connection with the arrangement. McCarthy Tetrault LLP acted as legal adviser to Bankers with respect to the arrangement.

Further details regarding the arrangement can be found in the management information circular dated April 19, 2016, prepared in connection with the arrangement and the addendum thereto, each filed on SEDAR.

In Albania, Bankers operates and has the full rights to develop the Patos-Marinza heavy oil field, has a 100-per-cent interest in the Kucova oil field and a 100-per-cent interest in exploration block F. In 2015, Bankers acquired an 85-per-cent interest in the rights to explore the Puspokladany block concession within the Pannonian basin located in northeastern Hungary.

We seek Safe Harbor.