Bankers Petroleum Ltd. provides the results of its December 31, 2010 independent reserves evaluation and reports the sixth consecutive year of reserves additions since Company inception in 2004.

Evaluations were conducted by RPS Energy Canada Ltd. ('RPS') for the Patos-Marinza oilfield, Albania and by DeGolyer and McNaughton Canada Ltd. ('D&M') for the Kuçova oilfield, Albania.

Total Albania Reserves Summary • Proved reserves ('1P') of 120 million barrels (30% increase from December 31, 2009) representing over eleven times production replacement • Proved plus probable reserves ('2P') of 238 million barrels (11% increase from December 31, 2009) • Proved, probable and possible reserves ('3P') of 427 million barrels (1% increase from December 31, 2009) • Mean original oil in place resource estimate ('OOIP') of 7.8 billion barrels (30% increase from December 31, 2009) • 2010 production was approximately 3.5 million barrels

Patos-Marinza Field • 1P reserves increased 30% to 117 million barrels of oil from 90 million barrels at December 31, 2009 • 2P reserves increased 11% to 226 million barrels (December 31, 2009 - 203 million barrels) • 3P reserves increased 1% to 395 million barrels (December 31, 2009 - 390 million barrels) • Original oil in place estimate (P50) increased 32% to 7.5 billion barrels (December 31, 2009 - 5.7 billion barrels) • All of Patos-Marinza's 2010 recoverable reserves estimates are from primary recovery methods only

The 2010 reserves growth is primarily attributable to the expansion of the Company's horizontal drilling program in new areas of the field and new zones within the field area. This is reflected in the upgrade of 2P and 3P reserves into 1P and 2P reserves category, respectively, and the expansion of 3P reserves and oil in place.

Patos-Marinza Contingent and Prospective Resources RPS has also updated the Contingent and Prospective Resource oil estimates for the Patos-Marinza oilfield as at December 31, 2010. Contingent and Prospective resources are based on thermal development technologies to be applied to the Gorani and Driza formations and secondary water flood methods proposed for the Marinza formation and expansion of the development areas, primarily to the west of the current development.

The thermal pilot first steam injection is scheduled for the third quarter of 2011. There are no current water flood plans for the field.

Contingent resource for 2010 is 1.2 billion barrels, compared to 838 million barrels in 2009 Prospective resource for 2010 is 568 million barrels, compared to 384 million barrels in 2009

Tags: Bankers Petroleum Ltd.