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UPDATE: Bankers Petroleum to Spend $215 Million for 2012 Capital Program; Shares Up 4%

Bankers Petroleum Ltd. (BNK.TO) started the session higher at $4.41 but has continued to rise, now up 4% at $4.50 from yesterday's $4.32 close, after announcing its 2012 capital program of US$215 million.

The company said the 2012 capital program will focus on major development activities at the Patos-Marinza oilfield to include production and reserves growth drilling, reactivation and workover of existing wells, associated field infrastructure and progression of the thermal program. The program will also include expansion of the waterflood program at the Kucova oilfield and exploration drilling on Block F acreage in Albania.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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