BRIEF-Bankers Petroleum resumes operations at Patos-Marinza oilfield

Wed Jun 8, 2016 5:07am EDT
 
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June 8 (Reuters) - Bankers Petroleum Ltd :

* Bankers Petroleum announces resumption of operations and corporate transaction update

* Production is being brought back online immediately and is expected to resume pre-closure production levels over next week

* Says resumed its usual operations following commencement of export activities at Petrolifera Italo Albanese

* Received final approval of court of Queen's bench of Alberta for arrangement with affiliates of Geo-Jade Petroleum Corporation

* Arrangement agreement with Geo-Jade amended to extend deadline to receive People's Republic of China approvals from June 1 to June 30

* Closing of arrangement is expected to occur in late June or early July

* Over past six days, curtailed production by about 4,000 barrels of oil per day within Patos-Marinza oilfield due to lack of storage Source text for Eikon: Further company coverage: