January 11, 2011 / 12:52 PM / 7 years ago

UPDATE 1-Bankers Petroleum Q4 production rises 50 percent

* Q4 production 10,838 bopd vs 7,230 bopd last year

* Sales rise 6 pct sequentially

Jan 11 (Reuters) - Canada’s Bankers Petroleum Ltd BNK.TO said fourth-quarter oil production rose nearly 50 percent and exceeded its 2010 target.

The Calgary, Alberta-based Canadian company reported average fourth-quarter production of 10,838 barrels of oil per day (bopd), compared with 7,230 bopd last year.

Sales from the Patos-Marinza oilfield in Albania rose 6 percent sequentially to 10,424 bopd in fourth quarter, the company said in a statement, with average price rising 14 percent to $53.13 a barrel.

December sales averaged 13,500 bopd, exceeding the exit target of 12,100 bopd set for 2010.

Shares of the company closed at C$8.28 on Monday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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