Bankers Petroleum

Canada's Banker's Petroleum has announced the sale of oil exploration and production rights to affiliates of China's Geo-Jade Petroleum for a price of $442.34 million.

The Canadian company announced the news in a press release on Sunday, adding that the Chinese company is going to pay $1.69 per share. The board of directors of Bankers approved the deal unanimously.

Bankers Petroleum announced on Monday that the National Agency for the Management of Natural Resources in Albania had agreed with the idea of holding an independent evaluation of its investments as part of efforts to end the tax dispute.

Albanian authorities ordered the evacuation of an entire village in southern Albania after two uncontrolled leakages of natural gas occurred during drilling works for a new well owned by Bankers Petroleum, the main petroleum extraction company in Albania.