Bankers Petroleum Announces $100 Million Bought-Deal Financing

Bankers Petroleum Ltd. (TSX:BNK)(AIM:BNK) announced it has entered into an agreement with Raymond James Ltd., on behalf of a syndicate of underwriters co-led by Raymond James Ltd. and GMP Securities L.P., under which the members of the Syndicate have agreed to purchase, on a bought deal basis, 12,903,228 common shares of the Company at Cdn$7.75 per Common Share to raise gross proceeds of Cdn$100,000,017.

The press release is quoted as saying:

Closing of the Offering, which is subject to customary conditions and regulatory approvals, including approval of the Toronto Stock Exchange, is expected to occur on or about July 14, 2010.

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