Bankers Petroleum Announces 2011 Second Quarter Financial and Operational Results

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[{"type":"text","content":"\n\n\n\n\n\nRecord Quarter of Production and Financial Results\n\n\nCALGARY, Aug. 11, 2011 /CNW/ - Bankers Petroleum Ltd. (\"Bankers\" or the\n \"Company\") (TSX: BNK) (AIM: BNK) is pleased to provide its 2011 second\n quarter financial and operational results.  The complete reporting\n package, consisting of Management's Discussion and Analysis along with\n Financial Statements and Notes, is posted on the Company's website www.bankerspetroleum.com and SEDAR: www.sedar.com.\n\n\n\n\n\nResults at a Glance (US$000, except as noted)(1)\n\nThree months endedJune 30\n\n\nSix months endedJune 30\n\n\n \n\n\n2011\n\n\n2010\n\n\nChange\n\n\n2011\n\n\n2010\n\n\nChange\n\n\nOil revenue\n\n\n85,184\n\n\n42,147\n\n\n102%\n\n\n157,920\n\n\n77,296\n\n\n104%\n\n\nNet operating income\n\n\n47,244\n\n\n20,353\n\n\n132%\n\n\n87,078\n\n\n35,992\n\n\n142%\n\n\nNet income\n\n\n10,800\n\n\n3,300\n\n\n227%\n\n\n22,019\n\n\n2,937\n\n\n650%\n\n\n \n\n\nPer share\n\n\n- basic ($)\n\n\n0.044\n\n\n0.014\n\n\n214%\n\n\n0.089\n\n\n0.013\n\n\n585%\n\n\n\n\n\n\n\n\n \n\n\n- diluted ($)\n\n\n0.042\n\n\n0.014\n\n\n200%\n\n\n0.086\n\n\n0.012\n\n\n617%\n\n\nFunds generated from operations\n\n\n42,913\n\n\n17,941\n\n\n139%\n\n\n73,172\n\n\n31,755\n\n\n130%\n\n\n \n\n\nPer share - basic ($)\n\n\n0.174\n\n\n0.078\n\n\n123%\n\n\n0.296\n\n\n0.138\n\n\n114%\n\n\nCapital expenditures\n\n\n69,388\n\n\n28,724\n\n\n142%\n\n\n121,318\n\n\n54,894\n\n\n121%\n\n\nAverage production (bopd)\n\n\n12,152\n\n\n9,830\n\n\n24%\n\n\n12,024\n\n\n9,060\n\n\n33%\n\n\nAverage price ($/barrel)\n\n\n77.03\n\n\n47.12\n\n\n63%\n\n\n72.56\n\n\n47.14\n\n\n54%\n\n\nNetback ($/barrel)\n\n\n42.72\n\n\n22.76\n\n\n88%\n\n\n40.02\n\n\n21.95\n\n\n82%\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nJune 30 2011\n\n\nJune 30 2010\n\n\nChange\n\n\n \n\n\nDecember 31 2010\n\n\nChange\n\n\nCash and deposits\n\n\n81,429\n\n\n57,418\n\n\n42%\n\n\n \n\n\n108,119\n\n\n(25%)\n\n\nWorking capital\n\n\n98,222\n\n\n59,417\n\n\n65%\n\n\n \n\n\n130,920\n\n\n(25%)\n\n\nTotal assets\n\n\n565,340\n\n\n337,007\n\n\n68%\n\n\n \n\n\n465,598\n\n\n21%\n\n\nLong-term bank loans\n\n\n31,630\n\n\n22,691\n\n\n39%\n\n\n \n\n\n21,815\n\n\n45%\n\n\nShareholders' equity\n\n\n389,959\n\n\n232,737\n\n\n68%\n\n\n \n\n\n346,267\n\n\n13%\n\n\n\n\n\n(1)\n\...

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