Canadian Warrants

As a result of the consolidation, the exercise price of the November, 2009, warrants has been adjusted so that each November, 2009, warrant will entitle the holder to purchase one common share at price of $2.49 per share. The expiry date of the November, 2009, warrants remains at 5 p.m. (Calgary time) on Nov. 10, 2009. In addition, the exercise price of the March, 2012, warrants has been adjusted so that each March, 2012, warrant will entitle the holder to purchase one common share at $2.37 per share. The expiry date of the March, 2012, warrants remains at 4:30 p.m. (Calgary time) on March 1, 2012.
Postconsolidation, the approximate share capital of the company will be as follows:

Common shares: 182,501,262
November, 2009, warrants: 3,573,041
March, 2012, warrants: 4,911,475
Unlisted warrants: 1,226,667
Options: 8,587,186
Fully diluted: 200,839,631

No fractional common shares will be issued as a result of consolidation. In the event that a holder would otherwise be entitled to a fractional share, the number of shares issued to such shareholder shall be rounded up to the next greater whole number of shares, if the fractional entitlement is equal to or greater than 0.5, and shall, without any additional compensation, be rounded down to the next lesser whole number of shares, if the fractional entitlement is less than 0.5. In calculating such fractional interests, all shares registered in the name of or beneficially held by such shareholder or a nominee shall be totalled.

No fractional warrants will be issued as a result of consolidation. In the event that a holder would otherwise be entitled to a fractional warrant, the number of warrants issued to such warrantholder shall be rounded up to the next greater whole number of warrants, if the fractional entitlement is equal to or greater than 0.5, and shall, without any additional compensation, be rounded down to the next lesser whole number of warrants, if the fractional entitlement is less than 0.5. In calculating such fractional interests, all warrants registered in the name of or beneficially held by such warrantholder or a nominee shall be totalled.

In respect of the consolidation, letters of transmittal were mailed to holders of common shares, along with the company's information circular and proxy statement dated May 27, 2008. The letters of transmittal request holders of common shares and warrants to forward their preconsolidated common share and warrant certificates to Computershare Investor Services Inc. in exchange for new common share and warrant certificates representing the appropriate number of postconsolidated common shares and warrants.

The November, 2009, warrants are governed by the terms of an indenture dated Nov. 10, 2004, as amended by a supplemental indenture dated Sept. 1, 2006, between the company and Computershare Trust Company of Canada, as trustee. The March, 2012, warrants are governed by the terms of an indenture dated March 1, 2007, between the company and Computershare Trust Company of Canada as trustee.
 
Bankers Petroleum completes U.S. spin-out
 
2008-07-15 06:18 MT - News Release
Bankers Petroleum Ltd. is providing the following update in respect of its plan of arrangement pursuant to which all of Bankers United States operations and assets have been spun out into BNK Petroleum Inc.

The date and time for determining which Bankers shareholders are to receive BNK-U.S. shares was Monday, July 14, 2008, at 4:30 p.m. (Calgary time). Certificates representing BNK-U.S. shares are expected to be sent to registered holders on or about Thursday, July 17, 2008. Pursuant to the arrangement, Bankers shareholders as of the record time received one BNK-U.S. share for each 10 Bankers shares.

At the record time, the final adjustment price was determined for Bankers' listed common share purchase warrants. The purchase warrants listed under the symbol BNK.WT will have their exercise price adjusted from 95 cents to 83 cents per Bankers share. The purchase warrants listed under the symbol BNK.WT.A will have their exercise price adjusted from 90 cents to 79 cents per Bankers share.

Within the next 10 days, Bankers intends to complete the consolidation of the Bankers shares on the basis of one new postconsolidation Bankers share for each three preconsolidation Bankers shares, subject to regulatory approval. Upon completion, the consolidation will result in the number of Bankers shares into which the purchase warrants may be exercised for to be divided by three and the exercise prices of such purchase warrants will be tripled. The resulting adjustments to the exercise prices of the purchase warrants are expected to be as follows:

- The purchase warrants listed under the symbol BNK.WT will have their exercise price adjusted from 83 cents to $2.49 per Bankers share;
- The purchase warrants listed under the symbol BNK.WT.A will have their exercise price adjusted from 79 cents to $2.37 per Bankers share.

Bankers unlisted common share purchase warrants and stock options will be adjusted in accordance with the same formula applied to the purchase warrants. Specific details and timing in connection with the consolidation will be released shortly in a further press release.

Bankers to list 15,714,286 warrants on March 1

2007-02-27 19:58 ET - Warrants Called to Trade
TSX bulletin 2007-0272
A total of 15,714,286 common share purchase warrants of Bankers Petroleum Ltd.
will be listed and posted for trading at the open on Thursday, March 1, 2007, under
the following trading information:

Warrant symbol:  BNK.WT.A
Warrant Cusip No.:  066286 12 1
Designated market-maker:  Orion Securities Inc.
Other markets:  None

The listing covers warrants forming part 31,428,572 units sold to the public at a
price of 70 cents per unit pursuant to the terms of a prospectus dated Feb. 22, 2007.
Each unit consists of one common share and one-half of a warrant. The units will
separate immediately upon closing of the public offering.
Each warrant entitles the holder to purchase one common share of the company at
a price of 90 cents per share at any time prior to 4:30 p.m. (Calgary time) on March 1,
2012.

The warrants are governed by the terms of a warrant indenture to be dated March 1,
2007, between the company and Computershare Trust Co. of Canada as trustee.
The warrant indenture provides for appropriate adjustments to the warrants in the
event of stock dividends, subdivisions, consolidations and other forms of capital
reorganization..

Bankers Petroleum to list on TSX on Sept. 21

2005-09-19 19:52 ET - New Listing
TSX bulletin 2005-1078
An application has been granted for the original listing in the oil and gas category of
385,083,820 common shares of Bankers Petroleum Ltd., of which 326,496,283 are
issued and outstanding, and 58,587,537 are reserved for issuance.

An application has also been granted for the listing of 16,121,273 common share
purchase warrants, of which 15,728,955 are issued and outstanding, and 392,318
are reserved for issuance.

Each warrant entitles the holder to purchase one common share at a price of 95
cents per share at any time prior to 4 p.m. (Vancouver time) on Nov. 10, 2009.

The common shares and the warrants of the company will be listed and posted for
trading at the open on Wednesday, Sept. 21, 2005.

The company is subject to the reporting requirements of Section 501 of the Toronto
Stock Exchange company manual.

Common share symbol:  BNK
Common share Cusip No.:  066286 10 5
Trading currency:  Canadian dollars
Warrant symbol:  BNK.WT
Warrant Cusip No.:  066286 11 3
Trading currency:  Canadian dollars
Designated market-maker:  To be determined

Other markets:  The common shares of the company have been listed for trading on
the TSX Venture Exchange since Aug. 12, 2003, and on the AIM (Alternative
Investment Market) market of the London Stock Exchange since July 7, 2005. The
warrants of the company have been listed for trading on the TSX-V since March 11,
2005, and on the AIM market of the London Stock Exchange since July 7, 2005. The
common shares and warrants will be delisted from TSX-V on Sept. 21, 2005.

Incorporation:  The company was incorporated as Errington Gold Exploration Ltd.
under the Business Corporations Act (Ontario) on Aug. 11, 1983. After several
consecutive name changes, the company continued under the Business
Corporations Act (British Columbia) on June 25, 2004, and changed its name to
Bankers Petroleum Ltd.

Fiscal year-end:  Dec. 31

Nature of business:  The company is in the business of the acquisition, exploration
and development of oil and gas properties.

Transfer agent and registrar:  Pacific Corporate Services Ltd. at its principal offices
in Toronto and Vancouver

Dividends:  The company has not paid any dividends or made any distributions from
Jan. 1, 2000, to the present. The company does not anticipate paying dividends in
the foreseeable future.
 
Bankers Petroleum purchase warrants to trade March 11

2005-03-10 16:26 ET - Warrants Called to Trade
Effective at the opening on March 11, 2005, the 16,396,273 share purchase warrants
of Bankers Petroleum Ltd. will commence trading on the TSX Venture Exchange.
The company is classified as an "oil and gas exploration and development"
company.
Corporate jurisdiction:  British Columbia
Capitalization:  16,396,273 warrants with no par value of which 16,396,273 warrants
are issued and outstanding
Transfer agent:  Pacific Corporate Trust Co.
Trading symbol:  BNK.WT
Cusip No.:  066286 11 3
The warrants were issued pursuant to a private placement of 30,936,364 units at a
price of 55 cents per unit. Each unit consists of one common share and one-half of
one share purchase warrant. Each whole warrant entitles the holder to purchase
one common share at a price of 95 cents per share and will expire on Nov. 10, 2009.