July 19, 2016

    AIM: BNK

    Bankers Petroleum Ltd. ("Bankers Petroleum" or the "Company")

    Employee Stock Savings Plan - July 15, 2016 Update

    Further to the Company's announcement of January 16, 2013 regarding the
    implementation of an Employee Stock Savings Plan ("ESSP"), Bankers Petroleum
    announces that during the period from July 1, 2016 to the period ending July
    15, 2016, the following purchases were made by senior employees:

        Name      Date of   Number of   Employer's  Purchase   Employer's  Resulting  Resulting
                  Purchase    Common   Contribution   Price   Contribution Number of   Holding 
                              Shares       (1)      (Cdn. $)   Vested(2)     Common     as at  
                            Purchased                                        Shares    15 July 
                                                                           held as at  2016 as 
                                                                            15 July    % total 
                                                                              2016     voting  
                                                                                       rights  
                                                                                               
    David         July 15     1,093        547        2.04        809       270,632     0.1%   
    French,                                                                                    
    President                                                                                  
    and Chief                                                                                  
    Executive                                                                                  
    Officer                                                                                    
                                                                                               
    Douglas C.    July 15      721         361        2.04        534      1,101,728    0.4%   
    Urch,                                                                                      
    Executive                                                                                  
    Vice                                                                                       
    President,                                                                                 
    Finance and                                                                                
    Chief                                                                                      
    Financial                                                                                  
    Officer                                                                                    
                                                                                               
    Suneel        July 15      722         361        2.04        535       605,924     0.2%   
    Gupta,                                                                                     
    Executive                                                                                  
    Vice                                                                                       
    President                                                                                  
    and Chief                                                                                  
    Operating                                                                                  
    Officer                                                                                    

     1. These shares are the matching shares purchased by the Company, which shall
        vest to the shareholder twelve months from the date of purchase, provided
        the shareholder is still an employee of the Company. As of January 1, 2016
        the Company's matching shares were reduced from 100% to 50% of the
        employees purchase amount.
     2. These shares are the matching shares purchased by the Company twelve months
        ago and are now vested to the shareholder.

    As previously announced, under the ESSP, employees may use up to 10% of their
    salary (matched equally by the Company) to purchase Bankers Petroleum shares on
    the Toronto Stock Exchange, on each pay period (midmonth and month-end). David
    French, Douglas Urch and Suneel Gupta elected to participate in the plan, with
    a participation level of 10% of each of their respective salaries.

    All further announcements regarding the senior employees' participation in the
    ?ESSP will be announced within 3 business days of their occurrence and
    accordingly the next announcement is expected on 4 August or sooner, if
    required.

    For further information, contact:

    Doug Urch
    Executive VP, Finance and Chief Financial Officer
    Ph: (403) 513-2691
    Email: investorrelations@bankerspetroleum.com
    Website: http://www.bankerspetroleum.com/

    AIM NOMAD:

    Canaccord Genuity Limited
    Henry Fitzgerald-O'Connor
    +44 0 207 523 8000

    AIM BROKER:

    FirstEnergy Capital LLP
    Hugh Sanderson / David van Erp
    +44 0 207 448 0200