Bankers Petroleum Ltd is officially sold to Geo Jade Petroleum Corporation. The biggest foreign investor in Albania sold all its shares for C$2.20 to the Geo-Jade company. The selling agreement between Bankers and Geo-Jade was approved by 97% of the shareholders after a voting process, which was held on June 1st.
Bankers Petroleum sold its shares for a total amount of C$575 million ($442.34 million) to Geo-Jade Petroleum Corp. The Canadian company is the largest foreign investor in Albania since in 2004 when it first started operations for the extracting of oil and gas reserves in the Patos-Marinze onshore oil field.
News source/photo credits: ATA