Bankers Petroleum appoints Albania vice-president

Bankers Petroleum strengthened the management of its Adriatic operations on Friday, with the appointment of Kristofer Gustafsson to the role of vice-president, production and operations in Albania.

The Canadian oil exploration firm has full rights to develop the Patos-Marinza heavy oilfield, as well as 100% interests in the Kucova field and ‘exploration block F’ on the country’s coast.

Gustafsson has a 15 year background in oil and gas development in both Canada and Albania, the company said, and has been with Bankers since 2009.

Earlier this week, analysts at First Energy raised their target price on the stock – which is traded on both the TSX and AIM – from CAD4.00 to CAD5.00 (197p to 247p).

As of 14:03 on Friday, Bankers was trading at CAD2.04 (TSX) and 100p (AIM).