Bankers Gears Up 2nd Rig in Albania

Albanian Concessions
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Bankers confirmed that on January 25, 2010 the Crosco drilling rig Skytop 3 (depth capacity 3,000 meters) commenced drilling its first of several horizontal wells planned for the Patos Marinza oil field in Albania. Well No. 5027 is located in the northern portion of the field, has a target depth of 2,285 meters with a lateral length of 525 meters in the D3 zone of the Lower Driza Formation. This is the first of three wells that will be drilled by the Crosco rig from the same pad before moving to a new location.

The existing drilling rig, Simmons No. 51 (depth capacity 2,500 meters), continues its drilling program and, with the next two wells, will target new formations as Bankers expands its horizontal drilling objectives. For the first time in the Patos Marinza oil field, horizontal wells will be drilled in the D2 Formation and in one of the multiple sands within the Marinza Formation. These drilling operations will commence on January 26, 2010.

With the addition of this second drilling rig, Bankers expects to drill 52 horizontal wells in 2010.

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