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CALGARY, Mar 3anadian oil and gas company Bankers Petroleum Ltd. said its 2009 proved reserves rose by a third from the previous year, sending its shares up nine per cent to a new year-high.
The 2009 reserves growth is primarily boosted by improved well performance and horizontal development drilling results, the company said in a statement.
The company, which is focused on developing large oil and gas reserves in Albania, said its proved reserves have increased by 34 per cent from Dec. 31, 2008, to 92.8 million barrels, after producing about 2.3 million barrels in 2009.
