Bankers Petroleum (BNK:TSX), the Calgary-based heavy oil producer, is Albania’s largest foreign direct investor.  The video focuses on Albania’s oil history as well as Bankers’ massive Patos-Marinza oilfield.  That oilfield is the largest ever discovered in continental Europe.  The company drilled 146 wells into the Patos-Marinza field in 2013 and expects to drill over 175 in 2014.  The company has budgeted $313 million in 2014 for exploration, development and appraisal activities in Albania.

Another company that has discovered a potentially large new oilfield in Albania is Petromanas Energy (PMI:TSX).  With their 75% non-operated partner, Royal Dutch Shell, Petromanas successfully identified what they interpret to be an 800m oil column with their Spirag-2 well.  In initial testing of only 400m of the oil column, the well flow tested at 1,500-2,200boe/d.

The two are currently drilling their Molisht-1 prospect well which is located southeast of Spirag-2 and is targeting a depth of 5,500m.  The well should reach its target depth by the end of May.

Read: Bankers Petroleum Grows Production in the Fourth Quarter & Expects Minimal Impact from Fiscal Changes in Albania

Related: Petromanas Plans Appraisal Program at Recent Albanian Oil Discovery and Provides Update on Current Drilling

Disclaimer: Author is long Petromanas Energy, therefore the article is not to be considered unbiased and fully independent.  Due your own due diligence.