Canada's Bankers Petroleum Ltd (BNK.TO: Quote), engaged in the exploration and production of oil in Albania, posted quarterly profit that more than doubled helped by increased production and oil prices.
July-September earnings at the Calgary, Alberta-based company was C$4.3 million, or 1.7 Canadian cents a share, up from C$1.7 million, or 0.08 Canadian cents a share, last year.
Oil revenue jumped 80 percent to C$42.1 million.
Analysts on average had forecast earnings of 2 Canadian cents a share on revenue of C$45.8 million, according to Thomson Reuters I/B/E/S.
Average production grew to 9,826 barrels of oil per day (bopd), from 6,258 bopd, while the average price per barrel rose 14 percent to $46.61.
The company's shares, which have gained 7 percent in value since it reported second-quarter results in August, closed at C$7.28 on Wednesday on the Toronto Stock Exchange.