Preheat oven to 350°F. Line muffin pan with paper or silicon liners.

Sift flour, baking soda, baking powder, salt and sugar into a large mixing bowl.

In a small mixing bowl, combine oil, milk, both the extracts and mashed banana.

Add wet ingredients to dry ingredients and combine until well mixed.

Finally add the chocolate chips and mix well.

Pour the batter into the muffin pan about ¾ of the way full. Reduce the oven temperature to 325°F and bake for 24-26 minutes or until a cake tester inserted in the middle of the cupcake comes out clean.

Let cool in the pan for 5 minutes before removing the cupcakes onto the wire rack to cool completely.