BNK Petroleum Inc. Announces Additional Acreage in Spain

Camarillo, California, November 7 (ots/PRNewswire) -

BNK Petroleum Inc. (the "Company") announced today that its
wholly owned subsidiary Trofagas Hidrocarburos, S.L., has been
awarded the Sedano oil and gas concession totalling approximately
86,000 acres located in the autonomous community of Castile and Leon,
Spain. This concession brings the Company's total acreage in Europe
to about 3.9 million net acres, in 5 separate basins.

Located in the Cantabrian basin of Spain and like the previous
Urraca concession, the Sedano concession targets principally shale
gas but also has some conventional oil and gas potential. The primary
target is a Jurassic-aged shale which, based on available
information, ranges in the most prospective areas from 100 to over
200 meters in gross thickness at depths of about 2,500 to 4,500
meters. The Jurassic shale is a Type II Kerogen with Total Organic
Carbon content ranging between 1.3 and 5.0%. The structure and
stratigraphy are defined by numerous existing 2D seismic lines and
dozens of wells previously drilled by other operators. Most of the
previously drilled wells had oil and/or gas shows in the shale
interval as well as in fractured carbonates both above and below the
shale. These fractured carbonates are the conventional targets.

Wolf Regener, BNK's President and CEO commented, "We are pleased
to have acquired another concession in what we believe is a basin
with excellent shale gas potential. Our plan is to develop Spanish
shale gas in an environmentally safe manner and create additional
regional employment opportunities. We are looking forward to working
with Spain's local, regional and federal governments to generate
growth, while ensuring a balanced environmental approach. Being at
the forefront of implementing the best available environmental
technologies and methods is an integral part of the Company's
business plan. In the coming months we plan to expand our current
open dialogue policy and communicate with all stakeholders to provide
information and address any questions that may arise. More
comprehensive information about how we safely explore, develop and
produce shale gas can be found on our website,
http://www.bnkpetroleum.com."

The concession terms include certain minimum requirements, which
must be fulfilled by BNK to retain its interest. The more significant
minimum requirements include the requirement to drill a well and
begin drilling a second well in the first year, drilling one further
well in the second year, and three wells in years three and four. All
the timelines are subject to being able to obtain permits in a timely
manner.

POLAND

In Poland a drilling rig has been contracted to begin drilling
the first well on the Company's Indiana concession blocks in the 1st
quarter 2012. Casing and wellheads have been ordered and lease
construction is expected to start in early January. The previously
announced 2D seismic program is progressing with approximately 17% of
the data already acquired. The program consists of about 407 km on
the Saponis concessions and 333 km on the Indiana concessions. The
objective of the seismic program is to further define basin structure
and burial history as well as to aid in the selection of individual
well locations.

The Company expects to release its 3rd quarter financials on
November 10, 2011.

Caution Regarding Forward-Looking Information

Certain statements contained in this news release constitute
"forward-looking information" as such term is used in applicable
Canadian securities laws, including information regarding the
Company's current plans and expectations regarding the timing of
commencement of drilling the first well on its Indiana concessions,
planned exploration programs, including seismic acquisition, minimum
commitments for the Sedona concession, and anticipated date of
release of third quarter financial results. Forward-looking
information is based on plans and estimates of management at the date
the information is provided and is subject to certain factors and
assumptions of management, including that no unforeseen delays,
unexpected geological or other effects, equipment failures,
permitting delays, labor or contract disputes are encountered as well
as that the Company's financial condition and the development plans
of the Company and its co-venturers will not change. Forward-looking
information is subject to a variety of risks and uncertainties and
other factors that could cause plans, estimates and actual results to
vary materially from those projected in such forward-looking
information. Factors that could cause the forward-looking information
in this news release to change or to be inaccurate include, but are
not limited to, the risk that occurrences such as those referred to
above may occur and result in delays, or cessation in planned work,
and that the Company's financial condition and the development plans
of the Company or the other participants in the planned exploration
programs will change as well as the other risks and uncertainties
applicable to exploration activities as set forth in the Company's
management discussion and analysis and its annual information form
both of which are available for viewing under the Company's profile
at http://www.sedar.com . The Company undertakes no obligation to
update these forward-looking statements, other than as required by
applicable law.

About BNK Petroleum Inc.

BNK Petroleum Inc. is an international oil and gas exploration
and production company focused on finding and exploiting large,
predominately unconventional oil and gas resource plays. Through
various affiliates and subsidiaries, the Company owns and operates
shale gas properties and concessions in the United States, Poland,
Spain and Germany. Additionally the Company is utilizing its
technical and operational expertise to identify and acquire
additional unconventional projects outside of North America. The
Company's shares are traded on the Toronto Stock Exchange under the
stock symbol BKX.

For further information:
Wolf E. Regener
+1-805-484-3613
Email: investorrelations@bnkpetroleum.com
Website: http://www.bnkpetroleum.com

ots Originaltext: BNK Petroleum Inc.
Im Internet recherchierbar: http://www.presseportal.de

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