BNK Petroleum Inc. Provides Drilling Updates

Camarillo, California (ots/PRNewswire) -

BNK Petroleum Inc. (the "Company") announced today that the
Gapowo B-1 well, on the Bytow Concession in Poland held by its 100%
owned subsidiary, Indiana Investments Sp. z o.o. ("Indiana"), has
been drilled to a depth of approximately 4,300 meters. Two separate
concession modifications were applied for and approved to deepen and
allow the Silurian, Ordovician and Cambrian Alum shales to be
accessed in both the Gapowo B-1 and the Miszewo T-1 wells.

During the drilling and coring of the Gapowo B-1 well, over
pressured shales were encountered in the Lower Silurian and
Ordovician. Substantially higher gas readings were regularly recorded
in the target intervals than those in the previously drilled wells on
the Company's Saponis concessions. The average total gas readings
were over 20 times higher and maximum total gas readings were over 45
times higher than those seen in the Lebork S-1 well. These higher gas
shows occurred despite the significantly higher-weight drilling muds
used in the Gapowo B-1 well and the related slower rates of
penetration. The Company is in the process of obtaining approval to
re-enter and drill a horizontal well from this wellbore as early as
possible.

The geologic data gathered to date validates the Company's
previously disclosed geologic model. At the Gapowo B-1 location, the
Ordovician shale increased to 45 gross meters from the 27 gross
meters in the Lebork S-1 well. In addition, based on the data
received to date, the Company believes that the most prospective
shale intervals in the Lower Silurian are between 40 to 75 gross
meters thick, out of 120 meters of Lower Silurian that had
significant gas shows. This is in contrast to the Lebork S-1 well
where within the Lower Silurian, the Company only considers a few
meters to be prospective. The Lower Silurian, in the Gapowo B-1
location, also appears to have higher total organic carbon ("TOC")
than that encountered in the Company's previously drilled wells. The
higher estimated TOC is based on the very strong gas shows, mud log
descriptions and core gamma visual core inspection. The shales in
both the Silurian and the Ordovician are described by the mud loggers
as visually dark black, friable shale and occur over the same
intervals that generated the large gas readings. These are better and
darker descriptions than in any of the other wells that BNK has
drilled in the Baltic Basin.

After reaching its TD, difficulty was encountered in obtaining
wireline logs over the potential interval due to over pressured,
heaving shales within the target intervals, causing large borehole
washouts. As a result of these large borehole washouts, logging while
drilling tools (LWD) were substituted and the data capture was
reduced. These washed out intervals are the same shales that are
described by the mud logger as being dark black and also correspond
to the intervals that gave the very large gas readings. Fortunately,
177 meters of whole core were obtained over the Lower Silurian,
Ordovician and Cambrian intervals which will provide additional
necessary data moving forward. Processing is underway on the whole
core, which will undergo the comprehensive suite of core analyses.

The Gapowo B-1 well is currently suspended awaiting the re-entry
and the drilling rig is currently in the process of mobilizing to the
Miszewo T-1 well. Deepening operations to access the target intervals
in the Miszewo T-1 well are anticipated to begin in about 2 weeks.
The Company has scheduled to re-enter and complete the Gapowo B-1
well after receipt of the full concession modification approval that
allows the drilling of horizontal wells.

Oklahoma

The Company-operated horizontal Barnes 6-2H well in Oklahoma,
targeting the Lower Caney and Upper Sycamore (Mississippian Lime
equivalent) formations, is currently drilling the horizontal portion
of the lateral. Good oil and gas shows have been encountered and the
Company is anticipating testing the well in September, after fracture
stimulating. This test is based on the results of the vertical
Caney/Upper Sycamore test previously announced which has continued to
produce 100% oil.

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 in regard to the Gapowo B-1
well including its expectations regarding prospective shales, the
Miszewo T-1 well, the Lebork S-1 well and the Caney well, including
as to timing of fracture stimulation and other well operations,
expected outcomes of exploration programs on its Indiana concessions
and the Saponis concessions in which it has an indirect interest, and
expected timing of completion and results of data processing.
Forward-looking information is based on plans and estimates of
management and interpretations of early exploration information by
the Company's exploration team at the date the information is
provided and is subject to several factors and assumptions of
management, including that the indications of early results are
reasonably accurate predictors of the prospectiveness of the shale
intervals, that required regulatory approvals will be available when
required and on terms that are acceptable to the Company, that no
unforeseen delays, unexpected geological or other effects, equipment
failures, permitting delays, labor or contract disputes are
encountered, that the Company's financial condition and the
development plans of the Company and its co-venturers will not
change, that the demand for oil and gas will be sustained, that the
Company will continue to be able to access sufficient capital through
financings, farm-ins or other participation arrangements to maintain
its projects, and that global economic conditions will not
deteriorate in a manner that has an adverse impact the Company's
business, its ability to advance its business strategy and the
industry as a whole. 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
any of the assumptions on which such forward looking information is
based vary or prove to be invalid, including that the Company or its
subsidiaries is not able for any reason to obtain and provide the
information necessary to secure required approvals, that occurrences
such as those that are assumed will not occur, do in fact occur, and
those conditions that are assumed will continue or improve, do not
continue or improve, any of which could result in delays, cessation
in planned work or loss of one or more concessions and have an
adverse effect on the Company and its financial condition. These
risks as well as the other risks and uncertainties applicable to
exploration activities and the Company's business 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 athttp://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.
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