BNK Petroleum Inc. - Caney and Polish Update

Camarillo, California (ots/PRNewswire) -

BNK Petroleum Inc. (the "Company" or "BNK") , is providing an
update on its Tishomingo Field, Caney oil shale operations in
Oklahoma as well as its Polish shale gas project.

Oklahoma - Tishomingo Field

The Company's fifth Caney well, the Barnes 7-2H, was successfully
fracture stimulated in 85 percent of the lateral and, while early in
the flowback phase, has averaged approximately 520 barrels a day of
oil and 230 barrels of oil equivalent per day (BOEPD) of natural gas
and natural gas liquids (NGL's) over the last four days. Despite its
shorter completed lateral section, the Barnes 7-2H well has an oil
rate comparable to the initial oil rate of the Company's previous
well, the Hartgraves 5-3H well. The Barnes 7-2H well is the first
well drilled in what the Company believes is a more prolific and
thicker oil rich subinterval of the Caney.

The entire 5,039 foot lateral was not fracture stimulated due to a
perforation tool getting temporarily stuck in the well after the
successful stimulation of 27 stages. The removal of the perforation
tool delayed the unrestricted flowback of the well. The Company plans
on finishing the stimulation of the last 5 stages following the
Wiggins 12-8H stimulation.

Wolf Regener, President and Chief Executive Officer, commented,
"We are very pleased with the production results from this well. Our
technical team targeted what they believed was a more oil prolific
portion of the reservoir and the early flow data has validated that.
In the Barnes 7-2H well, approximately 70% of the production is oil
versus about 50 percent in our previous Caney wells. These strong oil
rates are particularly encouraging considering the shorter lateral
and the delays we had in getting this well into production due to the
stuck tool."

The Company also successfully finished drilling the Wiggins 12-8H
well and plans to begin fracture stimulation of that well in the
third week of December. The Wiggins 12-8H well has about 4,100 feet
of lateral in the Caney that is planned to be fracture stimulated.

The drilling rig has since been mobilized to the next location and
has already begun drilling the Company's next Caney well, the Leila
31-2H well which is expected to take about 30 days.

The Company has approximately 100% working interest in both the
Wiggins 12-8H and the Leila 31-2H wells. As a result of the Company's
recent operations, the Company's net acreage in the Caney and Upper
Sycamore formations in the Tishomingo Field has increased to
approximately 14,880 acres.

Poland

In Poland, the Company has received the requested concession
modification amendment for the Gapowo B-1 well on its Bytow
concession. The Company has also now received all the other permits
needed to re-enter the Gapowo B-1 well and drill a horizontal lateral
in the Ordovician formation. A drilling rig has been contracted, is
currently mobilizing to the location, and is expected to start
drilling after the first of the year. The well is expected to take
about 35 days to drill. The fracture stimulation will follow after
the removal of the rig.

The vertical Gapowo B-1 well had encountered over-pressured, gas
charged, organic-rich shales in the Lower Silurian and Ordovician
intervals. While drilling the vertical well the average and maximum
total gas readings were much higher than those seen in the Company's
other Baltic Basin wells. The analysis of the log and core data leads
the Company to believe that the Lower Silurian and Ordovician shales
are highly prospective for shale gas as the shales have good total
organic carbon, porosities and permeabilities. The Company's
geological work indicates that these characteristics are likely to
extend over a significant portion of the Company's Baltic Basin
acreage.

Corporate

The Company also is pleased to announce that Mr. Gary Johnson has
accepted the position of Chief Financial Officer and Vice President
of the Company, on a permanent basis. Mr. Johnson had previously been
appointed Chief Financial Officer on an interim basis.

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. The Company's shares are traded
on the Toronto Stock Exchange under the stock symbol BKX.

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 statements regarding Caney wells
and Gapowo B-1 well development, including anticipated results and
timing, and the prospectiveness of the Company's properties.
Forward-looking information is based on plans and estimates of
management and interpretations of 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 indications of early results are reasonably accurate
predictors of the prospectiveness of the shale intervals, that
anticipated results and estimated costs will be consistent with
management's expectations, that required regulatory approvals will be
available when required, that no unforeseen delays, unexpected
geological or other effects, equipment failures, permitting delays or
labor or contract disputes or shortages are encountered, that 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 on 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 anticipated results
and estimated costs will not be consistent with management's
expectations, the Company or its subsidiaries is not able for any
reason to obtain and provide the information necessary to secure
required approvals or that required regulatory approvals are
otherwise not available when required, that unexpected geological
results are encountered, that equipment failures, permitting delays
or labor or contract disputes or shortages are encountered, that
completion techniques require further optimization, that production
rates do not match the Company's assumptions, that very low or no
production rates are achieved, that the Company is unable to access
required capital, 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, and the
other risks and uncertainties applicable to exploration and
development 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 at http://www.sedar.com, 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. The Company undertakes no obligation to update
these forward-looking statements, other than as required by
applicable law.

BOEs/boes may be misleading, particularly if used in isolation. A
boe conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead.

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