BNK Reports 2009 Year End Reserve Update

Calgary, Canada, February 27, 2010 (ots/PRNewswire) - BNK Petroleum Inc.
(the "Company" or "BNK")/ is pleased to announce a 182% increase of
its Tishomingo shale gas field reported proved and probable reserves
("2P") to 37.9 million boe from 13.5 million boe at year end 2008.
Proved and Probable reserves as of December 31, 2009 were U.S.$241.2
million, up from 2008 year end of U.S.$187.8 million, calculated at a
10% pre-tax present value ("NPV") of future net revenue. Proved
reserves ("1P") were up 198% to 24.9 million boe from 8.4 million boe
at year end 2008. Unless otherwise stated, reserves refer to reserves
of natural gas, natural gas liquids and crude oil expressed in
barrels of oil equivalent ("boe"). Certain amounts cited herein have
been rounded for presentation purposes.

The 2008 and 2009 year-end reports were both prepared by MHA
Petroleum Consultants, LLC. ("MHA"), independent petroleum
engineering consultants of Lakewood, Colorado. As a result of the
Company's planned drilling and completion program on its existing
properties in the Tishomingo Field, Oklahoma, all reserves that had
been classified as probable reserves in the 2008 year-end report have
been converted to proved reserves in the updated report, also
prepared by MHA (the "2009 Year End Report"). All updated reserve
estimates are effective as at December 31, 2009.

In December, 2008, BNK applied for and received approval to drill
three additional wells in one of its sections at an 80-acre spacing
pattern. An 80-acre spacing pattern would allow for eight wells per
section which could allow for over 340 total gross wells for this
project. To date the Company has drilled and participated in 39 gross
wells in this project.

Forecast Price Case - Pre Tax

Category Gross Net Gross Net Gross Net Net NPV
Oil Oil Gas Gas NGL NGL Mboes 10%
(Mbbls) (Mbbls) (Mmcf) (Mmcf) (Mbbls) (Mbbls) (US$000's)
Proved
Developed 482 380 13,614 10,738 2,686 2,119 4,288 45,109
Producing
Proved 4,272 3,369 59,377 46,831 11,927 9,407 20,581 127,270
Undeveloped
Total
Proved 4,753 3,749 72,991 57,568 14,613 11,525 24,869 172,380
Probable 2,708 2,136 37,639 29,686 7,560 5,963 13,046 68,815
Total
Proved &
Probable 7,461 5,885 110,630 87,254 22,173 17,488 37,915 241,195

Future net revenue is calculated after deduction of forecast
royalties, operating expenses, capital expenditures and abandonment
costs but before corporate overhead or other indirect costs,
including interest and income taxes.

The 2009 Year End Report was prepared in accordance with National
Instrument 51-101 using assumptions and methodology guidelines
outlined in the Canadian Oil and Gas Evaluation Handbook and the
Sproule Oil & Natural Gas Forecast effective January 1, 2010 as set
forth below. Proved reserves are those reserves that can be estimated
with a high degree of certainty to be recoverable. It is 90% likely
that the actual remaining quantities recovered will exceed the
estimated proved reserves. Probable reserves are those additional
reserves that are less certain to be recovered than proved reserves.
It is equally likely that the actual remaining quantities recovered
will be greater or less than the sum of the estimated proved plus
probable reserves.

Sproule Forecast as of January 1, 2010
--------------------------------------
---------------------------------------
WTI, Henry Hub,
Year $US/Bbl $US/MMBtu
---------------------------------------
2010 $77.59 $5.70
---------------------------------------
2011 $82.77 $6.48
---------------------------------------
2012 $85.15 $6.70
---------------------------------------
2013 $88.40 $7.43
---------------------------------------
2014 $90.17 $8.12
---------------------------------------
2015 $91.97 $8.28
---------------------------------------
2016 $93.81 $8.45
---------------------------------------
2017 $95.69 $8.62
---------------------------------------
2018 $97.60 $8.79
---------------------------------------
2019 $99.55 $8.96
---------------------------------------
2020 $101.54 $9.14
---------------------------------------

All references to 'boe' (barrel of oil equivalent) are calculated
on the basis of 6 mcf:1 bbl. Readers are cautioned that the
conversion used in calculating barrels of oil equivalent is based on
an energy equivalency conversion method primarily applicable at the
burner tip and does not represent a value equivalency at the
wellhead. Furthermore, boes may be misleading if used in isolation.
Future net revenues disclosed herein do not represent fair market
value.

BNK is continuing its pursuit of additional shale gas concessions
in both Eastern and Western Europe. The Company has acquired 2.1
million gross acres in Europe to date, which are located in 4 basins.
The Company continues to apply for concession grants and is awaiting
other potential concession approvals.

About BNK Petroleum Inc.

BNK Petroleum Inc. is a U.S. based oil and gas exploration and
production company focused on finding and exploiting large
predominately unconventional oil and gas resource plays. The Company
holds and operates shale gas wells in the United States. Additionally
the Company is utilizing its technical and operational expertise to
identify and acquire unconventional projects outside of North
America. The Company's shares are traded on the Toronto Stock
Exchange under the stock symbol BKX.

Estimations of reserves and net present values of future net
revenue in this press release constitute forward-looking information.
See "Forward Looking Information" below. The reserve data in this
release is subject to and should be read in conjunction with the
entire Form 51-101F1 - Statement of Reserves Data and Other Oil and
Gas Information which the Company expects to file on or before March
31, 2010 and which will be available by electronic access under the
Company's profile at http://www.sedar.com and on the Company's
website.

Forward-looking Information

Information in this news release respecting estimations of
reserves and net present values of future net revenue and the
Company's plans and future activities constitutes 'forward-looking
information' and as such is based on certain assumptions and subject
to risk and uncertainties which could cause actual results to differ
materially from those anticipated. Such information is based on
information available to the Company at the date of this news release
and which it believes to be reasonable. The reserves and future
pre-tax net revenue in this press release represent estimates only.
The reserves and future pre-tax net revenue from the company's
properties have been independently evaluated by MHA with effective
dates of December 31, 2009 and December 31, 2008, respectively. This
evaluation includes a number of assumptions relating to factors such
as initial production rates, production decline rates, ultimate
recovery of reserves, timing and amount of capital expenditures,
marketability of production, future prices of crude oil and natural
gas, operating costs, abandonment and salvage values, royalties and
other government levies that may be imposed during the producing life
of the reserves. These assumptions were based on the Sproule Oil &
Natural Gas Forecast from the 2009 Year End Report as at the dates of
the report and many of these assumptions are subject to change and
are beyond the control of the Company. Actual production, sales and
cash flows derived therefrom will vary from the evaluation and such
variations could be material. The present value of estimated future
net revenues referred to herein should not be construed as the
current market value of estimated crude oil and natural gas reserves
attributable to the Company's properties. Risks and uncertainties
that could affect the forward looking information include, but are
not limited to: the risks associated with the oil and gas industry
and BNK's ability to identify suitable drilling locations (e.g.,
operational risks in development, exploration and production; delays
or changes in plans with respect to exploration or development
projects or capital expenditures; the uncertainty of reserve
estimates; the uncertainty of estimates and projections relating to
production, costs and expenses, and health, safety and environmental
risks), risk associated with equipment procurement and equipment
failure, risks related to international operations and doing business
in foreign jurisdictions, the risk of commodity price and foreign
exchange rate fluctuations, risks related to future royalty rate
changes and risks and uncertainties associated with securing and
maintaining necessary regulatory approvals. In addition, the current
financial crisis has resulted in severe economic uncertainty and
resulting illiquidity in credit and capital markets which increases
the risk that actual results will vary from forward looking
expectations and these variations may be material. Additional risks
and uncertainties are described in detail in BNK's most recent Annual
Information Form, which is available at http://www.sedar.com. The
Corporation assumes no obligation to update or revise the
forward-looking information to reflect new events or circumstances,
except as required by law.

The TSX does not accept responsibility for the adequacy or
accuracy of this news release.

For further information: Wolf Regener, President and Chief
Executive Officer, +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

Contact:
CONTACT: For further information: Wolf Regener, President and
ChiefExecutive Officer, +1-805-484-3613,
Email:investorrelations@bnkpetroleum.com