BNK Petroleum INC. Announces $66 Million Private Placement

Camarillo, California (ots/PRNewswire) - BNK Petroleum
Inc. (the "Company") is pleased to announce a non-brokered Cdn.$66
million private placement, representing 26,000,000 common shares at
a price of Cdn.$2.54 per share, to Quantum Partners LP, a private
investment fund managed by Soros Fund Management LLC.. ("Quantum").

The financing is subject to, among other things, approval of the
Toronto Stock Exchange. The Company will pay fees of approximately 3%
of the gross proceeds in aggregate to Macquarie Capital Markets
Canada Ltd., who acted as the Company's financial advisor on the
transaction and GMP Securities L.P., TD Securities Inc., Paradigm
Capital Inc. and others who acted as strategic advisors to the
Company.

The shares issued pursuant to the financing will be subject to a
four month hold period in Canada commencing on the date of the
closing. Upon completion of the private placement Quantum will hold
approximately 19.5% of the Company's issued and outstanding shares.
Closing of the financing is currently scheduled to occur on or about
October 25 2010, subject to receipt of all necessary approvals.

The Company intends to use the net proceeds of the private
placement for general corporate purposes, including work commitments
on its European shale gas concessions.

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 all information regarding the
anticipated closing date of the financing, proceeds and the proposed
use of proceeds. Forward-looking information is based on plans and
estimates of management at the date the information is provided and
certain factors and assumptions of management, including that the
required capital and regulatory approvals will be available to
complete the financing. 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
the necessary regulatory approvals will not be obtained in a timely
manner or at all. 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 a U.S. based 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 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, 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 E. Regener, President and
ChiefExecutive Officer, +1(805)484-3613,
Email:investorrelations@bnkpetroleum.com