BNK Petroleum inc. Announces Wytowno Drilling Results

Camarillo, California (ots/PRNewswire) - BNK
Petroleum Inc. (the "Company") announced today that the Wytowno #1
well, on the Slawno concession in Poland, has been drilled to 3,580
meters and is being prepared to have casing run and cemented to total
depth. During drilling, numerous gas shows were recorded over 220
meters of the Lower Silurian, Ordovician and Cambrian shales and a
further 450 meters of gas shows were recorded in the middle and upper
Silurian shale. The strongest gas shows were encountered in the
Ordovician shale. The gas shows consisted of mainly methane, with a
small percentage of ethane and propane.

The Ordovician shale interval in the Wytowno #1 well is
approximately 83 meters thick and represents a thicker section than
seen in previous wells drilled in updip, structurally higher
positions. This suggests an increasing thickness trend that may
continue into deeper portions of the basin. Approximately 200
sidewall cores have been taken to fully evaluate the physical
parameters of the rock. These analyses will provide, among other
data: porosity, permeability, total organic carbon, rock eval
pyrolysis, thermal maturity, gas composition, micropaleontology, and
mechanical properties.

The Company estimates that it will take about 45 days to receive
the results of these analyses from the subcontractors. The suite of
Schlumberger open hole logs that were run in the Wytowno #1 well,
will be calibrated using the data to more precisely calculate the
potential pay sections. The log suite currently calculates the
highest gas and best properties in the Ordovician shale interval. In
addition IsoTube and IsoJar samples were taken which will allow
verification of the thermal maturity.

In early April all data analysis for the completion should be
finished and the fracture stimulation will be designed. The Company
anticipates being able to fracture stimulate the first interval in
the Wytowno #1 well and provide results during the second quarter.

At a current estimated cost of US$6 million, which includes
estimated costs to run and cement the production casing, the well
will be drilled on budget. Once casing has been run and cemented in
the Wytowno #1 well, the rig will mobilize over to the Lebork
location, on the Slupsk concession to immediately begin drilling
operations. The Lebork location has already been completed and all
permits are in place. The Lebork #1 well is located approximately 26
kilometers from Lane Energy/Conoco's Lebien LE1 well. The Wytowno #1
and Lebork #1 wells are being drilled by Saponis Investments Sp Z
o.o. where the Company is Manager. The Company owns 26.6 per cent of
Saponis, and the rest of Saponis is owned by Rohöl-Aufsuchungs
Aktiengesellschaft (RAG), Sorgenia E&P SpA and by LNG Energy through
a subsidiary. The company is obliged to pay approximately 6.6 per
cent of the drilling costs of these first two wells, with the other
20 per cent of the company's interest being paid by RAG and Sorgenia
under the terms of the company's farm-out to RAG and Sorgenia. The
company holds 195,000 net acres in Poland through Saponis and a
further 880,000 adjacent net acres through another European
subsidiary.

Wolf Regener, CEO of the Company, stated, "We are pleased with
the initial log analysis and the gas shows in the Wytowno #1 well. We
look forward to the analysis of all the data to identify the
intervals to be tested so that we can attempt to prove that gas can
be liberated from the Polish shales in this wellbore."

Germany

The Company is currently awaiting the analysis of the samples
that were collected in the second phase of field work, which was
completed during the quarter of 2010. Additionally, the bidding
process has been initiated for seismic operations planned for the
second half of 2011. The Company expects to acquire between 30 and 50
kilometers of 2D seismic on each of the 6 concession blocks. The
first seismic to be acquired will likely be in the North Rhine
Westfallia blocks on acreage offsetting Exxon. The Company's 2.4
million acres in Germany were acquired primarily for shale gas, but
some of the blocks also have secondary potential for tight gas sands
and Coal Bed Methane.

Alabama

In Alabama the Company has completed testing of its WS Lee well
without economic quantities of gas being produced. The well is being
plugged and abandoned.

Financials

The Company will be releasing its year end financials and its
2010 year end reserve report on or about March 25th, 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 Wytowno #1
well, including timing of commencement planned frac program,
expectation that cost of well will be within budget, plans to acquire
2D seismic and timing regarding same and expected timing of release
of year end financial and reserves information. 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 the financial condition and 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 development plans of
the Company or the other participants in the Wytowno #1 well will
change as well as the other risks and uncertainties applicable to
exploration activities and to the Company 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 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 +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:
For further information: Wolf E. Regener +1(805)484-3613,
Email:investorrelations@bnkpetroleum.com