BNK Petroleum Inc. - Successfully Drills Polish Horizontal Well

Camarillo, California (ots/PRNewswire) -

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

Poland

In Poland, the Company has successfully drilled, cased and
cemented its Gapowo B-1 horizontal well with excellent gas readings
regularly recorded throughout the lateral. The well successfully
drilled the targeted over-pressured, gas-charged, organic-rich Lower
Silurian and Ordovician shales that were originally encountered in
the vertical Gapowo B-1 well. The well has approximately 5,900 feet
of lateral available to fracture stimulate.

The Gapowo B-1 well is believed to be the longest horizontally
drilled well in Poland.

The high gas readings recorded during the drilling of the lateral
were consistent with the characteristic high gas shows observed in
the original vertical well, despite increased mud weight and a switch
to oil-based mud. The conclusions of the log and core data analysis
and sustained elevated gas shows in the lateral validate the
Company's belief that the Lower Silurian and Ordovician shales are
highly prospective for shale gas. The analysis indicated the shales
have good total organic carbon, porosity and permeability. In
addition, the Company's geological analysis indicates that these
characteristics are likely to extend over a significant portion of
the Company's Baltic Basin acreage. The Company believes that it
controls about 285,000 net acres that have good potential to produce
natural gas and another approximately 285,000 net acres that are also
prospective but have higher associated risk.

The Company has prepared a completion design for this well that is
based on the core analyses and knowledge obtained from previous wells
and stimulations. The Company's current plan is to fracture stimulate
approximately thirty percent of the available lateral length followed
by an extended production test to optimize its design prior to
fracture stimulating the remaining lateral.

Site modifications in preparation for the fracture stimulation
will begin as soon as the drilling rig has moved off site. The site
modifications, including building the water handling facilities, are
expected to take a number of weeks, after which the actual fracture
stimulation can begin.

Oklahoma - Tishomingo Field

As planned, the Company recently fracture stimulated 685 feet of
the 5,444 foot lateral (12.5%) in the Leila 31-2H horizontal well, to
test a new stimulation technique for cost optimization purposes.
Although the pilot test results were lower than expected, the
information acquired will greatly assist the Company in continuing to
pursue its optimal completion design and the previously disclosed $8
million estimated Caney well cost.

The Wiggins 12-8H and Barnes 7-2H Caney wells continue to perform
very well. The 30 day rate of the Wiggins 12-8H well, where only half
the length of the Company's typical planned Caney well was
effectively stimulated, is 273 Barrels of oil per day (BOPD) or 402
Barrels of oil equivalent per day (BOEPD). The Barnes 7-2H well had a
60 day rate of 360 BOPD (469 BOEPD) from a lateral that still has 15
percent available to be fracture stimulated.

Wolf Regener, President and Chief Executive Officer commented, "In
Poland, I am very excited that we have confirmed our original
discovery in the Gapowo B-1 vertical well by successfully drilling
the long lateral and encountering such excellent shows. We are
looking forward to a successful fracture stimulation and production
test to confirm the play's full potential. In the U.S., the sustained
production results at both the Barnes 7-2H and Wiggins 12-8H wells
are validating our internal estimates. These results, along with our
Caney whole core analysis, will help fine tune the plan for our 2014
drilling program which is expected to begin in the second quarter of
this year. We also look forward to obtaining the final year end
reserve report which we anticipate reporting in the next few weeks."

The Company's investor presentation has been updated and can be
found on Company's website.

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 oil and 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 plans, anticipated results
and timing, estimated future Caney well costs 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 managements' expectations, that new
stimulation techniques will be successful, that the Company's
geological analyses are accurate, 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 carry out its
plans, 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 managements'
expectations, new completion techniques proving to be unsuccessful,
the Company's geological analyses proving to be inaccurate, 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

(BKX.)

ots Originaltext: BNK Petroleum Inc.
Im Internet recherchierbar: http://www.presseportal.de