BNK Petroleum Inc. Announces 2013 Year-end Reserves

Camarillo, California (ots/PRNewswire) -

BNK Petroleum Inc. (the "Company" or "BNK") is providing the
results of its December 31, 2013 independent reserves evaluation.

The evaluation of the Company's reserves in the Caney / Upper
Sycamore formations of the Tishomingo Field in Oklahoma was conducted
by Netherland, Sewell and Associates, Inc. ("NSAI") in accordance
with National Instrument 51-101 - Standards of Disclosure for Oil and
Gas Activities.

2013 Gross Reserves Summary

- Total Proved Reserves: 4 million Barrels of oil equivalents (BOEs)
- Proved & Probable Reserves: 15.5 million BOEs
- Proved, Probable and Possible Reserves: 40.9 million BOEs

Net Present Value of Future Net Revenue (before tax, discounted at
10%)

- Total Proved Reserves: U.S.$71 million
- Proved & Probable Reserves: U.S.$286 million
- Proved, Probable and Possible Reserves: U.S.$847 million

These reserves estimates are attributed to the 6 wells already
drilled and the assumed drilling of 29 net additional wells for the
Proved and Probable reserves and 25 net wells for the Possible
reserves at 160 acre spacing (4 wells per section) over the next 4
years. The reserves are allocated to approximately 9,200 net acres in
the Company's westerly acreage. This is approximately 63% of the
Company's 14,700 net acres in the Tishomingo Field. Based on data
from the Company's historical drilling in the deeper Woodford
formation correlated with a 3D seismic survey across its entire
Tishomingo acreage, the Company anticipates that future wells on its
easterly acreage will confirm reserves over its entire acreage. The
Company also believes that future well locations will ultimately be
able to be further downspaced to increase recoverable reserves.

Summary of Oil & Gas Reserves
Forecast Prices & Costs
Light & Medium Oil Natural Gas Natural Gas
Liquids MBOEs
BNK BNK BNK BNK
Gross Net Gross Net Gross Net Gross Net
Reserve Category (Mbbl) (Mbbl) (MMcf) (MMcf) (Mbbl) (Mbbl) (Mbbl) (Mbbl)
Proved
Developed
Producing 414.3 324.7 666.7 527.0 154.5 122.1 679.9 534.6
Developed
Non-
Producing 321.3 251.2 248.5 194.2 64.7 50.6 427.4 334.2
Undeveloped 2,188.6 1,728.4 1,692.5 1,336.6 440.8 348.1 2,911.5 2,299.3
Total Proved 2,924.2 2,304.3 2,607.7 2,057.8 660.0 520.8 4,018.8 3,168.1
Probable 8,640.4 6,839.1 6,769.6 5,358.1 1,756.6 1.390.4 11,525.3 9,122.5
Total Proved Plus
Probable 11,564.6 9,143.5 9,377.3 7,415.9 2,416.6 1,911.2 15,544.1 12,290.6
Possible 19,077.8 15,378.8 14,752.9 11,892.4 3,842.5 3,097.5 25,379.1 20,458.4
Total Proved Plus
Probable
Plus Possible 30,642.5 24,522.3 24,130.2 19,308.3 6,259.1 5,008.7 40,932.2 32,749.0

Net Present Value of Future Net Revenue
Forecast Prices & Costs
Net Present Value of Future Net Revenue ($ millions)
Before Income Taxes After Income Taxes
Reserv
Category 0% 5% 10% 15% 20% 0% 5% 10% 15% 20%
United States
Proved
Developed
Producing 6.4 22.9 20.5 18.7 17.4 17.4 15.1 13.5 12.2 11.3
Developed
Non-Producing 22.3 17.8 14.9 13.0 11.7 14.7 11.6 9.7 8.5 7.6
Undeveloped 86.4 54.3 35.5 23.8 16.0 57.0 35.8 23.4 15.6 10.5
Total Proved 135.1 95.0 71.0 55.5 45.0 89.2 62.5 46.6 36.4 29.5
Probable 486.6 312.3 215.5 156.5 118.1 321.1 203.2 142.4 103.6 78.2
Total Proved
Plus Probable 621.7 407.4 286.5 212.1 163.1 410.3 268.7 208.8 140.0 107.7
Possible 1,297.5 816.0 561.4 410.6 313.8 856.4 538.6 370.6 271.1 207.2
Total Proved
Plus Probable
Plus Possible 1,919.2 1,223.3 847.8 622.7 476.9 1,266.7 807.3 579.4 411.0 314.9

Readers are referred to the Company's Form 51-101F1 Statement of
Reserves Data and Other Oil and Gas Information for the year ended
December 31, 2013, which can be accessed electronically from the
SEDAR website at http://www.sedar.com, for additional information.

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. Possible reserves are
those additional reserves that are less certain to be recovered than
probable reserves. There is a 10% probability that the quantities
actually recovered will equal or exceed the sum of provided plus
probable plus possible reserves. The present value of estimated
future net revenues referred to herein does not represent fair market
value.

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 and Spain. 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 estimates of
reserves and future pre-tax net revenue, the productiveness of the
Company's other Tishomingo Field acreage and future downspacing of
Caney / Upper Sycamore wells. 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. Estimated
reserves and future pre-tax net revenue have been independently
evaluated by NSAI with an effective date of December 31, 2013. This
evaluation is based on a limited number of wells with limited
production history and includes a number of assumptions relating to
factors such as availability of capital to fund required
infrastructure, commodity prices, production performance of the wells
drilled, successful drilling of infill wells, the assumed effects of
regulation by government agencies and future operating costs. All of
these estimates will vary from actual results. Estimates of the
recoverable oil and natural gas reserves attributable to any
particular group of properties, classifications of such reserves
based on risk of recovery and estimates of future net revenues
expected therefrom, may vary. The Company's actual production,
revenues, taxes, development and operating expenditures with respect
to its reserves will vary from such estimates, and such variances
could be material. In addition to the foregoing, other significant
factors or uncertainties that may affect either the Company's
reserves or the future net revenue associated with such reserves
include material changes to existing taxation or royalty rates and/or
regulations, and changes to environmental laws and regulations. The
Company's expectations regarding the productiveness of the Company's
other Tishomingo Field acreage and future downspacing of Caney /
Upper Sycamore wells is based on interpretations of geologic and
other information by the Company's exploration team at the date the
information is provided and is subject to several assumptions of
management, including that indications of early results are
reasonably accurate predictors of the prospectiveness of the shale
intervals and that anticipated results will be consistent with
managements' expectations, and is subject to a variety of risks,
including that anticipated results will not be consistent with
managements' expectations and the Company's geological analyses
proving to be inaccurate.

Information on other important economic factors or significant
uncertainties that may affect components of the reserves data and the
other forward looking statements in this release are contained in the
Company's Form 51-101F1 Statement of Reserves Data and Other Oil and
Gas Information for the year ended December 31, 2013, Management
Discussion and Analysis and in the Company's Annual Information Form
under "Risk Factors", which are available under the Company's profile
at http://www.SEDAR.com. 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. The Company undertakes no
obligation to update forward-looking statements, other than as
required by applicable law.

For further information:

Wolf E. Regener +1(805)484-3613
Email: investorrelations@bnkpetroleum.com
Website: http://www.bnkpetroleum.com

ots Originaltext: BNK Petroleum Inc.
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