BNK Announces Operations Update

Camarillo, Calif. (ots/PRNewswire) -

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

Tishomingo Field, Oklahoma

The Company's latest Caney shale oil well, the Hartgraves 1-5H
well (100% interest) is flowing back after being completed with the
Company's largest hydraulic stimulation to date. Over the last 5 days
the well has been flowing at an average restricted production rate of
620 barrels of oil equivalent per day (BOEPD) of which 424 barrels
are oil. The well began making oil about 10 days ago and averaged
over 520 BOEPD during the last 10 days while cleaning up and
improving to the current 620 BOEPD rate. The initial rates and
flowing pressures indicate the Hartgraves 1-5H should be one of BNK's
best Caney wells to date.

Even with the very large enhanced completion utilized in this well
and having encountered some drilling issues, the drilling and
completion cost of this well still came in under $8 million dollars.
The Company continues to optimize its geologic interpretations,
drilling practices and completion designs to improve future well
performance and costs.

The previously drilled and completed Wiggins 11-2H well (93.4%
interest), had an initial 30 day production rate of 323 BOEPD, of
which 202 barrels were oil. The well had a steeper than average
decline in the first few weeks following which the rate of decline
slowed significantly. The Company attributes this steeper decline to
a number of items that were modified in the Hartgraves 1-5H well,
including refinement in lateral placement, completion design as well
as flowback procedures.

The drilling rig is currently drilling the lateral in the Emery
17-1H well which should be completed and flowing back in November.

The Company's production in the third quarter, which only included
about 30 days of Wiggins 11-2H production and no Hartgraves 1-5H
production, averaged 971 BOEPD. The Company's September production
averaged 1,087 BOEPD.

Gapowo B-1H well, Poland

The operations to retrieve downhole pressure gauges in the Gapowo
B-1 were completed last week and a reservoir model analysis is
underway. Scale in the tubing delayed operations pushing the expected
completion of the reservoir analysis to late November.

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 Caney wells
and Gapowo B-1 well development, including plans, anticipated results
and timing. 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
athttp://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 (barrels of oil equivalent) 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.

This news release contains peak and initial production rates and
other short-term production rates. Readers are cautioned that initial
production rates are preliminary in nature and are not necessarily
indicative of long-term performance or of ultimate recovery.

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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