BNK Announces Operations Update

Camarillo, California (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 has fracture stimulated 30 percent of the Emery 17-1H
well (98.7% interest). The Company has decided to flowback the well
at this time and fracture stimulate the rest of the lateral at a
later date. The well began flowback today.

The Company has just finished drilling the Nickel Hill 36-3H well
(99.4% interest) and has cemented the casing in place. The Company
employed revised drilling practices on the Nickel Hill 36-3H that
were successful in avoiding some issues encountered in the Emery
17-1H well. The Emery 17-1H issues impacted drilling time and cost
and necessitates remedial work prior to fracture stimulation of the
rest of the lateral. The Company expects to utilize these new
drilling practices in future Caney wells and believes they will
enable significant future savings. After drilling the Nickel Hill
36-3H well the Company's net acreage in the Tishomingo Field has
increased to about 16,200 acres.

The Company's existing Caney production is declining at a slower
rate than forecast in the reserves report for the year ended December
31, 2013 and in management's opinion is performing very well.
However, given the oil price drop over the last few months, the
Company is taking a conservative approach to capital expenditures.
Accordingly, the Company has released the drilling rig and will
postpone the completion of the Nickel Hill 36-3H well and the
fracture stimulation of the rest of the Emery 17-1H well. The Company
is also evaluating cost saving measures.

Gapowo B-1H Well, Poland

The previously announced reservoir model analysis for the Gapowo
B-1H shale gas well in Poland has been completed. The model was
prepared for the Company by a third party consulting firm that is a
world leader in this field.

The model simulated flow rates and recoveries that would be
achieved if another well is drilled near the Gapowo B-1H well, in
various sub intervals of the Ordovician shale, and is successfully
fracture stimulated along a full-length lateral with the modeled
fracture design. It also assumes that the learnings from the Gapowo
B-1H well and the modeling are incorporated in the new well design.
As announced on June 5 and July 30, 2014, the fracture stimulation of
the Gapowo B-1H well encountered challenges resulting in placement of
proppant that was sub-optimal and did not achieve designed volumes.
Flow back rates, data from pressure gauges and data analysis indicate
that only 8 of the 20 stages were contributing to the flow.

The forecasted flow rates and estimated recoveries predicted by
the numerical model for a full stimulated length lateral, in addition
to the overpressure that was confirmed by the data collected from the
Gapowo B-1H well, are encouraging and the Company believes further
wells are warranted.

The detailed study report prepared by the third party consulting
firm will be included in the information made available to potential
joint venture partners. The Company has begun the process of
providing potential partners with access to project data. The Company
believes that the encouraging modeling results, strong natural gas
prices in Europe, and the Company's large Polish acreage position
will be attractive to joint venture partners with the capacity to
advance this project.

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 the
Company's plans for development of its properties in Oklahoma and
Poland, 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 drilling
and 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 drilling and 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 (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.

The Company's disclosure 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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