BNK Petroleum Inc. Announces Senior Credit Facility Increase

Camarillo, California (ots/PRNewswire) -

BNK Petroleum Inc. (the "Company") is pleased to announce that
Morgan Stanley Capital Group Inc. ("MSCGI") has increased its
commitment amount under the credit facility announced by the Company
on July 30, 2014 from $15,900,000 to $24,400,000. The other terms of
the US$100,000,000 facility remain the same.

The facility bears interest at a per annum rate equal to then
three month LIBOR plus an applicable margin ranging from 2% to 7%
based on a number of factors including the ratio of outstanding
borrowings to a calculated borrowing base level and individual well
value concentration. The facility provides for interest only payments
until the July 2018 maturity date. The proceeds from the facility are
intended to fund drilling and completion of Caney shale oil wells in
the Tishomingo field in Oklahoma.

Wolf Regener, President and CEO said: "We are pleased that MSCGI
has provided us with this increase during these challenging times in
the oil and gas business. We appreciate that MSCGI shares our belief
in the current and potential value of our Tishomingo field asset."

The Company also reports that since the beginning of the year
discretionary expenses have been scaled back, cost reduction measures
were initiated, and operations have been further streamlined.

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 information regarding the
Company's use of proceeds from the new facility. 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 the indications of early results are reasonably accurate
predictors of the prospectiveness of the shale intervals, that
required regulatory approvals will be available when required, that
expected production from future wells can be achieved as modeled,
declines will match the modeling, future well production rates will
be improved over existing wells, that rates of return as modeled can
be achieved, that recoveries are consistent with management's
expectations, that additional wells are actually drilled and
completed, that no unforeseen delays, unexpected geological or other
effects, equipment failures, permitting delays or labor or contract
disputes 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 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 the Company or its subsidiaries is not able for any
reason to obtain and provide the information necessary to secure
required approvals, that unexpected geological results 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, 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. These risks as well as 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. The Company undertakes no
obligation to update these forward-looking statements, other than as
required by applicable law.

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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