BNK Petroleum Inc. announces Caney operations update

             BNK Petroleum Inc. announces Caney operations update

  PR Newswire

  CAMARILLO, California, October 3, 2013

CAMARILLO, California, October 3, 2013 /PRNewswire/ --

BNK Petroleum Inc. (the " Company " or " BNK ") (TSX:BKX), is providing an
update on its Tishomingo Field, Caney oil shale operations in Oklahoma.

The Company's Hartgraves 5-3H Caney well was successfully fracture stimulated
in September and, while it is early in the flowback phase, the well has, over
the last 4 days, averaged 1,200 barrels of oil equivalent per day (boepd) of
which 585 barrels a day is oil. The early production from this well is more
constant and twice as good as the best and previously drilled and fracture
stimulated Caney well, the Dunn 2-2H.

The Dunn 2-2H well had a 24 hour peak rate of 620 BOEPD of which 300 barrels
was oil. The 30 day initial production (IP) rate for this well is 420 BOEPD
of which 195 barrels is oil. The Barnes 6-3H well, where only 11 out of 17
stages were fracture stimulated, had a 30 day IP rate of 200 BOEPD of which 93
barrels was oil.

The Company believes that the improved production achieved in each successive
Caney well is entirely the result of continuous improvements in frac design as
geologically no significant variations can be observed. The Company believes
that the latest design used in the Hartgraves 5-3H well, will also reduce the
initial production decline and increase overall recoveries by accessing a much
larger part of the oil shale near the lateral. The estimated cost to drill
and complete the current set of new Caney wells is approximately $11 million
per well. It is anticipated that with further design optimization and a
continuous drilling and stimulation program, these costs can eventually be
reduced to between $7 and $9 million per well.

The Company's latest Caney well, the Barnes 7-2H, has been vertically drilled
and whole core and a full suite of open hole logs were taken through the
Caney, T-zone and Upper Sycamore formations. This data was acquired to
further understand the reservoir, optimize drilling and fracture stimulation
designs, prepare the development program, support reserves estimates and aid
in the end of year reserves report. Subsequently, the well was plugged back
and is currently drilling the lateral portion of the horizontal leg. It is
anticipated that fracture stimulation operations will begin near the end of
October. The drilling rig will then be moved to the next location, the
Wiggins 12-8H.

The Company has approximately a 100% working interest in each of the five
Caney wells referred to above. As a result of the Company's recent
operations, the Company's net acreage in the Caney formation in the Tishomingo
Field has increased to approximately 13,600 acres.

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 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 outside of North America. 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 development including anticipated
results, estimated costs 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 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 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 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
anticipated results and estimated costs will not be consistent with
managements' expectations, 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
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



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