BNK Petroleum Inc. announces Caney operations update

             BNK Petroleum Inc. announces Caney operations update

PR Newswire

CAMARILLO, CA, Oct. 2, 2013

CAMARILLO, CA, Oct. 2, 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, 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.

SOURCE BNK Petroleum Inc.


Wolf E. Regener+1 (805) 484-3613
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