BNK Petroleum Inc. announces 2013 year-end reserves

             BNK Petroleum Inc. announces 2013 year-end reserves

PR Newswire

CAMARILLO, CA, March 3, 2014

CAMARILLO, CA, March 3, 2014 /PRNewswire/ - BNK Petroleum Inc. (the "Company"
or "BNK") (TSX:BKX) is providing the results of its December 31, 2013
independent reserves evaluation.

The evaluation  of  the Company's  reserves  in  the Caney  /  Upper  Sycamore 
formations of the Tishomingo  Field in Oklahoma  was conducted by  Netherland, 
Sewell and Associates,  Inc. ("NSAI") in  accordance with National  Instrument 
51-101 - Standards of Disclosure for Oil and Gas Activities.

2013 Gross Reserves Summary

  *Total Proved Reserves: 4 million Barrels of oil equivalents (BOEs)
  *Proved & Probable Reserves: 15.5 million BOEs
  *Proved, Probable and Possible Reserves: 40.9 million BOEs

Net Present Value of Future Net Revenue (before tax, discounted at 10%)

  *Total Proved Reserves: U.S.$71 million
  *Proved & Probable Reserves: U.S.$286 million
  *Proved, Probable and Possible Reserves: U.S.$847 million

These reserves estimates are attributed to the 6 wells already drilled and the
assumed drilling  of 29  net  additional wells  for  the Proved  and  Probable 
reserves and 25 net  wells for the  Possible reserves at  160 acre spacing  (4 
wells per  section) over  the next  4 years.  The reserves  are allocated  to 
approximately 9,200  net acres  in  the Company's  westerly acreage.  This  is 
approximately 63% of the Company's 14,700 net acres in the Tishomingo  Field. 
Based on data from  the Company's historical drilling  in the deeper  Woodford 
formation correlated with  a 3D  seismic survey across  its entire  Tishomingo 
acreage, the Company  anticipates that  future wells on  its easterly  acreage 
will confirm reserves over its entire acreage. The Company also believes that
future well locations  will ultimately  be able  to be  further downspaced  to 
increase recoverable reserves.

                                                                                                    
                                    Summary of Oil & Gas Reserves
                                       Forecast Prices & Costs
                                                                             
                                                                   Natural Gas
                 Light & Medium Oil       Natural Gas                Liquids        MBOE's
                    BNK                   BNK                   BNK                 BNK
Reserve            Gross       Net       Gross       Net       Gross      Net      Gross       Net
Category          (Mbbl)    (Mbbl)    (MMcf)    (MMcf)   (Mbbl)   (Mbbl)    (Mbbl)    (Mbbl)
Proved                                                                               
 Developed
  Producing         414.3     324.7     666.7     527.0    154.5    122.1     679.9     534.6
 Developed
  Non-Producing     321.3     251.2     248.5     194.2     64.7     50.6     427.4     334.2
 Undeveloped     2,188.6   1,728.4   1,692.5   1,336.6    440.8    348.1   2,911.5   2,299.3
Total Proved      2,924.2   2,304.3   2,607.7   2,057.8    660.0    520.8   4,018.8   3,168.1
Probable          8,640.4   6,839.1   6,769.6   5,358.1  1,756.6  1.390.4  11,525.3   9,122.5
Total Proved
Plus Probable    11,564.6   9,143.5   9,377.3   7,415.9  2,416.6  1,911.2  15,544.1  12,290.6
Possible         19,077.8  15,378.8  14,752.9  11,892.4  3,842.5  3,097.5  25,379.1  20,458.4
Total Proved
Plus Probable    30,642.5  24,522.3  24,130.2  19,308.3  6,259.1  5,008.7  40,932.2  32,749.0
Plus Possible
                                                                            
                                                                           


                                                                                                  
                              Net Present Value of Future Net Revenue
                                      Forecast Prices & Costs
                                                                              
                             Net Present Value of Future Net Revenue ($ millions)
                         Before Income Taxes                       After Income Taxes
Reserve
Category            0%       5%    10%    15%    20%       0%     5%    10%    15%    20%
                                                                              
United States                                                                  
Proved                                                                         
Developed
Producing         26.4     22.9   20.5   18.7   17.4     17.4   15.1   13.5   12.2   11.3
Developed
Non-Producing     22.3     17.8   14.9   13.0   11.7     14.7   11.6    9.7    8.5    7.6
Undeveloped       86.4     54.3   35.5   23.8   16.0     57.0   35.8   23.4   15.6   10.5
Total Proved     135.1     95.0   71.0   55.5   45.0     89.2   62.5   46.6   36.4   29.5
Probable         486.6    312.3  215.5  156.5  118.1    321.1  203.2  142.4  103.6   78.2
Total Proved
Plus Probable    621.7    407.4  286.5  212.1  163.1    410.3  268.7  208.8  140.0  107.7
Possible       1,297.5    816.0  561.4  410.6  313.8    856.4  538.6  370.6  271.1  207.2
Total Proved
Plus Probable  1,919.2  1,223.3  847.8  622.7  476.9  1,266.7  807.3  579.4  411.0  314.9
Plus Possible
                                                                          

Readers are referred to the Company's Form 51-101F1 Statement of Reserves Data
and Other Oil and Gas Information for the year ended December31, 2013,  which 
can be accessed electronically  from the SEDAR  website at www.sedar.com,  for 
additional information.

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. Possible reserves are those additional  reserves 
that are less certain to be recovered than probable reserves. There is a  10% 
probability that the quantities  actually recovered will  equal or exceed  the 
sum of provided plus  probable plus possible reserves.  The present value  of 
estimated future  net revenues  referred  to herein  does not  represent  fair 
market value.

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  estimates of reserves  and future pre-tax  net 
revenue, the productiveness  of the Company's  other Tishomingo Field  acreage 
and future  downspacing  of Caney  /  Upper Sycamore  wells.  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. 
Estimated reserves  and future  pre-tax net  revenue have  been  independently 
evaluated by NSAI with an effective date of December 31, 2013. This evaluation
is based on  a limited  number of wells  with limited  production history  and 
includes a number of assumptions relating  to factors such as availability  of 
capital  to  fund  required   infrastructure,  commodity  prices,   production 
performance of the  wells drilled,  successful drilling of  infill wells,  the 
assumed effects  of regulation  by government  agencies and  future  operating 
costs. All of these estimates will vary from actual results. Estimates of  the 
recoverable oil and natural gas reserves attributable to any particular  group 
of properties, classifications of such reserves based on risk of recovery  and 
estimates of future net revenues  expected therefrom, may vary. The  Company's 
actual production,  revenues, taxes,  development and  operating  expenditures 
with respect to its reserves will vary from such estimates, and such variances
could be material. In addition to the foregoing, other significant factors or
uncertainties that may affect either the Company's reserves or the future  net 
revenue associated with  such reserves  include material  changes to  existing 
taxation or royalty  rates and/or  regulations, and  changes to  environmental 
laws and regulations. The Company's expectations regarding the productiveness
of the  Company's other  Tishomingo Field  acreage and  future downspacing  of 
Caney / Upper Sycamore wells is based on interpretations of geologic and other
information by the Company's exploration team  at the date the information  is 
provided and is subject to  several assumptions of management, including  that 
indications of  early  results  are  reasonably  accurate  predictors  of  the 
prospectiveness of the shale  intervals and that  anticipated results will  be 
consistent with  managements' expectations,  and is  subject to  a variety  of 
risks,  including  that  anticipated  results  will  not  be  consistent  with 
managements' expectations and the Company's geological analyses proving to  be 
inaccurate.

Information on other important  economic factors or significant  uncertainties 
that may affect components of the reserves data and the other forward  looking 
statements in  this  release are  contained  in the  Company's  Form  51-101F1 
Statement of Reserves  Data and  Other Oil and  Gas Information  for the  year 
ended December31,  2013,  Management  Discussion  and  Analysis  and  in  the 
Company's Annual Information  Form under "Risk  Factors", which are  available 
under the Company's profile at www.SEDAR.com. The present value of  estimated 
future net revenues referred to herein should not be construed as the  current 
market value of estimated crude oil  and natural gas reserves attributable  to 
the Company's  properties. The  Company undertakes  no obligation  to  update 
forward-looking statements, other than as required by applicable law.





SOURCE BNK Petroleum Inc.

Contact:

Wolf E. Regener+1 (805) 484-3613
Email:investorrelations@bnkpetroleum.com
Website:www.bnkpetroleum.com
 
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