Kolibri Global Energy Inc BNKPF

Great Drill Results for BKX

[mulliganforlife]

BNK PETROLEUM INC. DRILLS GLENN 16-2H UNDER BUDGET; SPUDS WLC 14-1H WELL CAMARILLO, CALIFORNIA, February 12, 2018 – BNK Petroleum Inc. (the “Company”) (TSX: BKX) is pleased to announce that the Company has drilled and set casing on the Glenn16-2H well and begun drilling the WLC 14-1H well in the Company’s Tishomingo Field. The Glenn 16-2H, which is located directly south of the Company’s Brock 9-2H well, was drilled and cased in 25 days. The drilling rig was moved 2 miles to the east and is drilling the WLC 14- 1H well (previously referred to as the Scott 14-2H). Fracture stimulation bids for the Glenn 16- 2H well have been received and the Company expects to select the service company shortly, after which the stimulation date will be determined. Wolf Regener, President and CEO commented “I am proud of our team that safely drilled the Glenn well in 25 days, which was 5 days less than our expected drilling time. This team includes our staff, consultants and quality service companies such as Power Drilling, LLC and Skyline Directional Drilling, LLC, who all played key roles in a full section treatable lateral being drilled under budget. The hydrocarbon shows recorded while drilling the lateral look comparable to our best wells. Based on everything we’ve seen, after fracture stimulation, we expect the Glenn to be another of our top performing wells. We are looking forward to the continued success of our drilling campaign as we push further east with the WLC 14-1H, which we believe will continue to increase our reserves and cash flow and demonstrate the repeatability of our results.

[himmler]

I would rather wait for the real drill results.as in numbers..Although they expect the same outflows from the Glen as the others,definative proof is always needed.But I do wonder what they mean by "selecting a service company"..I thought the whole future operation was in place..and in methodical order?..Wonder what happened.

[BrokerG]

They may now be in a position to illicit multiple bids this would reduce overall well costs. Previously they were just happy to get any service company. strenght in numbers. Yes you are correct himmler actual results are what matters As I mentioned before I am more interested in the WCL well (Scott) since this will prove up reserves and expand their drilling area

[BrokerG]

Strange that we have not heard about the service provider yet. I thought they were reviewing bids? Surely it does not take 3 weeks to review. 

[himmler]

What I find strange(in a good way) is that every single one of my oilcos were hammered today..except BKX