CAMARILLO, California, Dec. 3, 2018 /PRNewswire/ -- BNK
Petroleum Inc. (the "Company" or "BNK") (TSX: BKX) is pleased to announce that the Brock 4-2H (77% working
interest) has been successfully fracture stimulated on budget and the Anderson 1-15H10X3 (BNK 33% working interest) is currently
being fracture stimulated. These wells are both located in the Tishomingo field, in the SCOOP region of Oklahoma.
The Company operates the Brock 4-2H well and plans to begin flowing back the fracture stimulation fluid on the
Brock 4-2H well after the 2 mile long Anderson well has been fracture stimulated. It is anticipated that we will have preliminary
flowrates from both wells before the end of the year.
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 its subsidiaries, the Company owns and operates shale oil
and gas properties in the United States. 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 and on the OTCQX under the stock symbol BNKPF.
Cautionary Statements
In this news release and the Company's other public disclosure: The references to barrels of oil equivalent ("Boes")
reflect natural gas, natural gas liquids and oil. 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. Given that the value ratio based on the current price of crude oil as compared to
natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be
misleading as an indication of value. 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 proved
plus probable plus possible reserves. Readers should be aware that references to initial production rates and other
short-term production rates are preliminary in nature and are not necessarily indicative of long-term performance or of ultimate
recovery. Readers are referred to the full description of the results of the Company's December 31,
2017 independent reserves evaluation and other oil and gas information contained in its Form 51-101F1 Statement of
Reserves Data and Other Oil and Gas Information for the year ended December 31, 2017, which the
Company filed on SEDAR on March 14, 2018. Netback per barrel, net operating income and funds from operations
(collectively, the "Company's Non-GAAP Measures") are not measures recognized under Canadian generally accepted accounting
principles ("GAAP") and do not have any standardized meanings prescribed by GAAP. The Company's Non-GAAP Measures are
described and reconciled to the GAAP measures in the management's discussion and analysis which are available under the Company's
profile at www.sedar.com.
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 the timing of and expected results from planned Caney wells
development, production and estimated netbacks. Forward-looking information is based on plans and estimates of management
and interpretations of data by the Company's technical team at the date the data 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 required regulatory approvals will be available when required, that no unforeseen
delays, unexpected geological or other effects, including flooding and extended interruptions due to inclement or hazardous
weather conditions, 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 offset operator's operations will proceed as expected by
management, that the demand for oil and gas will be sustained, that the price of oil will be sustained or increase, 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 or that
required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that
equipment failures, permitting delays or labor or contract disputes or shortages are encountered, the risks associated
with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with
respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and
projections relating to production, costs and expenses, and health, safety and environmental risks, including flooding and
extended interruptions due to inclement or hazardous weather conditions), that the offset operator's operations have unexpected
adverse effects on the Company's operations, 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 price of oil will decline, 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.
Wolf E. Regener, +1 (805) 484-3613, Email: investorrelations@bnkpetroleum.com, Website: www.bnkpetroleum.com