BNK Petroleum Inc. (TSX: BKX)

CALGARY, Sept. 18 /PRNewswire-FirstCall/ - BNK Petroleum Inc. (BNK) is pleased to announce its progress in the Tishomingo field drilling program.

    -   Drilled and set casing on 24 wells and has 4 wells still drilling. Of
        these wells, 24 are horizontal, 4 are vertical and BNK is operator of
        19 of them.
    -   Executed a letter of intent with Atlas Pipeline Mid-Continent, LLC
        (Atlas) for the purchase and processing of BNK's gas.
    -   Atlas installed a processing plant with a capacity of 15 million
        cubic feet a day (mmcf/d) currently constrained to 4 mmcf/d, by NGPL
        meter restriction.
    -   BNK to tie in the Tishomingo Field gathering system to Atlas' Velma
        to Madill wet gas gathering line. BNK intending on sending gas to
        Atlas' Velma Cryogenic processing plant in 1st quarter of 2009.
    -   Signed gas sales contract with Chesapeake Energy Marketing, Inc.
        (Chesapeake).
    -   1st gas scheduled to be delivered to Chesapeake by Sept 22nd 2008.
    -   NGPL meter restriction expected to be removed by October 1st 2008.

In summary there is currently about 29 mmcf/d of processing capacity for the Tishomingo Field available by next week with another 17 mmcf/d available once the NGPL meter upgrade is complete. With this processing capacity in place BNK can proceed to complete its wells and process the gas produced as the rest of the gathering system is installed to connect to all the wells in the field.

    -   Only six of the wells in the 2008 drilling program have been fracture
        stimulated.
    -   All wells to date have been facility constrained.
    -   The Dunn 2-1H, has produced over 155 (mmcf) of gas, 13,000 barrels of
        oil and approximately 7,700 barrels of Natural Gas Liquids (NGLS) to
        date.
    -   The Barnes 6-1H well has recovered about 33% of its fracture
        stimulation fluids, is producing about 60 barrels of oil per day
        (BOPD) and an unknown amount of gas.
    -   The Sapp 11-1H well is still recovering fracture stimulation fluids
        and does not have a production rate yet.
    -   The Barnes 7-1H well was tested with a modified fracture stimulation
        technique and tested only about one-third of the total horizontal
        wellbore.