BNK Petroleum Inc. reports a 31% increase in the estimated net present value of future net revenue (before tax, discounted at 10%) of its Tishomingo shale gas field proved and probable reserves, to US$315 million from US$241 million at 2009 year-end. Proved and probable reserves increased to 39.7 million boe from 37.9 million boe at 2009 year-end, a 5% increase.

Poland The second well, Lebork #1 on the Slupsk concession in Poland began drilling on March 11, 2011 and drilling is anticipated to finish around the end of April, 2011. The Company expects to receive the analysis from the sidewall cores taken in the Wytowno #1 well in April, following which the designing of the fracture stimulation program for the Wytowno #1 well will begin. The possibility of achieving project efficiencies by performing back-to-back fracture stimulations on the Lebork #1 and the Wytowno #1 wells is currently being evaluated.

The Wytowno #1 and Lebork #1, wells are being drilled by Saponis Investments Sp z o.o., in which the Company has an indirect 26.67% interest and is Manager.

The 2009 and 2010 year-end Tishomingo Field reserves estimates were prepared by MHA Petroleum Consultants, LLC. independent petroleum engineering consultants of Lakewood, Colorado.

Tags: BNK Petroleum