BNK awarded additional concessions in Poland

BNK Petroleum Inc. has announced  its European subsidiary,, Indiana Investments Sp. z o.o., has been awarded three oil and gas concessions in the Baltic Basin of Poland by the Ministry of Environment. The three concessions, Darlowo, Bytow and Trzebielino, were applied for in 2009 and total approximately 880,000 acres net to BNK.

The concessions are directly adjacent to BNK's Slawno and Slupsk concessions where BNK intends to drill its first well in late second or early third quarter of this year. This first well is part of the farm out whereby BNK is carried for all but 6.67% of the first $25 million spent on the project. The three new concessions bring BNK's acreage holdings in Europe to approximately 3 million gross acres and 2.65 million net acres. BNK stated that it continues to await the awarding of previously submitted applications and is continuing to apply for new concessions in other European basins.

Source: PR Newswire