BNK Highlights Prospects at Gapowo B-1 well

BNK Petroleum has received gas in place estimates from third party contractors for its Gapowo B-1 well in Poland of up to 135 billion cubic feet per section. BNK's primary target interval, within the lower Silurian and Ordovician (110m gross) has gas in place estimates up to 86 BCF per section. The Gapowo B-1 well data has validated BNK's geologic model of increasing thickness and organic content over the Lower Silurian/Ordovician target interval as it moves into a more distal basinal setting. BNK hopes to achieve economic flow rates by drilling a lateral out of this wellbore due to the occurrence of very strong gas shows while drilling, good porosity, higher total organic content, over pressured shales, good permeability and gas in place estimates.

BNK is still awaiting the concession modification approval which is required for the re-entry of the Gapowo B-1 well to drill a horizontal leg to test these highly promising zones. BNK's application is progressing, and although it has not been provided a timeframe BNK expects to receive approval within a few months. In addition, discussions are continuing with multiple parties regarding farming into BNK's wholly owned concessions.