BNK Petroleum Inc. Wins Sixth European Shale Gas Concession

BNK Petroleum Inc. continues to add to its landholding with the grant of an additional 300,000 acre oil and gas concession in a European Union country. The granting of this concession brings BNK's 2009 total land acquisitions in Europe to 1.4 million acres.

In accordance with the granting of this latest concession, certain minimum requirements must be fulfilled by BNK to retain its interest. Some of the more significant minimum requirements consist of conducting geological work in the first year, acquiring seismic in the second year, drilling one vertical well in both years three and four, and the drilling of one horizontal well in year five within each concession area.

BNK was awarded it's first European concessions for shale gas, which were in Poland, in June 2009.

Source: BNK Petroleum Inc.