CAMARILLO, California,
September 27, 2017 /PRNewswire/
--
BNK Petroleum Inc. (the "Company") (TSX: BKX) is
pleased to announce the completion of the fracture stimulation of
the Brock 9-2H well (100% working interest) which is located in
BNK's Tishomingo field, in the
SCOOP region of Oklahoma.
The fracture stimulation was successful, with 13.5 million
pounds of proppant, or over 2,650 pounds per foot placed, on time
and under budget.
The next step is to drill out the plugs and then begin the
flowback of the well. The Company expects to have stabilized
rates by the last week of October.
Commenting on the announcement, Wolf
Regener, President and CEO, said "Our operations team has
once again performed very well and delivered an excellent fracture
stimulation. We eagerly await the flowrates from the
well."
About BNK Petroleum Inc.
BNK Petroleum Inc. is an international oil and gas
exploration and production company focused on finding and
exploiting large, predominately unconventional oil and gas resource
plays. Through its subsidiaries, the Company owns and operates
shale oil and gas properties in the
United States. Additionally, the Company is utilizing its
technical and operational expertise to identify and acquire
additional unconventional projects. The Company's shares are traded
on the Toronto Stock Exchange under the stock symbol BKX and on the
OTCQB under the stock symbol BNKPF.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release constitute
"forward-looking information" as such term is used in applicable
Canadian securities laws, including statements regarding the timing
of and expected results from planned Caney wells development.
Forward-looking information is based on plans and estimates of
management and interpretations of data by the Company's technical
team at the date the data is provided and is subject to several
factors and assumptions of management, including
that that indications of early results are
reasonably accurate predictors of the prospectiveness of the shale
intervals, that required regulatory approvals will be available
when required, that no unforeseen delays, unexpected geological or
other effects, including flooding and extended interruptions due to
inclement or hazardous weather conditions, equipment failures,
permitting delays or labor or contract disputes are encountered,
that the development plans of the Company and its co-venturers will
not change, that the offset operator's operations will
proceed as expected by management, that the demand for
oil and gas will be sustained, that the Company will continue to be
able to access sufficient capital through financings, farm-ins or
other participation arrangements to maintain its projects, and that
global economic conditions will not deteriorate in a manner that
has an adverse impact on the Company's business, its ability to
advance its business strategy and the industry as a
whole. Forward-looking information is subject to a
variety of risks and uncertainties and other factors that could
cause plans, estimates and actual results to vary materially from
those projected in such forward-looking information.
Factors that could cause the forward-looking information in this
news release to change or to be inaccurate include, but are not
limited to, the risk that any of the assumptions on which such
forward looking information is based vary or prove to be invalid,
including that the Company or its subsidiaries is not able for any
reason to obtain and provide the information necessary to secure
required approvals or that required regulatory approvals are
otherwise not available when required, that unexpected geological
results are encountered, that equipment failures,
permitting delays or labor or contract disputes or shortages are
encountered, the risks associated with the oil and gas
industry (e.g. operational risks in development, exploration and
production; delays or changes in plans with respect to exploration
and development projects or capital expenditures; the uncertainty
of reserve and resource estimates and projections relating to
production, costs and expenses, and health, safety and
environmental risks, including flooding and extended interruptions
due to inclement or hazardous weather conditions), that
the offset operator's operations have unexpected adverse effects on
the Company's operations, that completion techniques
require further optimization, that production rates do not match
the Company's assumptions, that very low or no production rates are
achieved, that the Company is unable to access required capital,
that occurrences such as those that are assumed will not occur, do
in fact occur, and those conditions that are assumed will continue
or improve, do not continue or improve, and the other risks and
uncertainties applicable to exploration and development activities
and the Company's business as set forth in the Company's management
discussion and analysis and its annual information form, both of
which are available for viewing under the Company's profile
at http://www.sedar.com, any of which could
result in delays, cessation in planned work or loss of one or more
concessions and have an adverse effect on the Company and its
financial condition. The Company undertakes no obligation to update
these forward-looking statements, other than as required by
applicable law.
Wolf E. Regener, +1 (805)
484-3613, Email: investorrelations@bnkpetroleum.com, Website:
http://www.bnkpetroleum.com