CAMARILLO, CA, Sept. 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
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.
SOURCE BNK Petroleum Inc.