BNK Petroleum Inc. - Announces 2016 Year-End Reserves

Camarillo, California (ots/PRNewswire) - BNK Petroleum Inc. (the
"Company" or "BNK") (TSX: BKX), is providing the results of its
December 31, 2016 independent reserves evaluation.

The evaluation of the Company's reserves in the Caney formation of
the Tishomingo Field in Oklahoma was conducted by Netherland, Sewell
& Associates, Inc. ("NSAI") in accordance with National Instrument
51-101 - Standards of Disclosure for Oil and Gas Activities.

2016 Gross Reserves Summary

- Total Proved Reserves 18 million Barrels of oil equivalent (BOE) -
an increase of 1% over the December 31, 2015 estimate
- Proved plus Probable Reserves 42 million BOEs - an increase of 2%
over the December 31, 2015 estimate
- Proved plus Probable plus Possible Reserves 66.5 million BOEs - a
decrease of 4% from the December 31, 2015 estimate

Net Present Value of Reserves discounted at 10%

- Total Proved Reserves before tax of U.S. $149.9 million
- Proved plus Probable Reserves before tax of U.S. $370.7 million
- Proved plus Probable plus Possible Reserves before tax of U.S.
$695.4 million

The above total Proved reserves are attributed to 11 of the Caney
wells already drilled, four Woodford wells (4.9% working interest for
the Company) and the drilling of 32.7 net additional wells over the
next 5 years. The Probable reserves are attributed to the drilling of
40.99 net additional wells. The wells in this report are planned at
107 acre spacing (6 wells per section) on approximately 11,448 net
acres. This is approximately 69 percent of the 16,650 net acres the
Company has in this project. The other 31 percent of the acreage is
on the easterly side of the Company's acreage and based on data from
the Company's historical drilling of the deeper Woodford formation
wells, correlated with a 3D seismic survey, the Company anticipates
that future wells on its easterly acreage will demonstrate that the
Caney is also productive over this easterly acreage.

Wolf Regener, President and CEO commented. "We are very pleased
with the way our existing wells are performing. The estimated
ultimate recovery from the existing wells increased by 1.2 million
barrels of oil equivalent (BOE), as the existing producing wells once
again exceeded the previous year forecast. Our Proved and Probable
reserves increased this year as well. These increases do not
incorporate any of the wells from our 2017 drilling program, which
started in the 3rd week of December 2016. The Company expects these
wells to further increase the Proved and Probable reserves, once the
wells are brought online and a new reserve report is generated."