BNK Petroleum Inc. Announces Acreage in New Basin

CAMARILLO, California, April 12, 2011 - BNK Petroleum Inc. (the "Company") (TSX: BKX) announced today
that its wholly owned subsidiary Trofagas Hidrocarburos, S.L., has been
awarded an oil and gas concession in the Autonomous Community of Cantabria,
Spain totalling approximately 61,470 acres. This concession brings the
Company's total acreage in Europe to about 3.6 million net acres in 5
separate basins.

This new concession located in the Cantabrian basin of Spain
was acquired for a shale gas target. The Concession contains certain minimum
requirements, which 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, drilling one vertical well each in years two, four,
five and six.

Wolf E. Regener, BNK's President and CEO, commented, "We are
very pleased that we have been granted our first concession in Spain and are
encouraged by the data we have gathered over the last two years. The shale
gas data collected in Spain looks very promising. We look forward to
developing shale gas in Spain both for our shareholders and the country of
Spain."

Poland

The Company also announced today that the Lebork S1 well on
the Slupsk Concession is currently drilling at 3,517 meters, with over 220
meters of core taken. The core will be analyzed over the coming weeks. The
Company anticipates that it will complete drilling and logging in the next
week, at which time it will release an update with the available data. The
majority of the analyses of the sidewall cores from the Wytowno #1 well are
expected back from the subcontractor in May. The 1st well on the Starogard
concession is expected to begin drilling sometime in June.

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 information regarding the Company's current plans
and expectations regarding the Lebork S1 well and Wytowno #1 well, including
as to expected timing of availability of data and analyses and anticipated
commencement of drilling of the first well on the Starogard concession.
Forward-looking information is based on plans and estimates of management at
the date the information is provided and is subject to certain factors and
assumptions of management, including that no unforeseen delays, unexpected
geological or other effects, equipment failures, permitting delays, labor or
contract disputes are encountered as well as that the Company's the financial
condition and development plans of the Company and its co-venturers will not
change. 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 occurrences such as those referred to above may occur and
result in delays, or cessation in planned work, and that the Company's
financial condition and development plans of the Company or the other
participants in the concessions will change as well as the other risks and
uncertainties applicable to exploration activities and to the Company 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 . The Company undertakes no obligation to
update these forward-looking statements, other than as required by applicable
law.

About BNK Petroleum Inc.

BNK Petroleum Inc. is a U.S. based international oil and gas
exploration and production company, focused on finding and exploiting large,
predominately unconventional oil and gas resource plays. Through various
affiliates and subsidiaries, the Company owns and operates shale gas
properties and concessions in the United States, and Europe. Additionally the
Company is utilizing its technical and operational expertise to identify and
acquire additional unconventional projects outside of North America. The
Company's shares are traded on the Toronto Stock Exchange under the stock
symbol BKX.

    For further information, contact:

    Wolf E. Regener +1-805-484-3613
    Email: investorrelations@bnkpetroleum.com
    Website: www.bnkpetroleum.com

    760 Paseo Camarillo, Suite 350
    Camarillo, California 93010
    Phone: +1-805-484-3613
    Fax: +1-805-484-9649

For further information, contact: Wolf E. Regener +1-805-484-3613, Email: investorrelations at bnkpetroleum.com; 760 Paseo Camarillo, Suite 350, Camarillo, California 93010, Phone: +1-805-484-3613, Fax: +1-805-484-9649