BNK Petroleum Inc. Announces Lebork S-1 Drilling Results

CAMARILLO, California, April 26, 2011 - BNK Petroleum Inc. (the "Company") (TSX: BKX), announced today that the
Lebork S-1 well, on the Slupsk concession in Poland, in which the Company has
an indirect 26.69% interest, has been drilled, cased and cemented to its
total depth of 3,590 meters. The well was originally drilled to 3,517 meters
and 223 meters of whole core were recovered. At that time a full suite of
logs were run. After evaluation of the logs it was decided to deepen the well
to its final depth of 3,590 meters, after which another full suite of logs
were run and 113 sidewall cores were taken over the additional interval
drilled.

The whole core and sidewall cores were taken to fully evaluate the
physical parameters of the rock. These analyses will provide, among other
data: porosity, permeability, total organic carbon, rock eval pyrolysis,
thermal maturity, gas composition, micropaleontology, and mechanical
properties. During drilling, numerous gas shows were recorded over 285 meters
of the Lower Silurian, Ordovician and Cambrian shales. The gas shows
consisted of mainly methane gas. The strongest gas shows were in the Cambrian
shale though gas shows in the other intervals may have been diminished due to
whole coring of the other intervals.

Consistent with projections, the two primary shale target intervals were
thicker in the Lebork S-1 well than in the Wytowno #1 well. The Ordovician
shale interval in the Lebork S-1 well is approximately 91 meters thick, which
is slightly thicker than the 83 meters found in the Wytowno #1 well. The
Cambrian shale also thickened to 15 meters from the 9 meters found in the
Wytowno #1 well. This provides further support for the Company's hypothesis
of an increasing thickness trend that may continue into deeper portions of
the basin.

The Company anticipates receiving all core analysis back by the 3rd
quarter. Analyses of the sidewall cores from the Wytowno #1 well are still
pending. The suite of Schlumberger open hole logs that were run in the Lebork
S-1 well will be calibrated using the core data to more precisely evaluate
the potential pay sections. The log suite in the Lebork S-1 well currently
calculates the highest gas and best properties in the Cambrian shale interval
followed by the Ordovician shale interval. The uncalibrated log suites of
both wells currently indicate higher gas calculations in the Ordovician
interval in the Lebork S-1 well than in the Wytowno #1 well, which may change
after the logs are calibrated. During the 3rd quarter it is anticipated that
the completion will be designed and the first intervals in each well will be
fracture stimulated.

The cost of the Lebork S-1 well at rig release, with casing in the ground
and including the additional deepening, sidewall cores and second set of logs
is to date approximately US$5.6 million. The current estimated cost of the
Lebork S-1 well, before completion, but including all future core analysis
work, is US$6.5 million. Despite the unanticipated deepening of the well, the
total drilling costs are only US$0.1 million above the original drilling
budget. The drilling rig will stay on location until the end of May at which
time it will begin mobilizing to the Starogard concession to begin drilling
the first well on that concession in mid June.

The Wytowno #1, Lebork S-1 and Starogard wells are being drilled by one
of the Company's subsidiaries as Manager for Saponis Investments Sp z o.o..
The Company owns approximately 26.7 per cent of Saponis with remaining
ownership with Rohöl-Aufsuchungs Aktiengesellschaft,("RAG") Sorgenia E&P SpA
and LNG Energy through its subsidiary. The Company is obliged to pay
approximately 6.69 per cent of the drilling costs of these first three wells.
The other 20 per cent of the Company's share is paid by RAG and Sorgenia
under the terms of the Company's farmout to RAG and Sorgenia. The Company
holds 195,000 net acres in the Baltic Basin of Poland through Saponis and a
further 880,000 adjacent net acres through another European subsidiary.

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 but not limited to information regarding the
Company's current plans and expectations regarding the Wytowno #1 and Lebork
S-1 wells, including expected timing of results of core and log analyses, the
Company's hypotheses regarding the geology of the basin in which drilling is
currently underway, expected timing of commencement of the planned frac
programs, commencement of the first well on the Starogard concession and
expectations regarding the total cost of the wells. 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 Wytowno #1, Lebork S-1 and Starogard wells will change as
well as other risks typically associated with joint ventures with third
parties and 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, Poland, Germany and Spain. 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:

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

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