BNK Petroleum inc. Announces Wytowno Drilling Results

CAMARILLO, California, February 16, 2011 - BNK Petroleum Inc. (the "Company") (TSX: BKX) announced today that the
Wytowno #1 well, on the Slawno concession in Poland, has been drilled to
3,580 meters and is being prepared to have casing run and cemented to total
depth. During drilling, numerous gas shows were recorded over 220 meters of
the Lower Silurian, Ordovician and Cambrian shales and a further 450 meters
of gas shows were recorded in the middle and upper Silurian shale. The
strongest gas shows were encountered in the Ordovician shale. The gas shows
consisted of mainly methane, with a small percentage of ethane and propane.

The Ordovician shale interval in the Wytowno #1 well is approximately 83
meters thick and represents a thicker section than seen in previous wells
drilled in updip, structurally higher positions. This suggests an increasing
thickness trend that may continue into deeper portions of the basin.
Approximately 200 sidewall cores have been 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.

The Company estimates that it will take about 45 days to receive the
results of these analyses from the subcontractors. The suite of Schlumberger
open hole logs that were run in the Wytowno #1 well, will be calibrated using
the data to more precisely calculate the potential pay sections. The log
suite currently calculates the highest gas and best properties in the
Ordovician shale interval. In addition IsoTube and IsoJar samples were taken
which will allow verification of the thermal maturity.

In early April all data analysis for the completion should be finished
and the fracture stimulation will be designed. The Company anticipates being
able to fracture stimulate the first interval in the Wytowno #1 well and
provide results during the second quarter.

At a current estimated cost of US$6 million, which includes estimated
costs to run and cement the production casing, the well will be drilled on
budget. Once casing has been run and cemented in the Wytowno #1 well, the rig
will mobilize over to the Lebork location, on the Slupsk concession to
immediately begin drilling operations. The Lebork location has already been
completed and all permits are in place. The Lebork #1 well is located
approximately 26 kilometers from Lane Energy/Conoco's Lebien LE1 well. The
Wytowno #1 and Lebork #1 wells are being drilled by Saponis Investments Sp Z
o.o. where the Company is Manager. The Company owns 26.6 per cent of Saponis,
and the rest of Saponis is owned by Rohöl-Aufsuchungs Aktiengesellschaft
(RAG), Sorgenia E&P SpA and by LNG Energy through a subsidiary. The company
is obliged to pay approximately 6.6 per cent of the drilling costs of these
first two wells, with the other 20 per cent of the company's interest being
paid by RAG and Sorgenia under the terms of the company's farm-out to RAG and
Sorgenia. The company holds 195,000 net acres in Poland through Saponis and a
further 880,000 adjacent net acres through another European subsidiary.

Wolf Regener, CEO of the Company, stated, "We are pleased with the
initial log analysis and the gas shows in the Wytowno #1 well. We look
forward to the analysis of all the data to identify the intervals to be
tested so that we can attempt to prove that gas can be liberated from the
Polish shales in this wellbore."

Germany

The Company is currently awaiting the analysis of the samples that were
collected in the second phase of field work, which was completed during the
quarter of 2010. Additionally, the bidding process has been initiated for
seismic operations planned for the second half of 2011. The Company expects
to acquire between 30 and 50 kilometers of 2D seismic on each of the 6
concession blocks. The first seismic to be acquired will likely be in the
North Rhine Westfallia blocks on acreage offsetting Exxon. The Company's 2.4
million acres in Germany were acquired primarily for shale gas, but some of
the blocks also have secondary potential for tight gas sands and Coal Bed
Methane.

Alabama

In Alabama the Company has completed testing of its WS Lee well without
economic quantities of gas being produced. The well is being plugged and
abandoned.

Financials

The Company will be releasing its year end financials and its 2010 year
end reserve report on or about March 25th, 2011.

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 Wytowno #1 well, including timing of
commencement planned frac program, expectation that cost of well will be
within budget, plans to acquire 2D seismic and timing regarding same and
expected timing of release of year end financial and reserves information.
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 well 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, Poland and Germany. 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

For further information: Wolf E. Regener +1(805)484-3613, Email: investorrelations at bnkpetroleum.com