BNK Petroleum Inc's European Holdings Grow to 2.1 Million Gross Acres

CALGARY, January 26 - BNK Petroleum Inc. ("BNK" or the "Company") (TSX: BKX) is pleased to
announce that it has been awarded two additional oil and gas concessions,
which total approximately 770,000 acres net to BNK. These concessions were
granted in a European Union Country and bring BNK's total gross land
acquisitions in Europe to 2.1 million acres. This provides further
diversification by spreading the Company's projects across 4 basins. The
Company's strategy to evaluate acreage and deploy license applications
throughout Europe continues to make progress. The Company anticipates
spudding its first European operated well during the second quarter.

In accordance with the granting of these latest concessions, certain
minimum requirements 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, acquiring seismic in the second year, drilling one
vertical well in both years three and four, and the drilling of one
horizontal well in year five within each concession area.

In BNK's Tishomingo Woodford shale field, the remaining behind pipe
stages in two of the wells were fracture stimulated in the fourth quarter of
2009. In total, 15 gross stages, 4.6 net stages to BNK, were fracture
stimulated which helped BNK achieve a net 1,200 boe/day 2009 year end exit
rate from the field. This is a 22% increase from our third quarter 2009 net
rate of 981 boe/day. The two wells had combined 30 day average initial
production rates of approximately 1,100 boe/d which is about 400 boe/d net to
BNK. BNK has over 60 net stages remaining to fracture stimulate in its
previously drilled wells. These un-stimulated stages were not given any
credit in the previous reserve reports and BNK believes reserves will now be
attributed to them in its 2009 year-end report, which is anticipated to be
completed in the first quarter.

Caution Regarding Forward-looking Information

This document may contain certain forward looking statements including
statements with respect to the concessions awarded, the more significant
minimum requirements required to hold the concessions as well as information
regarding the remaining net stages which will require fracture stimulation on
previously drilled wells in the Tishomingo gas field and the resulting impact
on our 2009 year-end reserves report.. Forward looking information is based
on the opinions and estimates of management at the date the information is
provided and is subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking information. These risks include, but
are not limited to: the risks associated with the oil and gas industry and
BNK's ability to identify suitable drilling locations (e.g., operational
risks in development, exploration and production; delays or changes in plans
with respect to exploration or development projects or capital expenditures;
the uncertainty of reserve estimates; the uncertainty of estimates and
projections relating to production, costs and expenses, and health, safety
and environmental risks), risk associated with equipment procurement and
equipment failure, risks related to international operations and doing
business in foreign jurisdictions, the risk of commodity price and foreign
exchange rate fluctuations, risks related to future royalty rate changes and
risks and uncertainties associated with securing and maintaining necessary
regulatory approvals.

For a description of the risks and uncertainties facing BNK and its
business and affairs, readers should refer to BNK's Annual Information Form
for the year ended December 31, 2008, which is available at
www.sedar.com. The Company assumes no obligation to update or revise
the forward-looking information to reflect new events or circumstances,
except as required by law. The reader is cautioned not to place undue
reliance on forward-looking statements.

All references to barrels of oil equivalent (boe) are calculated on the
basis of 6 mcf : 1 bbl. This conversion is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead. Boes may be misleading,
particularly if used in isolation.

About BNK Petroleum Inc.

BNK Petroleum Inc. is a U.S. based oil and gas exploration and production
company focused on finding and exploiting large predominately unconventional
oil and gas resource plays. The Company holds and operates shale gas wells in
the Untied States. Additionally the company is utilizing its technical and
operational expertise to identify and acquire unconventional projects in
Europe. The Company's shares are traded on the Toronto Stock Exchange under
the stock symbol BKX.

NEITHER THE TSX EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

For further information: Wolf Regener, President and Chief Executive
Officer, +1-805-484-3613, Email: investorrelations@bnkpetroleum.com, Website:
www.bnkpetroleum.com

For further information: Wolf Regener, President and Chief Executive Officer, +1-805-484-3613, Email: investorrelations at bnkpetroleum.com