Business
BNK Petroleum Inc. acquires 720,000 acres in Poland
CALGARY, June 29 /CNW/ - BNK Petroleum Inc. (the Company)/(TSX: BKX) is pleased to announce on be...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\n\nCALGARY, June 29 /CNW/ - BNK Petroleum Inc. (the Company)/(TSX: BKX) is\npleased to announce on behalf of its Polish subsidiary, Saponis Investments\nSp. z o.o. that it has been awarded three oil and gas exploration concessions\nin Poland by the Ministry of Environment. The three concessions, Starogard,\nSlupsk and Slawno, are located in Northern Poland and total about 720,000\nacres. BNK has an 80% working interest in each concession, assuming a\npreviously granted right to participate is exercised by a privately owned\nDelaware company as previously disclosed by BNK on December 3, 2008.\n\n\nBNK believes that the preliminary data it has analyzed, indicates that\nthe makeup of the some of the shales within its Polish Concessions, are silica\nrich and appear to have thermal maturities and total organic carbon in a range\nthat could make them successful shale gas projects. Over the coming months,\nBNK intends to do further work by analyzing cores from previously drilled\nwells to determine the first well location. BNK intends to drill its first\nwell in 2010. Each concession requires the spudding of a well within 18 months\nof the concession award date. BNK is entertaining partnerships for the\nexploration phase of this project.\n\n\nBNK is also undertaking geologic mapping and data acquisitions in other\nparts of Europe in order to evaluate additional opportunities.\n\n\nAbout BNK Petroleum Inc.\n\n\nBNK Petroleum Inc. is a California based oil and gas exploration and\nproduction company focused on finding and exploiting large oil and gas\nresource plays. The Company holds an average of 50% interest in the Tishomingo\ngas field in Oklahoma and varied interests in three other areas in the\nNorthern and Central regions of the United States, where it is currently\npursuing the exploration, development and production of shale and tight sand\ngas plays. The Company's shares are traded on the Toronto Stock Exchange under\nthe stock symbol BKX.\n\n\nThis document contains certain forward looking statements including\nstatements regarding BNK's working interest in the Polish drilling\nconcessions, the potential for the Polish drilling concessions to be\nsuccessful shale gas projects, its drilling plans for such concessions and\nfuture opportunities for acquisitions of additional oil and gas exploration\nrights in Europe. Forward...