Mr. Wolf Regener reports

BNK PETROLEUM INC. ANNOUNCES 2014 YEAR-END RESERVES

BNK Petroleum Inc. is providing the results of its Dec. 31, 2014, independent reserves evaluation.

The evaluation of the company's reserves in the Caney formation of the Tishomingo field in Oklahoma was conducted by Netherland Sewell and Associates Inc. in accordance with National Instrument 51-101 (standards of disclosure for oil and gas activities).

Gross reserves summary in 2014:

• Total proved reserves of 12 million barrels of oil equivalent, an increase of 197 per cent over the Dec. 31, 2013, estimate;
• Proved plus probable reserves of 37.4 million boe, an increase of 140 per cent over the Dec. 31, 2013, estimate;
• Proved plus probable plus possible reserves of 70.3 million boe, an increase of 72 per cent over the Dec. 31, 2013, estimate.

Net present value of reserves discounted at 10 per cent:

• Total proved reserves before tax of $142.9-million (U.S.);
• Proved plus probable reserves before tax of $504.5-million (U.S.);
• Proved plus probable plus possible reserves before tax of $875-million (U.S.).

The above total proved reserves are attributed to 10 of the wells already drilled and the drilling of 28.9 net additional wells over the next five years. The probable reserves are attributed to one well already drilled, which is awaiting completion, and the drilling of 28.3 net additional wells. The wells in this report are planned at 106-acre spacing (six wells per section) on approximately 10,900 net acres. This is approximately 67 per cent of the 16,300 net acres the company has in this project. The other 33 per cent of the acreage is on the easterly side of the company's acreage and based on data from the company's historical drilling of the deeper Woodford formation wells, correlated with a 3-D seismic survey. The company anticipates that future wells on its easterly acreage will demonstrate that the Caney is also productive over this easterly acreage.

                                                                                                                                                           
                                   SUMMARY OF OIL AND GAS RESERVES    

                                                  Light and medium oil             Natural gas                 
Reserve category                            BNK gross (Mbbl)    Net (Mbbl) BNK gross (MMcf)  Net (MMcf)
Proved
Developed producing                                 1,126.7         874.3          1,510.8     1,177.4
Developed non-producing                               256.5         199.5            197.5       153.6
Undeveloped                                         7,501.7       5,853.4          6,642.7     5,183.2
Total proved                                        8,884.9       6,927.3          8,351.0     6,514.2
Probable                                           19,130.1      15,043.1         17,109.5    13,453.9
Total proved plus probable                         28,015.0      21,970.3         25,460.5    19,968.1
Possible                                           24,855.5      19,899.6         22,190.3    17,762.7
Total proved plus probable plus possible           52,870.5      41,869.9         47,650.8    37,730.8

                                                Natural gas liquids                    Mboe                       
Reserve category                           BNK gross (Mbbl)   Net (Mbbl)  BNK gross (Mbbl)   Net (Mbbl)
Proved
Developed producing                                  302.2        235.5           1,680.7      1,306.0
Developed non-producing                               39.5         30.7             328.9        255.8
Undeveloped                                        1,328.5      1,036.6           9,937.4      7,754.0
Total proved                                       1,670.2      1,302.9          11,946.9      9,315.8
Probable                                           3,421.9      2,690.8          25,403.6     19,976.2
Total proved plus probable                         5,092.1      3,993.6          37,350.5     29,292.0
Possible                                           4,438.1      3,552.5          32,991.9     26,412.6
Total proved plus probable plus possible           9,530.2      7,546.2          70,342.4     55,704.6

                          NET PRESENT VALUE OF FUTURE NET REVENUE     

                                                   Net present value of future net revenue ($ millions)      
                                                     Before income tax                  After income tax             
Reserve category                               0%      5%    10%   15%  20%       0%      5%   10%   15%   20%
Proved
Developed producing                        $60.8   $49.1  $41.4 $36.1 $32.1   $60.8   $49.1 $41.4 $36.0 $31.9
Developed non-producing                     12.3     9.7    8.1   6.9   6.0    12.3     9.7   8.1   6.9   6.1
Undeveloped                                249.3   150.6   93.4  58.0  35.0   161.9    98.2  59.8  35.6  19.4
Total proved                               322.4   209.4  142.9 100.9  73.1   235.0   157.0 109.3  78.4  57.4
Probable                                 1,132.8   596.8  361.6 239.6 168.8   747.6   422.4 259.5 171.3 120.0
Total proved plus probable               1,455.2   806.1  504.5 340.6 241.9   982.6   579.4 368.8 249.7 177.4
Possible                                 1,681.1   718.0  370.5 217.4 139.9 1,109.5   510.0 261.3 148.6  92.9
Total proved plus probable plus possible 3,136.3 1,524.1  875.0 557.9 381.8 2,092.1 1,089.4 630.1 398.3 270.3

All dollar values are expressed in U.S. dollars.

We seek Safe Harbor.