BNK PETROLEUM INC. ANNOUNCES CLOSING OF SECOND TRANCHE OF $66 MILLION PRIVATE
PLACEMENT

CAMARILLO, CA, Nov. 8 /CNW/ - BNK Petroleum Inc. (the "Company") (TSX: BKX) is pleased to announce that the second and final tranche of the previously announced CAD$66 million private placement has closed.  15,400,000 shares were issued to Quantum Partners L.P. ("Quantum") for total gross proceeds of CAD$39,116,000. The shares are subject to a four month hold period.  Quantum now holds approximately 19.5% of the Company's issued and outstanding shares.

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 President and Chief Executive Officer                                          [phone]
Email: [email protected]
Website: www.bnkpetroleum.com