BNK Petroleum Inc. announces that it has filed the paperwork necessary to relinquish the Slupsk concession in the Baltic Basin of Poland and intends to shutdown all operations in Poland.

The well tested a Rotliegend sandstone target located in the Fences license approximately 15 kilometers northwest of the producing wells at Lisewo-1 and 2.

BNK Petroleum provided the following map outlining drilling activities in the Poland Shale up to August 2015.

Based on this apparent interest, the Company commenced a process with its financial advisor to identify and engage with additional parties that have expressed interest.

The well is a planned test of a Rotliegend sandstone target at a projected depth of 3660 meters.

The company cited disappointing results as the reason behind the decision.

This compares to a net loss of $1.0 million, or $(0.02) per share, for the first quarter of 2014.

This compares to 4,441 Mmcfe (12.2 Mmcfed) during 2013, an increase of 2%.

A drill stem test (DST) in the Rotliegend sandstone reservoir produced only brine and the well will be plugged and abandoned.