HISTORY - U.S. 1st Qtr 2013 4th Qtr 2014 Product Split * Product Split * 15% Tishomingo Shale Project Sold 42% 43% Oil Gas NGLs 14% 15% 71% Oil Gas NGLs 18.9 netbacks ** 41 netbacks ** BNK has been operating shale…
TISHOMINGO FIELD (Ardmore Basin - Oklahoma, USA) Caney/Sycamore Lime is present over BNKs Text BNK Operated Caney well BNK Previously operated Woodford well entire acreage block BNK held by production acreage 16,300 net acres BNK…
TISHOMINGO RESERVES (Pre-Tax Numbers - Ardmore Basin - Oklahoma, USA) NI-51-101 Reserve Report - BNK Interest Forecast Price 10% Discount Case Woodford Shale Caney Reserves Caney Reserves December 31, 2011 December 31, 2013 December…
TISHOMINGO FIELD (Ardmore Basin - Oklahoma, USA) 2014 Year End Reserve Report Text BNK Operated Caney well BNK Previously operated Woodford well Started completion 37.4 million gross BOEs 2P * BNK held by production acreage…
EUROPEAN PROJECTS - BNK has been operating in Europe for over 4 years - Gas prices +9/mcf - Government takes are comparable or less than U.S. - Key to advancing projects is focusing on environment, government and local community…
PLAY COMPARISON Poland Shale U.S. Caney Project Poland Old*** Spain Gas*** Royalties 18% - 20% 1% 1.5% 0% Gas Prices (approx) 3.50 9.50* 8.60** 19% + SHT (0% - 25%) Corporate Tax Rate 35% 19% 35-40% depending on R factor…
SPANISH PROJECT (heart of Jurassic play in Castilla y Leon) Cantabria Pais Vasco Castilla y Leon Urraca Concession Sedano Navarra Concession BNK Concession BNK Application Rojas Existing Concessions Trofagas…
BNK JURASSIC SHALE PROJECT 100-200 meter thick Jurassic shale Carbonate 2,500 - 4,500 meter depth Thick black shales Gas & Oil shows in shale and fractured carbonates in Carbonate existing wells Structure defined by numerous 2D…
POLAND PROJECTS Strzezewo -1 Lublewo LEP-1 Lebien 1 & Warblino 2H wells Lubocino Lebork S-1 well - Attempted stimulation 4th qtr 2011 3Legs / PGNiG Drilled Wytowno 1 well 1H well well without placing enough proppant. No Effective…
SUMMARY - 3 high impact projects - Caney shale oil production growth potential in Tishomingo field - Polish shale gas project - Spanish shale gas and oil project - Experienced Shale Gas team selecting and operating projects -…
760 Paseo Camarillo, Suite 350 Camarillo, California 93010 Phone 805-484-3613 www.bnkpetroleum.com Stock ticker BKX on Toronto Stock Exchange 18