Bnk Pete Inc (BNKPF)

BNK Petroleum Inc was incorporated under the Business Corporations Act "British Columbia" on May 26, 2008. The Company's business activities include exploration, development, production and marketing of crude oil, natural gas and natural gas liquids. It has drilled a horizontal lateral in Poland and plans to fracture stimulate the well in an attempt to prove the viability of its project in the Baltic Basin. Its Tishomingo Field activities produce oil, gas and natural gas liquids. Oil is sold to a single purchaser and transported by truck. Natural gas and natural gas liquids are sold pursuant to a contract or gathering agreement that was entered into as part of the Woodford Sale. The Company competes for leases in the shale gas and oil basins in which it is active in the U.S. and in Europe with a number of private and public companies which may have greater financial resources, staff and facilities than the Company. It also competes with other industry participants for raw materials, drilling rigs and other equipment, component parts and services required for petroleum and natural gas exploration and development. The Company's operations are subject to environmental regulations including, regular environmental impact assessments and permitting, in the jurisdictions in which the Company operates.