BNK Petroleum reports 405-boed flowrate at Hartgraves 1-6H well in Oklahoma

9/5/2017

CAMARILLO, California -- BNK Petroleum Inc. has announced that the Hartgraves 1-6H well averaged about 405 boed, of which 324 bbl are oil, for the last six days, while still producing back completion fluid.

Commenting on the announcement, Wolf Regener, president and CEO, said, “We are very pleased with the flowrate from this well, which is currently above both the proved undeveloped and the probable case type curves used to estimate the reserves attributed to the Company’s Tishomingo field. The flowrate is within 12% of the possible type curve, and as the well continues to clean up we will continue to optimize it.

This well is on a trajectory to generate an attractive rate of return, even in this oil price environment. In addition, we anticipate an even shallower decline rate than our previous wells due to the large amount of proppant in the fracture stimulation.”

The Company also announces that fracture stimulation of the previously drilled Brock 9-2H well is scheduled to begin in the third week of September.

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