BNK Petroleum Inc. Announces Annual General Meeting Date and Operations Update
California (ots/PRNewswire)
TSX ticker symbol; BKX
BNK Petroleum Inc. (the "Company" or "BNK") is pleased to announce that its 2013 Annual General Meeting will be held on July 19. The meeting had originally been scheduled for June 10.
At the meeting, in addition to the regular annual meeting business shareholders will be asked to approve ordinary resolutions approving an Advance Notice Policy and Restricted Share Unit Plan for the Company and minor alterations to the Company's Articles to permit the Company to use the "notice-and-access" delivery of materials to shareholders for future meetings, which was recently implemented under applicable securities laws. Details of the business to be considered at the meeting will be provided in the information circular and other materials for the meeting, which are expected to be mailed to shareholders and filed on SEDAR on or about June 24. The Company's Advance Notice Policy is available on the Company's website and will also be attached as a schedule to the information circular.
Operations Update
The Company, through its wholly owned subsidiary BNK Petroleum (US) Inc, is drilling the lateral portion of the Dunn 2-2H well in the Caney formation in the Tishomingo Field, Oklahoma. The fracture stimulation of the Barnes 6-3H well, also in the Caney formation, was started later than anticipated due to weather. It is expected that the stimulation will be finished in the next week. Results from the Barnes 6-3H well are anticipated in the next 3-4 weeks.
About BNK Petroleum Inc.
BNK Petroleum Inc. is an 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, Spain 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.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws, including statements regarding the Company's Annual General Meeting and Caney formation wells development. Forward-looking information is based on plans and estimates of management and interpretations of exploration information by the Company's exploration team at the date the information is provided and is subject to several factors and assumptions of management, including that that that required regulatory approvals will be available when required, that that no unforeseen delays, unexpected geological, weather or other effects, equipment failures, permitting delays or labor or contract disputes are encountered, that the development plans of the Company and its co-venturers will not change, that the demand for oil and gas will be sustained, that the Company will continue to be able to access sufficient capital through financings, farm-ins or other participation arrangements to maintain its projects, and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business, its ability to advance its business strategy and the industry as a whole. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward looking information is based vary or prove to be invalid, including that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected delays, geological, weather or other effects or conditions, equipment failures, permitting delays or labor or contract disputes are encountered, that completion techniques require further optimization, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company's business as set forth in the Company's management discussion and analysis and its annual information form, both of which are available for viewing under the Company's profile at http://www.sedar.com, any of which could result in delays, cessation in planned work or loss of one or more concessions and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
For further information: Wolf E. Regener, +1(805)484-3613 Email: investorrelations@bnkpetroleum.com Website: http://www.bnkpetroleum.com
(BKX.)