March 22, 2010 (FinancialWire) — BNK Petroleum Inc. (TSX: BKX) said that, on behalf of one of its European subsidiaries, Indiana Investments Sp. z o.o. it has been awarded three oil and gas concessions in the Baltic Basin of Poland by that country’s ministry of environment.

The three concessions, Darlowo, Bytow and Trzebielino, were applied for in 2009 and total approximately 880,000 acres net to BNK. The concessions are directly adjacent to BNK's Slawno and Slupsk concessions where BNK intends to drill its first well in late second or early third quarter of this year.

According to the company, the first well is part of the farm out whereby BNK is carried for all but 6.67% of the first $25 million spent on the project.

The three new concessions bring BNK's acreage holdings in Europe to around three million gross acres and 2.65 million net acres. The company said it continues to await the awarding of previously submitted applications and is continuing to apply for new concessions in other European basins.

U.S.-based BNK Petroleum is an international oil and gas exploration and production company focused on finding and exploiting large, predominately unconventional oil and gas resource plays.

The company holds and operates shale gas wells in the United States. It also seeks to identify and acquire unconventional projects outside of North America.

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