BNK Petroleum provides update on Poland Gapowo B-1 well

BNK Petroleum

BNK Petroleum Inc. (TSX: BKX), through its wholly owned subsidiary Indiana Investments Sp. z o.o., has received additional data on the whole core from the Gapowo B-1 well in Poland.

The Gapowo B-1 core data in the table below validates the company's geologic model of increasing thickness and organic content over the Lower Silurian/Ordovician target interval.

 

Gapowo B-1 WELL

Target Interval

Thickness m *

110

Net thickness m *

54

Porosity %

3.9 - 6.1 (Avg 5.1)

TOC %

1.1 - 4.2 (Avg 2.5)

Silica/Carbonate

46%

Clay

43%

Other

11%

 * Does not include another 20m of prospective intervals where core data is not available

Detailed inspection of the whole core revealed numerous fractures, believed to be caused by the overpressure, and are consistent with the gas isotope analyses which also indicated over pressured, permeable shales. These analyses are also consistent with the very high gas readings observed while drilling the Gapowo B-1 well. Approvals required to drill a lateral out of the Gapowo B-1 wellbore are pending. The company is anticipating the environmental approval to be granted within the next six weeks with the concession modification submitted subsequently.

The update follows data released by BNK Petroleum in September regarding the Miszewo T-1 well on the Trzebielino Concession in Poland. This well, also held by Indiana Investments Sp. z o.o. , was drilled to a depth of approximately 5,400 meters. Muted gas shows were recorded while drilling and coring in the target intervals of the well.

At that time, early core analysis from the Silurian portion of the Gapowo B-1 core verified the company’s belief that the Gapowo B-1 well was drilled in a portion of the basin that is highly prospective for shale gas. The core data is showing that the lower Silurian has higher porosities, permeability and Total Organic Carbon than in the comparable intervals in all other Baltic Basin BNK Petroleum Inc. operated wells.

Incorporating the new data into the geologic model indicates that the prospective zones in the Gapowo B-1 well still extend over a significant portion of BNK’s Indiana concessions.

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.

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