BNK Petroleum Inc. is providing an update on its Tishomingo Field, Caney oil shale operations in Oklahoma, through its indirect wholly owned subsidiary BNK Petroleum (US) Inc., as well as an update on its Polish operations.

The previously announced fracture stimulation of the (Caney) Barnes 6-3H well was completed and the well is currently flowing back fracture stimulation fluid. While only 11% of the stimulation fluid has been recovered to date, the well has begun producing oil. The oil rates and cuts have been increasing daily and yesterday the well made over 120 BOPD.

The gas lift mechanism in place is being optimized to increase the flowback rates from the well. The Company anticipates that it will take another 2 to 3 weeks before enough stimulation fluid has been recovered to allow the true initial production rate to be determined. As a comparison, the Barnes 6-2H Caney well drilled by the Company in 2012 did not begin producing any oil until 23% of the stimulation fluid had been recovered.

Tags: BNK Petroleum