OREANDA-NEWS. BNK Petroleum Inc. (the "Company") (TSX: BKX) is pleased to announce that Morgan Stanley Capital Group Inc. ("MSCGI") has increased its commitment amount under the credit facility announced by the Company on July 30, 2014 from USD 15,900,000 to USD 24,400,000. The other terms of the USD 100,000,000 facility remain the same.

The facility bears interest at a per annum rate equal to then three month LIBOR plus an applicable margin ranging from 2% to 7% based on a number of factors including the ratio of outstanding borrowings to a calculated borrowing base level and individual well value concentration. The facility provides for interest only payments until the July 2018 maturity date. The proceeds from the facility are intended to fund drilling and completion of Caney shale oil wells in the Tishomingo field in Oklahoma.

Wolf Regener, President and CEO said "We are pleased that MSCGI has provided us with this increase during these challenging times in the oil and gas business. We appreciate that MSCGI shares our belief in the current and potential value of our Tishomingo field asset."

The Company also reports that since the beginning of the year discretionary expenses have been scaled back, cost reduction measures were initiated, and operations have been further streamlined.

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 oil and gas properties and concessions in the United States, Poland and Spain. Additionally the Company is utilizing its technical and operational expertise to identify and acquire additional unconventional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol BKX.