BNK Petroleum Inc., Camarillo, Calif., (TSX: BKX) reported that a drilling rig has been contracted to begin drilling the first of three wells on the company’s Indiana concession blocks. Lease construction is scheduled to begin in January 2012 and the drilling rig is expected to mobilize to the first location in late February to early March. The company is also in the process of applying for approval to drill horizontal wells on its concessions.

The previously announced 2D seismic program is progressing with approximately 35% of the data already acquired. Approximately sixty percent of the acquired lines are currently being processed and we anticipate receiving that data by year-end. The program consists of about 407 km on the Saponis concessions and 333 km on the Indiana concessions. The objective of the seismic program is to further define basin structure and burial history as well as to aid in the selection of individual well locations.