In accordance with the granting of this latest concession, certain minimum requirements must be fulfilled by BNK to retain its interest.
Some of the more significant minimum requirements consist of conducting geological work in the first year, acquiring seismic in the second year, drilling one vertical well in both years three and four, and the drilling of one horizontal well in year five within each concession area.
California-based BNK Petroleum, an oil and gas exploration and production company, holds an average of 50% interest in the Tishomingo gas field in Oklahoma and varied interests in three other areas in the Northern and Central regions of the US and in Europe.
