BNP Resources Inc. provides operational update



    CALGARY, Jan. 31 /CNW/ - BNP Resources Inc. ("BNP" or "the Corporation")
is pleased to provide the following update:

    -   BNP drilled 3 wells in December 2007. One has been completed as an
        oil well, one as a gas well and completion operations are ongoing on
        the remaining well.

    -   Further to the Corporation's Third Quarter press release, BNP has
        commenced production from 3 oil wells for which production rates are
        expected to stabilize by the end of the first quarter of 2008. The
        two previously announced gas well tie-ins have been deferred, pending
        a further review of the economic impact of the Alberta Government's
        Royalty Revision Program. In addition, BNP has shifted its focus
        toward the development of recent light oil discoveries.

    -   A third well at 5-4-3-20-W4M has been spudded at Jensen to further
        the Corporation's Southern Alberta oil discovery and evaluate deeper

    -   Chief Geologist Greg Anderson has been promoted to Vice-President,
        Exploration, in recognition of his substantial contribution to BNP's
        exploration efforts and specifically for his role in the Jensen

    -   The Corporation advises that its right under an Agreement from
        November 2006, with a Canadian subsidiary of an independent American
        company to continue drilling option wells on the remaining
        10,240 unearned acres expired on January 15, 2008. As of January 29,
        2008, the Corporation retains 23,218 gross acres and 10,751 net

    BNP is actively engaged in the exploration for, the development and
production of oil and natural gas reserves. BNP's business strategy is to
build sustainable and profitable per share growth primarily through internally
generated exploration and development drilling opportunities.
    BNP has approximately 13,594,576 Class A shares and 922,500 Class B
shares issued and outstanding which trade on the TSX Venture Exchange under
the symbols "BNX.A and "BNX.B".
    Further information with regards to the Corporation may be found on the
SEDAR website or on the Corporation's website

    ADVISORY: This press release may contain forward-looking statements
including management's assessment of future plans and operations and
expectations of future production, cash flow and earnings. These statements
are based on current expectations that involve a number of risks and
uncertainties, which could cause actual results to differ materially from
those anticipated. These risks include, but are not limited to: the risks
associated with the oil and gas industry (e.g. operational risks in
development, exploration and production; delays or changes in plans with
respect to exploration or development projects or capital expenditures; the
uncertainty of reserve estimates; the uncertainty of estimates and projections
relating to production, costs and expenses and health, safety and
environmental risks), commodity price and exchange rate fluctuation and
uncertainties resulting from potential delays or changes in plans with respect
to exploration or development projects or capital expenditures. Oil equivalent
amounts have been calculated using a conversion rate of six thousand cubic
feet of natural gas to one barrel of oil. BOEs may be misleading, particularly
if used in isolation. A BOE conversion ratio of 6 mcf: 1 bbl is based on an
energy equivalency conversion method primarily applicable at the burner tip
and does not represent a value equivalency at the wellhead. The
forward-looking statements contained in this press release are made as of the
date hereof and BNP undertakes no obligations to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Gregory Bilcox, President and CEO, BNP
Resources Inc., Phone: (403) 695-1091, Fax: (403) 265-0413; Gordon B. Paul, VP
Finance and CFO, BNP Resources Inc., Phone: (403) 695-1095, Fax: (403)

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