Kodiak Energy, Inc.
OTC Bulletin Board : KDKN

Kodiak Energy, Inc.

September 28, 2007 17:53 ET

Kodiak Energy, Inc. Announces Closing Of Acquisition

CALGARY, ALBERTA--(Marketwire - Sept. 28, 2007) - Kodiak Energy, Inc. (OTCBB:KDKN) ("Kodiak" or the "Corporation") is pleased to announce that it has closed its previously announced acquisition (the "Acquisition") of certain oil and gas assets in the Northwest Territories, Canada and New Mexico, United States (the "Assets") pursuant to an acquisition agreement between the Corporation, Thunder River Energy Inc. ('Thunder") and CIMA Holdings Inc. ("CIMA"). Pursuant to the Acquisition, and as partial consideration for the Assets, the Corporation paid US$1,000,000 to the Sellers and issued to them a total of 7,000,000 common shares. The Corporation also agreed to issue to Thunder up to a further 6,000,000 common shares upon the achievement of certain milestones related to the Assets.

The common shares issued pursuant to the Acquisition will be subject to an indefinite hold period in the United States.

Kodiak Energy, Inc is a Calgary-based, publicly traded oil and gas exploration and development Company focused on creating a portfolio of North American assets that offer near-term production and cash flow as well as substantial growth through exploration. The Corporation has lease holdings in Montana, south-eastern Alberta, north-eastern Alberta and high impact prospects located in the central Mackenzie River Valley of the Northwest Territories ("Little Chicago"), and the Tucumcari Basin area in north-eastern New Mexico ("Sophia" and "Spear Draw").

This press release may contain forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the Corporation's proposed oil and gas related business. The Corporation's business is subject to various risks, which are discussed in the Corporation's filings with the US Securities and Exchange Commission ("SEC"). The Corporation's filings may be accessed at the SEC's Edgar system at www.sec.gov and on the SEDAR system in Canada. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Corporation cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such a statement.

Further information relating to Kodiak may be found on www.sedar.com and www.sec.gov as well as on Kodiak's website at www.kodiakpetroleum.com.

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