Kodiak Energy, Inc.
OTC Bulletin Board : KDKN
TSX VENTURE : KDK

Kodiak Energy, Inc.

June 09, 2009 00:01 ET

Kodiak Energy, Inc. Announces Farmin Agreement

CALGARY, ALBERTA--(Marketwire - June 9, 2009) - Kodiak Energy, Inc. (TSX VENTURE:KDK) (OTCBB:KDKN) ("Kodiak" or the "Corporation") announces that its private subsidiary, Cougar Energy, Inc. ("Cougar"), has negotiated a standard farmin agreement with a private company for 100% of approximately 28 gross sections (17,920 acres) of mineral rights located in the immediate vicinity to the CREEnergy project. This transaction is a strategic step for Cougar to expand the oil and gas development related to the CREEnergy project and the benefit derived from the existing infrastructure. More information regarding the CREEnergy project can be found on the Cougar Energy, Inc. web link at http://www.cougarenergyinc.com.

Mr. Bill Tighe, CEO of Cougar, states, "We are excited by the opportunity this farmin agreement brings to Cougar and the CREEnergy project. With these lands being in the immediate area to the CREEnergy Project, this enables Cougar to have a concentrated development approach to the project. This approach allows for reduced overall development costs and increases the potential reserves base in the area. The controlled royalty rates and close proximity to 2 natural gas sales pipelines within the farmin lands further enhances the economics for the project, even at depressed natural gas prices."

About Cougar: Cougar Energy, Inc. is based in Calgary, Alberta Canada and is a privately held subsidiary of parent company, Kodiak Energy, Inc. Its focus is on the exploration and development of Canadian based onshore oil and gas properties. Current projects include the CREEnergy Joint Venture located in north central Alberta and the Lucy shale gas project in the Horn River Basin in northeast British Columbia. Additional information on the CREEnergy and Horn River Basin projects is available at http://www.cougarenergyinc.com.

About Kodiak: Kodiak Energy, Inc. is a Calgary, Alberta, Canada based publicly traded oil and gas exploration and development company focused on developing and exploring onshore oil, gas and CO2 properties within North America. Our main prospects are located in the central Mackenzie River Valley of the Northwest Territories and northeast New Mexico. Through our private subsidiary, Cougar Energy, Inc.., we are developing the projects of Lucy in the Horn River Basin in northeast British Columbia and CREEnergy Joint Venture located in north central Alberta. Additional information on Kodiak is at http://www.kodiakpetroleum.com.

Forward-looking Statements: This press release contains 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". The Corporation's business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov and www.sedar.com). 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. Kodiak undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information