Kodiak Energy, Inc.
OTC Bulletin Board : KDKN

Kodiak Energy, Inc.

March 03, 2009 19:44 ET

Kodiak Energy, Inc. Announces Subsidiary Name Change to Cougar Energy, Inc.

CALGARY, ALBERTA--(Marketwire - March 3, 2009) - Kodiak Energy, Inc. (TSX VENTURE:KDK) (OTCBB:KDKN), ("Kodiak" or the "Corporation") announces that its private subsidiary, 1438821 Alberta Ltd., has changed its name to Cougar Energy, Inc. ("Cougar") effective February 25, 2009. Cougar is incorporated under the Alberta Business Corporations Act in Canada and further information can be obtained on Kodiak's website at www.kodiakpetroleum.com. Related updates to the website will occur following dissemination of this press release.

The directors and management of Cougar Energy Inc. are Les Owens as director; William S. Tighe as director and chief executive officer; Glenn Watt as director and president; and William Brimacombe as chief financial officer. This director and management structure will allow for seamless guidance and oversight in financing activities and to advance the imminent projects of Lucy in the Horn River Basin and CREEnergy Joint Venture in north central Alberta.

About Cougar: Cougar Energy, Inc. is based in Calgary, Alberta Canada and a privately held subsidiary of parent company, Kodiak Energy, Inc. The focus is on the exploration and development of Canadian based onshore oil and gas properties. The current projects are Lucy in the Horn River Basin in northeast British Columbia and CREEnergy Joint Venture located in north central Alberta.

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. The main prospects are located in the central Mackenzie River Valley of the Northwest Territories and northeast New Mexico.

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.

The TSX-V has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

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