Kodiak Energy, Inc.
OTC Bulletin Board : KDKN

Kodiak Energy, Inc.

March 19, 2007 03:00 ET

Kodiak Energy Inc. Announces Terms of Its Definitive Agreement to Acquire Control of Thunder River Energy

CALGARY, ALBERTA--(CCNMatthews - March 19, 2007) - Kodiak Energy, Inc. (OTCBB:KDKN) is pleased to announce it has terms for a definitive agreement to acquire Thunder River Energy. Kodiak is reserving for issuance 6,867,412 common shares of Kodiak at a issue price of $1.75 per share. The transaction gives Kodiak controlling interest of Thunder with Kodiak having 57% upon closing.

Thunder River Energy, Inc. is an Alberta company which currently owns a 50% working interest in the 200,000 acre Exploration License 413 in the North West Territories and 95% of CIMA holdings of New Mexico which has 55,000 acres of mineral rights in North East New Mexico.

An independent evaluation of the Little Chicago Exploration license was recently completed by a qualified engineering analyst. This report bases its evaluation of potential reserves in only one of the several seismic structures observed on the property. The report compares the potential of this feature to the Keg River B pool at Rainbow Lake Alberta and concludes a "best estimate" of 107 MMBOE of potential reserves. The 200,000 acre Mackenzie River block is believed to potentially contain up to 1 billion barrels/oil and in excess of 2 TCF of natural gas.

The New Mexico properties have potential of finding substantial economical oil, gas, CO2 (and possible helium) reserves in the near term. These high impact prospects are well documented and located near existing infrastructure and at shallow to medium drilling depths.

Kodiak Energy, Inc is a Calgary based oil and gas company focused on creating a portfolio of North American assets that offer not only immediate production and cash flow but growth through exploration. The Company has lease holdings in Montana, South eastern Alberta, North eastern Alberta, an agreement to purchase mineral rights both in the Northwest Territories and Northeast New Mexico.

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." Actual results could differ materially from those projected in the Company's proposed oil and gas related business. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company 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.

Contact Information