2008-12-03-2008-11-05-2008-11-05

JV to drill up to 7 wells in Dunn County, ND.

Kodiak Oil & Gas Corp., Denver, (NYSE: KOG) has entered a joint venture with an undisclosed private third-party E&P to drill up to seven wells on certain Kodiak properties in North Dakota. The private company will drill the wells in Dunn County. Kodiak will pay 20% of drilling and completion costs for the first, third, fifth and seventh wells for its 60% working interest and the joint-venture partner will pay the remaining 80% for a 40% working interest. The first seven wells must be drilled within 30 months. The total promote on the wells will not exceed $8.5 million to the third party.