2009-08-10-2008-08-01

To acquire co. gaining 70,000 net acres in Williston Basin, Peace River Arch.

Kodiak Energy Inc., Calgary, (CDNX: KDK.V; OTCBB: KDKN) plans to acquire privately held Brink Energy Ltd., Calgary, for C$33 million. Brink holdings are primarily in the Williston Basin in southwestern Manitoba with additional holdings in the Peace River Arch area of northwestern Alberta totaling approximately 70,000 net acres. The land base consists of multiple horizons for long-term development and includes the Spearfish and Bakken formations. Brink has drilled 12 wells, with 10 producing and one waiting for tie in. Brink is operator on the southwestern Manitoba properties with varying working interests throughout. Kodiak will pay 0.411 share per Brink share or C$0.575 plus 0.2055 Kodiak share with a transaction value based on a price of C$1.15 per Brink share. Brink shareholders will own approximately 7% of Kodiak. Bill Tighe, Kodiak president and chief executive, says, "From our inception in 2005, we have increased our undeveloped land base from 5,500 net acres to 286,000 net acres. The addition of Brink acreage will increase Kodiak's undeveloped land base to an excess of 340,000 net acres." Kodiak operates in Montana, Alberta, the Northwest Territories and New Mexico.