Kodiak Energy Closes Acquisition of Thunder River & CIMA Holdings

Kodiak Energy has closed the acquisition of certain oil and gas assets in the Northwest Territories, Canada and New Mexico, United States pursuant to an acquisition agreement between the Corporation, Thunder River Energy and CIMA Holdings.

Pursuant to the Acquisition, and as partial consideration for the Assets, the Corporation paid US$1,000,000 to the Sellers and issued to them a total of 7,000,000 common shares. The Corporation also agreed to issue to Thunder up to a further 6,000,000 common shares upon the achievement of certain milestones related to the Assets.

The common shares issued pursuant to the Acquisition will be subject to an indefinite hold period in the United States.

Kodiak Energy, Inc is a Calgary-based, publicly traded oil and gas exploration and development Company focused on creating a portfolio of North American assets that offer near-term production and cash flow as well as substantial growth through exploration. The Corporation has lease holdings in Montana, southeastern Alberta, northeastern Alberta and high impact prospects located in the central Mackenzie River Valley of the Northwest Territories ("Little Chicago"), and the Tucumcari Basin area in northeastern New Mexico ("Sophia" and "Spear Draw").


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