Kodiak O&G Commences Public Offering of Common Stock

Kodiak Oil & Gas is commencing an offering of up to 10,000,000 shares of its common stock in a public offering. KeyBanc Capital Markets Inc. is acting as the sole book runner for the offering and as the co-manager with Thomas Weisel Partners LLC. Proceeds of the offering will be used primarily for drilling and completion activities on Kodiak's Williston Basin leases in the Bakken and Three Forks reservoirs, and for other general corporate activities. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 common shares to cover over-allotments, if any.

The offering is being made pursuant to an effective shelf registration statement that Kodiak filed with the Securities and Exchange Commission on July 14, 2008. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.


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