Kodiak Finds Gas in Two Southern Alberta Wells

Kodiak Energy has successfully drilled two wells in Manyberries, Southern Alberta. The two wells were drilled and cased to the 2d whitespec. Initial logs review, show good gas potential in multiple zones. The wells will be completed, stimulated and tested in Q2 to further evaluate the potential reservoir. This will be done in conjunction with an evaluation program on the existing well on the property. After reviewing the results, the company is evaluating a seismic program to maximize results from succeeding drill programs planned for Q4, 2006.

Kodiak Energy, Inc. is a Calgary based Oil and Gas company is focused on creating a portfolio of domestic low risk high impact assets that offer immediate production and cash flow. Kodiak Energy is targeting high impact opportunities internationally, discussions are currently ongoing and further details will follow as they become due.