Bear Necessities: Kodiak Loses CFO

Kodiak Oil & Gas Corp., an oil and gas exploration and production company with assets in the Green River Basin of southwest Wyoming and the Williston Basin of North Dakota and Montana, announced the resignation of its Chief Financial Officer, James. P. Henderson, effective May 10, 2008. Mr. Henderson is resigning to pursue other opportunities with a privately held oil and gas company and will remain as Kodiak's Chief Financial Officer to ensure the completion of the Company's filing on Form 10-Q for the first quarter 2008 reporting period. The Company expects to report its first quarter 2008 financial and operating results on or before May 9, 2008.

"Jimmy was a respected member of our team who will be missed," said Kodiak's President and CEO, Lynn Peterson. "During his time, he implemented, improved and facilitated best-in-practice internal reporting controls and filing procedures that are now an integral part of Kodiak's accounting and reporting function, and he has expressed his full confidence in our financial reporting and our internal accounting processes and controls. On behalf of the Board of Directors, we wish Jimmy every success and sincerely thank him for his service to the Company and its shareholders."