Kodiak has provided an interim update on its Williston Basin drilling and completion activities.

Williston Basin -- Dunn County, North Dakota On the Company's core Fort Berthold Indian Reservation (FBIR) leasehold in Dunn County, N.D., Kodiak targets oil and gas production from the middle member between the upper and lower Bakken shales, which are the source for existing hydrocarbons. The Three Forks / Sanish Formation, a commercially productive interval lying directly below the lower Bakken shale, is also expected to be a future exploration target.

In early May 2009, Kodiak had successfully completed its first two producing oil wells in the middle Bakken Formation on the FBIR. Since then, the Company has reached total depth on one additional well, is currently drilling the horizontal leg of its sixth well, and has successfully completed two more wells as middle Bakken producers. As of June 24, 2009, Kodiak had four producing wells, one well awaiting completion and is drilling ahead on the Two Shields Butte (TSB) #14-33-28H.

New Producers Continue to Confirm Geologic Model The TSB #16-8-7H well (Kodiak operates with 37.5% working interest (WI), before payout (36% WI after payout) and 30% NRI, before payout (29.5% NRI after payout)) reached total depth in April 2009. The well, located in the northwestern portion of Kodiak's FBIR leasehold, was drilled to an approximate total vertical depth (TVD) of 10,350 feet and a total measured depth (TMD) of 19,743 feet, with an 8,995 foot lateral in the middle Bakken.

Fracture stimulation procedures were completed on the TSB #16-8-7H well in early June 2009. The well was completed utilizing a combination of sliding sleeves and plug and perforation completion techniques with a 15-stage fracture stimulation design in the well bore's 8,995 foot horizontal lateral section. The well flowed back oil and frac fluid up 4 1/2" frac string to the tank batteries. Initial 24-hour production rates were 1,626 barrels of oil per day (BOPD) and 1.38 million cubic feet of natural gas per day (MMcf/d), or 1,856 barrels of oil equivalent per day (BOE/d). Production was curtailed due to surface facility constraints. During the first seven days of flow-back, the well produced 8,654 barrels of oil (BO) and 9,145 barrels of frac fluid. Prior to being shut-in, the well was producing 46 BO and 30 barrels of frac fluid per-hour on a 20/64 inch choke with an average pressure of 1,875 psi. The well was shut-in during completion of the TSB #16-8-16H well and will be put back onto production later this month.

Tags: Kodiak Oil & Gas