Kodiak Energy, Inc. And Subsidiary Cougar Energy, Inc. Update To Creenergy Project
CALGARY, ALBERTA – Sept. 25, 2009 – Kodiak Energy, Inc. (TSX VENTURE:KDK) (OTCBB:KDKN) (“Kodiak” or the “Corporation”) and majority controlled subsidiary, Cougar Energy, Inc. (Cougar), presents an update to the CREEnergy Project.This is in reference to the press release issued today by Bigstone Cree Nation and represented to be by the First Nations communities of Peerless Lake and Trout Lake.
As recently as today, Kodiak and Cougar have been in discussions with CREEnergy Oil and Gas Ltd. (CREEnergy) and confirm that the press release from the Bigstone Cree Nation was not sanctioned by the Chiefs and communities of Peerless Lake and Trout Lake. Kodiak and Cougar restate that we have valid and legal agreements with CREEnergy, who in turn has valid and legal agreements with the communities of Peerless Lake and Trout Lake. We look forward to working with the First Nations peoples of these communities going forward.
Kodiak and Cougar have reviewed our documentation with the Alberta Securities Commission, other regulatory bodies, and our legal counsel, and are confident going forward with these agreements. Furthermore, Kodiak and Cougar question the motivation for the Bigstone Cree Nation press release and will respond appropriately to protect the interests of Kodiak and Cougar, if necessary.
About Cougar: Cougar Energy, Inc. is based in Calgary, Alberta Canada and a privately held subsidiary of parent company, Kodiak Energy, Inc. The focus is on the exploration and development of Canadian based onshore oil and gas properties. The current projects are Lucy in the Horn River Basin in northeast British Columbia and CREEnergy Joint Venture and area projects located in north central Alberta. Additional information on the Lucy and CREEnergy projects are available at http://www.cougarenergyinc.com
About Kodiak: Kodiak Energy, Inc. is a Calgary, Alberta, Canada based publicly traded oil and gas exploration and development company focused on developing and exploring onshore oil, gas and CO2 properties within North America. Our main prospect is located in the northeast New Mexico. Through our private subsidiary, Cougar Energy, Inc., we are developing the projects of Lucy in the Horn River Basin in northeast British Columbia and CREEnergy Joint Venture and area projects located in north central Alberta. Additional information on Kodiak is at http://www.kodiakpetroleum.com
Forward-looking Statements: This press release contains forward-looking statements. The words or phrases “would be,” “will” “intends to,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” or similar expressions are intended to identify “forward-looking statements”. The Corporation’s business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov and www.sedar.com). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Corporation cautions readers not to place reliance on such statements. Kodiak undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Kodiak Energy, Inc.
Wm (Bill) S. Tighe
President and CEO
www.kodiakpetroleum.com or www.cougarenergyinc.com
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