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Kodiak Energy, Inc. Announces Voluntary Delisting From TSX Venture Exchange
Press Release
Source: Kodiak Energy, Inc.
On 7:38 pm EST, Wednesday November 4, 2009
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CALGARY, ALBERTA--(Marketwire - Nov. 4, 2009) - Kodiak Energy, Inc. (TSX VENTURE:KDK - News; OTCBB:KDKN - News; "Kodiak" or the "Corporation) announces that it has voluntarily requested the TSX Venture Exchange (TSX-V) delist Kodiak's common shares from trading on the TSX-V. The TSX-V's policies allow for a period of ten days before delisting to facilitate settlement of trades and to allow shareholders to sell to willing purchasers. The TSX-V will issue an Exchange Bulletin ten days prior to the voluntary delisting. This voluntary delisting request is not pursuant to any order or communication from the TSX-V.
Kodiak's common shares are currently quoted for trading on the OTC Bulletin Board (OTCBB) in the United States under the symbol KDKN and it will continue to maintain this quotation status and Canadian shareholders will be able to continue to trade through their brokers on that market.
The Corporation's board of directors approved the voluntary delisting from the TSX Venture Exchange after weighing the required expenses and multi-jurisdictional filings to maintain a dual listing of the company's securities against the perceived shareholder benefit accrued from trading on different platforms. Since the Corporation's TSX-V listing effective December 24, 2007 to market close on October 30, 2009, liquidity analysis revealed an average daily trading volume of 270,413 shares on the OTCBB and 14,022 on the TSX-V for the period. A TSX-V listing and maintenance requires an annual fee plus additional costs for transactions relating to financings, agreements and forms review, processing fees, etc. In comparison, there are no fees for issuers quoted on the OTCBB. The Corporation does not expect the anticipated voluntary delisting from the TSX-V will have any impact on the day-to-day operations of the company.
The OTCBB is a regulated quotation service that displays real-time quotes, last-sale prices and volume information for more than 3,300 securities. There are no fees for issuers quoted on the OTCBB. Even though the OTCBB data is disseminated as part of the Nasdaq Level 1/Last Sale ServiceSM, it is separate and distinct from the Nasdaq Stock MarketSM. The OTCBB securities are traded by a community of market makers who enter quotes and trade reports through a computer network, of which information is publicly available on various stock trading websites. The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for securities firms in the United States and is responsible for establishing rules governing its broker/dealer members, including OTCBB subscribing members, on conduct, qualification standards, examinations, investigations, violations, and investor and member inquiries. To maintain quotation eligibility, Kodiak Energy, Inc. is required to file periodic financial information with the U.S. Securities and Exchange Commission (SEC). All the Corporation's filings are located under the "Kodiak Energy, Inc." profile on the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system through the U.S. SEC website at http://www.sec.gov. In addition, Kodiak is Sarbanes Oxley (SOX) compliant, is a fully reporting accelerated filer, and adheres to the security laws, rules, regulations and filing requirements of the U.S. SEC.
Additional information regarding the OTCBB can be found at www.otcbb.com. Shareholders should contact their broker for more information about executing trades in common stock on the OTCBB.
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.
Contact:
Wm (Bill) S. TigheKodiak Energy, Inc.President and CEO(403) 262-8044info@kodiakpetroleum.comwww.kodiakpetroleum.com
Kodiak Energy, Inc. and Subsidiary Cougar Energy, Inc. Appoints VP Finance and CFO
Press Release
Source: Kodiak Energy, Inc.
On 12:00 pm EST, Thursday November 5, 2009
CALGARY, ALBERTA--(Marketwire - 11/05/09) - Kodiak Energy, Inc. (TSX-V:KDK - News) (OTC.BB:KDKN - News) ("Kodiak" or the "Corporation") and its majority controlled private subsidiary, Cougar Energy, Inc. ("Cougar"), welcomes David (Dave) Wilson as Vice President, Finance of Kodiak and Chief Financial Officer of Cougar effective November 2, 2009. Additional information for Dave Wilson can be found at http://www.kodiakpetroleum.com/s/Management.asp.
Dave has over 20 years of professional accounting experience with various public and private oil and gas exploration companies, both domestically and internationally. He has expertise in accounting, securities and regulatory standards for publicly traded companies including U.S. GAAP and Canadian IFRS. Dave is also accomplished in various financing initiatives, related negotiations, and M&A transactions. His proven executive management skills in the capacities of Vice President, Finance and Chief Financial Officer were instrumental in successfully executing various strategic transactions. He obtained his Certified Management Accountant designation from the Alberta Society of Management Accountants.
"I am delighted in joining Kodiak and Cougar at this exciting time in the companies' growth," stated Dave Wilson. "I look forward to working with both executive management teams to create opportunities and implement financial and operational strategies to move the companies forward."
"We are excited to add such a qualified and experienced member to our executive management teams", said Bill Tighe, President and CEO of Kodiak. "Dave's comprehensive level of industry, accounting and regulatory knowledge comes at a significant turning point for both Kodiak and Cougar."
With the appointment of Dave Wilson as Vice President, Finance of Kodiak and Chief Financial Officer of Cougar, Bill Brimacombe remains Chief Financial Officer of Kodiak and has stepped down as Chief Financial Officer of Cougar.
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.
Contact:
Contacts:Kodiak Energy, Inc.William (Bill) S. TighePresident and CEO(403) 262-8044info@kodiakpetroleum.comhttp://www.kodiakpetroleum.com/ or www.cougarenergyinc
And dont forget the float is only 83 million....
Senate Panel Set to Take on Climate Bill
By IAN TALLEY
WASHINGTON -- The Senate debate over climate legislation is set to begin in earnest this week, with a key panel holding hearings on legislation that would curb U.S. greenhouse-gas emissions.
The hearings by the Senate Committee on Environment and Public Works mark the first phase in what is likely to be a months-long undertaking by Senate Democrats to try to pass a climate bill.
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Democratic Sens. Barbara Boxer and John Kerry, shown in Washington in September, unveiled a detailed version of climate legislation on Friday.
After months of delays, Democratic Sens. Barbara Boxer and John Kerry on Friday unveiled a more-detailed version of their climate legislation. The version of the bill, which would seek to cut greenhouse-gas emissions by 20% below 2005 levels by 2020, includes new provisions intended to hold down costs to consumers and certain industries.
The Senate bill being debated this week is similar, in both broad outlines and many details, to legislation passed by the House. It would require companies across the economy to hold government-issued permits allowing them to emit greenhouse gases, which are believed to contribute to global warming. Over time, the government would reduce the number of permits issued, bringing down emissions, while allowing companies to trade the permits among themselves.
Like the House measure, the Senate bill attempts to ease the costs to industry by initially giving away for free permits to certain industries, such as electric utilities and makers of steel and cement.
Oil-industry officials reacted negatively to the latest version of the Senate legislation. Compared with other industries, oil companies would receive one of the smallest shares of the allocations in the current proposal, despite being one of the biggest greenhouse-gas sources. American Petroleum Institute President Jack Gerard said the Boxer-Kerry bill was "worse" than the House version. "It will impose even greater costs on the economy and distribute those costs just as inequitably," he said.
How the allocations are divided between industries is one of the most contentious aspects of the legislation. President Barack Obama, shortly after taking office, proposed auctioning off most of the emission permits to help fund tax cuts for the middle class. But the administration has given up on that approach in an effort to gain the support of many key industries, such as power companies and steelmakers.
The proposal by Ms. Boxer, of California, and Mr. Kerry, of Massachusetts, is likely to go through several iterations, as lawmakers seek to gain enough support to pass the measure on the Senate floor. Still, Democratic leaders are signaling that the measure faces a long road. Majority Leader Harry Reid has suggested the chamber may have to wait until next year to vote on legislation putting a price on carbon, in part because of the chamber's preoccupation with health care.
Ms. Boxer has said she plans for her panel to vote on the bill as soon as the first week in November. That timetable could slip, depending on how Republicans respond to the latest version. Friday, Sen. James Inhofe of Oklahoma, the ranking member on the environment committee, said Republicans on the panel were prepared to block a vote on the legislation if the Environmental Protection Agency hadn't conducted what he believed to be adequate economic study.
In a short analysis of the bill released late Friday, the EPA said the Senate version would have a similar estimated economic impact as the House bill, passed in late June. The EPA estimated the House bill would cost the average household 22 cents to 30 cents per day, or $80 to $111 per year.
True.... I think I should tell a few friends about this one..... as a matter of fact I added more shares last week..... Good luck !
The way this has been consistant.. I almost think .50 could be a gift until the next news... probably easily gain 10-20% without blinking. Low floater, could bounce QUICK... Not saying it's going to happen, who knows, but if they keep it up and hit, game on.
10Q
Authorized 300,000,000 Common Shares Par Value $.001 Each; 10,000,000 Preferred Shares Issued and Outstanding 110,023,998
Oil and gas prices up and this is down....... Something is about to explode here..... Price per share !!! IMO !!
Why isnt this at the 1.00 price? Or at least the high .80's ? These guys have been moving forward like clock work...... way over due IMO
New to this; studying some charts and attempting to learn whatever possible. That being said; in learning about reading charts I came across the Cup with Handle which is as I understand it a bullish continuation pattern that marks a consolidation period followed by a breakout. I was wondering if someone with more experience than I could point out whether this is an example of that or not. I refer to Aug 20th through Oct 12th as forming the cup; and hypothetically now as being part of the handle. Thanks
Agreed, along with charts and the company doing stuff right, cant hurt to know all there is to know... esp in penny land... Best of luck trading and or investing!!
I get a kick out of it..... sometimes it helps but you need everything together before buying or selling IMO
Good luck !
good thing we didnt sell when it said sell.. up 22%. lol Definitely a fun tool to watch.
I agree, drops on low volume but pops nicely on any news or volume..
I thought about selling at .71 the other day but no way.... .77 is the least I'll sell at.....IMO .77 to .82 shortly....and if I had patience wait for 1.80 next year.... Im holding a lot here....(for me anyway)
Theres really no reason for this drop IMO
Very strange on oil going up and all the positive pumping of the PA land for gas drilling - for some reason, I am holding and waiting for a really big pop over a dollar.
Did I miss something here? Been watching all day and not sure why this is south !!
You may be right there......ither way this is one of my long holds......but I may flip it along the way if it can be more steady......70's and 80's soon IMO
Perhaps just taking a breather. I am thinking that this stock is becoming more tied to the big boards than the lower penny stocks and impacted by what is happening globally the higher it goes. Oil is going up and futures are currently up - perhaps tomorrow it will start moving up with the other markets.
:( What happened??? .72 much better
.72 is looking better today.. :(
I'm looking forward to each and every Update these guys give.... Smart move buying producing properties along with exploration ........ What a concept using money wisely !!!!
Lets get this over a $1..... IMO
Kodiak Energy, Inc. Continues Achieving Milestones, Adds 40 Production Wells
(Investrend Research Syndicate) -- Ernest C. Schlotter, senior SISM Research analyst and four star analyst according to StarMine, has released an update report on Kodiak Energy, Inc. (OTCBB: KDKN) (TSX Venture: KDK) outlining company progress achieved during the past few weeks.
A complimentary report, which includes important disclosures, disclaimers and analyst qualifications, is available for download via the Investrend website (www.investrend.com).
Investors are advised to read disclosures carefully before trading in the equities of any publicly traded company.
According to the report:
"Kodiak's Cougar Energy, Inc. successfully closed two property acquisitions in September that are adjacent to the company's strategic CreeEnergy JV project. This acquisition will provide Cougar with immediate cash flow, a cornerstone in the development history of Kodiak. Cougar has acquired proven and probable reserves valued C$7.7 million, based on a PV10 valuation from these two acquisitions.
"We see substantial upside potential for this venture to about 1,000 barrels/day and a cash flow of 2 million per month, as there are twenty-five low cost workovers and recompletion wells. These wells previously produced up to an estimated total of 2,450 barrels of oil per day. Cumulative production for these wells exceeded 6.6 million barrels of light sweet crude oil.
"Cougar will be actively working this fall and winter to increase production and revenues substantially. In addition, Kodiak added approx. C$1.1 million in PV10 from the Alexander and Crossfield producing property acquisitions in Alberta. This extensive 345,000-acre land position, with its JV partner, is a strategic asset with significant infrastructure buildout that adds value to Kodiak's shares."
Kodiak Energy, Inc
www.kodiakpetroleum.com
Investrend Research
www.investrend.com
SISM Research
www.sism.com
Volume is huge.....
I had a sell at .72 last week but upped it. With the volume and news it could be interesting to see where this lands. Definitely could get interesting with how the chart looks! Best of luck to you as well.
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&b=5&g=0&id=p15986858351
Good luck to you also....I almost sold at .72 but I think this is only the start......look at the moves they are making increasing revenues so far..... You may see your 80's IMO
Cant argue with .72~!!!!! on ANY good news I cant wait to see how this moves. Look at the volume today alone! Someone wants in or is covering.
Nice open but I hate to sell after this last release...it seems this project alone adds 24 million plus revenue per year right??
"We see substantial upside potential for this venture to about 1,000 barrels/day and a cash flow of 2 million per month, as there are twenty-five low cost workovers and recompletion wells. These wells previously produced up to an estimated total of 2,450 barrels of oil per day. Cumulative production for these wells exceeded 6.6 million barrels of light sweet crude oil.
"Cougar will be actively working this fall and winter to increase production and revenues substantially. In addition, Kodiak added approx. C$1.1 million in PV10 from the Alexander and Crossfield producing property acquisitions in Alberta. This extensive 345,000-acre land position, with its JV partner, is a strategic asset with significant infrastructure buildout that adds value to Kodiak's shares."
Where we going today MrB ? To soon to hit high 60's? I'm thinking .67 today just a steady move upwards.....
I think so as well. The good thing about it is being in when no one else wants it. Low volume took it down and any good news and volume will keep it going up.
I'm still here.....Its going to make it...."I got a feeling about this one" !
Good weekend !
Thanks for the post.
Thanks MrB... Looking good !
CORRECTING and REPLACING SISM Research Update on Kodiak Energy
Kodiak Energy Continues Achieving Milestones, Adds 40 Production Wells
Press Release
Source: Kodiak Energy, Inc.
On 10:37 am EDT, Friday October 9, 2009
Buzz up! 0 Print
NEW YORK--(BUSINESS WIRE)--In the 2nd graph, the website should be http://www.investrend.com/sism/kdkn (sted: http://www.investrend/sism/kdkn).
The corrected release reads:
SISM RESEARCH UPDATE ON KODIAK ENERGY
KODIAK ENERGY CONTINUES ACHIEVING MILESTONES, ADDS 40 PRODUCTION WELLS
(Investrend Research Syndicate) -- Ernest C. Schlotter, senior SISM Research analyst and four star analyst according to StarMine, has released an update report on Kodiak Energy, Inc. (OTCBB: KDKN - News) (TSX Venture: KDK - News) outlining company progress achieved during the past few weeks.
A complimentary report, which includes important disclosures, disclaimers and analyst qualifications, is available for download via the Investrend website (http://www.investrend.com/sism/kdkn). Investors are advised to read disclosures carefully before trading in the equities of any publicly traded company.
According to the report:
“Kodiak’s Cougar Energy, Inc. successfully closed two property acquisitions in September that are adjacent to the company’s strategic CreeEnergy JV project. This acquisition will provide Cougar with immediate cash flow, a cornerstone in the development history of Kodiak. Cougar has acquired proven and probable reserves valued C$7.7 million, based on a PV10 valuation from these two acquisitions.
“We see substantial upside potential for this venture to about 1,000 barrels/day and a cash flow of 2 million per month, as there are twenty-five low cost workovers and recompletion wells. These wells previously produced up to an estimated total of 2,450 barrels of oil per day. Cumulative production for these wells exceeded 6.6 million barrels of light sweet crude oil.
“Cougar will be actively working this fall and winter to increase production and revenues substantially. In addition, Kodiak added approx. C$1.1 million in PV10 from the Alexander and Crossfield producing property acquisitions in Alberta. This extensive 345,000-acre land position, with its JV partner, is a strategic asset with significant infrastructure buildout that adds value to Kodiak’s shares.”
Both SISM Research and Investrend advise investors to exercise a reasonable degree of due diligence before trading in the equities of any public company, including carefully reading entire analyst reports and report disclosures, and then only in conjunction with advice from a registered financial advisor or broker. Investrend and the SISM Research both further advise that any analyst rating, recommendation, target valuation, price target or opinion should be considered merely a portion of an investor’s total investigative process.
About SISM Research:
Zurich, Switzerland-based SISM Research is a private investment research firm offering independent, fundamental research on public companies since 1995. SISM Research publishes research on micro- to small-cap companies trading on the OTC, NASDAQ and AMEX, geared toward institutional and individual investors in both North America and in Europe. Also, as a member-provider of the FIRST Research Consortium, SISM takes steps to ensure the independence and integrity of SISM’s published research that exceed those of the CFA Institute Code of Ethics and Standards of Professional Conduct and the CFA-NIRI Guidelines, by following the exacting “Standards for Independent Research Providers”, which are also in accordance with guidance set forth by U.S. Securities and Exchange Commission’s Advisory Committee on Smaller Public Companies (http://www.sec.gov/info/smallbus/acspc/acspc-finalreport_d.pdf).
About The Investrend Research Syndicate:
The Investrend Research Syndicate (http://www.investrend.com/research/syndicate), a proprietary entity of Investrend Communications, Inc., distributes reports published by sources dedicated to unbiased, reliable analytics and complete transparency. The primary measure for determining those sources is the “Standards for Independent Research Providers” (http://www.investrend.com/irp_standards), as promulgated by the FIRST Research Consortium (http://www.investrend.com/first_research).
Disclosures:
Morgarten Financial Services (a “third party”) is under contract to pay SISM Research an ongoing fee of one thousand eight hundred and fifty US dollars per month over that two-year period to ensure continuation of SISM’s independent coverage of Kodiak Energy, Inc..
SISM has paid Investrend Communications, Inc. (“Investrend”) a portion of SISM's collected fees from Morgarten Financial Services for a “distribution and visibility” program, provided by the Investrend Research Syndicate (Div., Investrend) in support of SISM's Kodiak Energy, Inc. coverage.
“Safe Harbor” Statement:
This announcement contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Kodiak Energy’s, Inc. to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Kodiak Energy’s, Inc. assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and services, inability to deliver products and services when promised, inability of potential customers to pay for ordered products and services, and political and economic risks inherent in international trade.
Cautionary Note to U.S. Investors:
The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. SISM Research ma have used certain terms on this press release, such as “prospective resource” or “original oil in place”, that the SEC's guidelines strictly prohibit Kodiak Energy’s, Inc. from including in filings with the SEC, and U.S. Investors are urged to consider closely the disclosure in Kodiak Energy’s, Inc.’s Form 10K. That form can also be obtained from the SEC by calling 1-800-SEC-0330. Additional information may also be found at the SEC web site (http://www.sec.gov/).
Disclaimer:
The OTC Bulletin Board Exchange has neither approved nor accepts responsibility for the adequacy or accuracy of the above news release.
Contact:
SISM ResearchTel: +41 44-881-2020Email: research@investrend.comWebsite: www.sism.com/orKodiak Energy, Inc.William Tighe, 403-262-8044President and CEOEmail: info@kodiakpetroleum.comWebsite: www.kodiakpetroleum.comorInvestrend ResearchDiv. Investrend Communications, Inc.R. Hempel, 212-709-8075sism@investrend.comhttp://www.investrend.com
Time to buy more before she flys..... Picked up a few myself earlier today..... back to .70's soon IMO
This chart really is looking good!
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&b=5&g=0&id=p42342729997
Yep, I'm watching and holding - chart looks similar to July 27th and ready to climb again.
http://stockcharts.com/c-sc/sc?chart=kdkn,uu[e,a]declyiay[dc][pb50!b200!d!b9!b14!b5!f!][iut!lh14,3!li14,3!lo14!ue12,26,9!ul14][vc10!c20!c50][j30525747,y]&r=7623
Folks....Anybody watching here? If this can hold/break .51 we may have a run going tomorrow... ??????
8k filed today ! Nice...must read. Closed deal on oil wells etc.... Now... lets see the price go up. I think this little company means business !!!
Chart is looking up finally... Volume, accumulation, RSI, MACD all turning up... Lets hope the volume preceeds the price as they say...
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&yr=0&mn=1&dy=0&id=p12108141915
8k filed the 22nd.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report:
(Date of earliest event reported)
September 17, 2009
__________________________
KODIAK ENERGY, INC.
(Exact name of registrant as specified in charter)
DELAWARE
(State or other Jurisdiction of Incorporation or Organization)
333-38558 #405 - 505 8th Avenue S.W. Calgary, AB T2P 1G2 Canada 65-0967706 (Commission File Number) (Address of Principal Executive Offices and zip code) (IRS Employer Identification No.)
(403) 262-8044
(Registrant’s telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Information included in this Form 8-K may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). This information may involve known and unknown
risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “expect,”
“anticipate,” “estimate,” “believe,” “intend” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that any projections included in these forward-looking statements will come to pass. The Company’s actual results could differ materially from those expressed or implied
by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.
--------------------------------------------------------------------------------
Item 8.01 Other Events.
On September 21, 2009, the Company announced that, on September 17, 2009, it had received written confirmation from Indian and Northern Affairs Canada (INAC) waiving the rental amount required to continue the Little Chicago EL413 Exploration License in the North West Territories of Canada. The Company was advised that the allowable expenditures
incurred on the project to date were sufficient to extend the license for an additional one year period without requiring a rental payment. The revised expiration date for EL413 is September 17, 2010. Kodiak will reassess its go forward options for Little Chicago during the extension period.
Item 9.01 Financial Statements and Exhibits.
(a) Financial statements of business acquired.
Not applicable
(b) Pro forma financial information.
Not applicable
(c) Exhibits. 99.1 Press Release dated September 21, 2009.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
KODIAK ENERGY, INC. (Registrant) Date: September 22, 2009 By: /s/ William S. TigheWilliam S. TigheChief Executive Officer & President
--------------------------------------------------------------------------------
When will we see .50's 60's .70's again....??? This should be there by now ! IMO
Good news out folks ! IMO 15 minutes ago ! Acquisition deal done and also it looks like they received another property because of a default from another company for failure to reach finance ?????? April 16th news mentioned Trivello ..I looked at the web site to see what properties KDKN is getting ????
http://www.trivello.com/operations/alexanderpropertyalberta/summary/default.aspx
Todays news....
CALGARY, ALBERTA -- October 5, 2009 -- Kodiak Energy, Inc. (TSX-V: KDK and OTCBB: KDKN.OB) ("Kodiak" or the "Corporation) announces that its majority controlled subsidiary, Cougar Energy, Inc. (Cougar), has closed the property acquisition previously announced on August 11, 2009 consisting of wells, facilities and production from a private company with operations in and adjacent to the CREEnergy project. Additional information on the property acquisition is on our website at http://www.kodiakpetroleum.com/s/AdditionalProjects.asp
The acquisition adds 2 producing wells, 4 suspended wells, and associated production facilities. The existing wells and reserves are located in the Kidney and Equisetum fields. Current gross production is approximately 20 barrels of oil per day. Based on the April 1, 2009 engineering report provided by the private company, the estimated Proved and Probable oil reserves are CAD$459,000 (net present value - 10%). Cougar will update the reserve report information as soon as possible.
This acquisition is funded with CAD$100,000 cash paid in installments over 18 months and the issuance of 155,000 common shares of Cougar at CAD$1.30 to the private company. The shares are subject to a two year escrow agreement.
Mr. Bill Tighe, CEO of Cougar, states, "We are excited about closing this acquisition and it is a strategic step for Cougar being able to commence active development in this core area, achieve timely production and cash flow. We have already started to advance our plan to build upon overall area production, infrastructure; provide substantial upside in workovers, secondary developments and drilling; along with the required financing. Cougar will be actively working this fall and winter to maximize those opportunities and increase production and thus revenue."
The issuance of shares is subject to final approval of the TSX Venture Exchange.
The Corporation also announces that Cougar's working interest partner in the Lucy project was unable to complete the financing to the agreement previously announced on April 16, 2009. As default payment, Cougar has accepted the transfer of the Alexander and Crossfield producing properties. The properties have an estimated average production of 15 barrels of oil equivalent per day. Cougar will update the reserve report information as soon as possible.
Ive seen these on several boards ! Thanks.. Even long term IMO things should do good here..... waiting to hear how much production was increased from wells towards of year...among other promising things :)
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Further information relating to Kodiak may be found on www.sedar.com and www.sec.gov as well as on Kodiak's website at http://www.kodiakpetroleum.com.
10Q 12-May-2008 ~ http://biz.yahoo.com/e/080512/kdkn.ob10-q.html
http://investorshub.advfn.com/boards/read_msg.asp?message_id=29199916
Kodiak Energy, Inc. (the "Company) is a publicly traded oil and gas exploration and development company. The Company and its subsidiaries Kodiak Petroleum ULC, Kodiak Petroleum (Montana), Inc. and Kodiak Petroleum (Utah), Inc. are focused on efficient development of oil and gas properties in Alberta, British Columbia, Montana and high impact prospects located in the central Mackenzie River Valley ("Little Chicago prospect") of the Northwest Territories ("NWT") in Canada, British Columbia and the Tucumcari Basin area in northeastern New Mexico. The Company operates in British Columbia under the assumed name of Kodiak Bear Energy, Inc.
http://www.kodiakpetroleum.com/s/Projects.asp
Kodiak Energy is World-Scale Exploration and Development in North America
With a large and diversified land position, which provides both long term high impact exploration potential and medium term development projects :
Little Chicago, NWT Project
Potential for significant exploration and development growth
N.E. New Mexico, U.S. Project
Triple upside through:
1. Developing a large CO2 resource
2. Secondary recoveries from "old" oil positions in the Permian Basin
3. Potentials for new oil and gas and helium on the project properties
Lucy, NE B.C. Project
Substantial long term upside through developing a high impact shale gas play close to existing infrastructure
N.E. Montana, U.S. Project
Shallow shale gas play for lower cost exploration and development
Corporate Office: Kodiak Energy, Inc.
Address: Suite 460, 734 7 Ave SW
Calgary, Alberta
Canada T2P 3P8
Telephone: 1+ (403) 262-8044
Fax: 1+ (403) 513-2670
Bankers: RBC Royal Bank
Address: Calgary, AB
Canada
Auditors: Meyers Norris Penny LLP
Address: Calgary, AB
Canada
The management team of Kodiak Energy, Inc. has extensive oil and gas exploration, development, financial and operations experience. As well, there are excellent working relationships with regulatory bodies both domestic and international. Senior contract services for Geology, Geophysics, and Development Engineering are sourced when required.
Mark Hlady
Position: Director, Chairman Of The Board
Mr. Hlady is an accomplished businessman and recognized name having served three terms as Member of the Legislative Assembly for Calgary-Mountain View of Alberta from June 1993 to November 2004. During his term in the Alberta Legislature Mr. Hlady served on many oil & gas and energy related committees including; Chair of the Standing Policy Committee on Energy and Sustainable Development for the Province of Alberta, Standing Policy Committee for Natural Resources of Alberta, Canadian Energy Research Institute (CERI),US Energy Council - Foreign Representative (Canada), Alberta Representative to the Alaska Highway Pipeline Committee, Alberta/Alaska Bilateral Council and Government Representative to the Alberta Land Surveyors Association. Mr. Hlady has a Bachelor of P.ED from the University of Calgary.
Wm S (Bill) Tighe
Position: Director, Chief Executive Officer, Chief Operating Officer and President
Mr. Tighe's past experience involves more than 30 years in Operations, Maintenance, C&SU, Management and more recently Major/Minor Projects for both Canadian and other International Oil Companies. These experiences were in a variety of field settings from heavy oil in situ, sour gas/liquids plants in Alberta/British Columbia and the sub arctic, design offices, construction, Commissioning and Start up/ operation of large gas/liquids processing in South East Asia. From 2004-2006, Mr. Tighe worked for Suncor Energy Ltd. as a Business Services/Integration Manager of the Growth Planning and Development Group. From 2000 until 2004 Mr. Tighe worked for Petro China International as Operations Development and Commissioning Manager Jabung. Mr. Tighe attended the University of Calgary where he studied general science and computer science. He holds an Inter-Provincial Power Engineering Certification II Class.
Glenn Watt
Position: Director, Vice President Operations
Mr. Glenn Watt was the drilling and completions superintendent for a large royalty trust. He has worked primarily in the Western Canadian Sedimentary Basin. Prior to his current position Mr. Watt worked for other major oil & gas companies as a completions superintendent. He has additional field experience working on drilling rigs in Alberta and British Columbia.
Mr. Watt has an honours diploma in Petroleum Engineering Technology from the Northern Alberta Institute of Technology and a Bachelor of Applied Petroleum Engineering Technology Degree from the Southern Alberta Institute of Technology.
William E. Brimacombe
Position: Chief Financial Officer
Mr. Bill Brimacombe is a Chartered Accountant with over 35 years of financial management and reporting experience in the oil and gas industry. From 2001 until joining Kodiak, Mr. Brimacombe was the Vice-President Finance with AltaCanada Energy Corp., a public oil and gas company with interests in Alberta and Montana. Prior to that Mr. Brimacombe has held positions with various public oil and gas companies as Treasurer, Controller and Financial consultant. Mr. Brimacombe is a member of the Institute of Chartered Accountant of Alberta.
Peter A Schriber
Position: Director
Commerce degree from Switzerland.
30+ years of management positions in banking sector.
Graduated as a Fellow of the Institute of Canadian Bankers.
Fellow in good standing with the Canadian Bankers association.
Vice president and Manager of Corporate Lending at a Swiss Bank in Canada - Retired.
Director and Partner of a large Vancouver Stock brokerage Securities firm.
Extensive experience in merchant and commercial banking, specializing in corporate finance.
Completed numerous financings, and private placements in Europe and North America. Mr. Schriber has established a large financial and institutional clientele in Switzerland.
Independent financial consultant, managing private investor's portfolios, institutional and private investors, active in acquisitions and mergers including in raising equity and debt funds for private and public companies.
Marvin J. Jones
Position: Director
Over 45 years of domestic and International Oil/Gas experience.
30 years at the management level with the drilling/work over contracting industry.
Recent and past assignments:
President of Trinidad Drilling
VP of Challenger International Services
VP of Thomson Industries
CAODC Honorary Life Membership Award
President of CAODC, and many other charitable and sports public organizations
Advisors to Board
Peter Gross
Peter Boyd
Greg Cave
Outstanding
106.7 mil
Float
77.9 mil
http://stockguru.com/profiles/hybr/news.php?qm_page=15399
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