Kodiak Energy, Inc. (KDKN)

[Mr B]

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
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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: [phone]Email: [e-mail]: www.sism.com/orKodiak Energy, Inc.William Tighe, 403-262-8044President and CEOEmail: [e-mail]: www.kodiakpetroleum.comorInvestrend ResearchDiv. Investrend Communications, Inc.R. Hempel, [e-mail]://www.investrend.com