Kodiak Energy, Inc. (KDKN)

[Mr B]

Cougar news: July 19, 2010, 2:10 a.m. EDT · Recommend · Post:

Cougar Oil and Gas Canada Inc. Reactivates Suspended Alexander Oil Prospect
CALGARY, ALBERTA, Jul 19, 2010 (MARKETWIRE via COMTEX) -- Cougar Oil and Gas Canada Inc. ("Cougar Canada" or the "Corporation") /quotes/comstock/11k!coug.f (COUGF 1.60, 0.00, 0.00%) is pleased to announce the successful integrity tests, repair and reactivation of the suspended oil property in the Alexander field.

The property, which is setup as a single well battery, is located in north central Alberta and was acquired in Q4, 2009 as a result of a default by the partner in the Lucy project on a farm-in commitment. When Cougar Canada acquired the property both the pumpjack and the battery needed repairs and general maintenance before the well could be started up and put on production. The repair and startup operations were deferred until after spring breakup to avoid extra costs and potential equipment damage that could result from doing this work in the colder winter weather.

Mr. William Tighe, Chief Executive Officer for Cougar Canada, stated, "We are pleased that the Alexander oil well has resumed production. The repair operations were finished in June and the net production has stabilized at a rate of approximately 15 barrels of oil per day. We will continue to monitor the production and look for ways to optimize operations and lower operating costs as we have done with our Trout Core area. As a result of the new production from Alexander, Cougar Canada's total net production now exceeds 230barrels of oil per day."

About Cougar Oil and Gas Canada Inc.:

Cougar Oil and Gas Canada Inc. /quotes/comstock/11k!coug.f (COUGF 1.60, 0.00, 0.00%) is based in Calgary, Alberta, Canada and a publicly traded oil and gas exploration and production company. 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 is at http://www.cougarenergyoilandgascanadainc.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 Company's business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Cougar Oil and Gas Canada Inc. undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.


Contacts:
Cougar Oil and Gas Canada Inc.
Investor Relations: TC Capital
[phone] (during market hours)
[e-mail]
www.cougarenergyoilandgascanadainc.comwww.cougarenergyinc.com





SOURCE: Cougar Oil and Gas Canada Inc.

mailto:[e-mail]
http://www.cougarenergyoilandgascanadainc.comhttp://www.cougarenergyinc.com