Kodiak Energy, Inc.- New Mexico Operations Update- Seismic Acquisition Complete
Kodiak Energy, Inc. (TSX VENTURE: KDK) and (OTCBB: KDKN) ("Kodiak" or
the "Corporation") is pleased to provide an operations update relative
to its New Mexico project.
The New Mexico exploration program, located in northeastern New
Mexico, continues to be on schedule. The program consists of drilling,
testing and seismic operations. Kodiak is operator and 100% working
interest owner of this high impact project, currently comprising
approximately 62,000 acres with signed letters of intent to purchase
another 24,000 acres.
To date, three wells have been drilled, cased and the completion
program underway. Besides the expected high quality CO2, early gas
tests also show helium, which is used in medical, science, technology
and fabrication industries in addition to space programs. An
engineering report has been commissioned and is anticipated
approximately the end of May.
The 38 mile seismic program was completed April 20, 2008 and the data has been sent to the labs for processing.
Target dates are subject to change as new information becomes available.
About Kodiak
Kodiak Energy, Inc. is a Calgary based publicly traded oil and gas
development company focused on creating a portfolio of North American
assets that offer production opportunities and asset growth through
exploration. Kodiak has lease holdings in Montana, southeastern
Alberta, northeastern Alberta and high impact prospects located in the
central Mackenzie River Valley of the Northwest Territories, Canada and
in northeastern New Mexico.
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."
Actual results could differ materially from those projected in the
Corporation's proposed oil and gas related business. The Corporation's
business is subject to various risks, which are discussed in the
Corporation's filings with the US Securities and Exchange Commission
and with Canadian securities commissions. The Corporation's filings may
be accessed at www.sec.gov or at 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. Unless
otherwise required by applicable law, we do not undertake, and we
specifically disclaim any obligation, to update any forward-looking
statements to reflect occurrences, developments, unanticipated events
or circumstances after the date of such a statement.
