In the Vermillion Basin of the Greater Green River Basin of Wyoming and northern Colorado, Kodiak explores for tight gas sands and shales, primarily the Baxter shale and deeper Frontier and Dakota sandstones.  These formations range from 10,000’ to 14,000’ in depth.  In the first quarter 2008, Kodiak signed an exploration agreement with a super-independent oil and gas company whereby Kodiak will have up to three Baxter shale tests drilled by its partner at its partner’s sole cost and risk.  As part of the agreement, Kodiak is carried with a proportional 50% working interest these wells.  The partner will drill to earn 50% of certain of Kodiak’s leasehold in the Vermillion Basin core area.  Gathering, processing and pipeline infrastructure are in close proximity to its operations.  At March 31, 2008, Kodiak controls over 16,000 net mineral acres in the basin.

Click map to see Green River detail