The Company’s Williston Basin acreage is prospective for crude oil in eastern Montana and western North Dakota. Exploration is focused on three separate plays, the Bakken shale, Mission Canyon and Red River “C.”

• At March 31, 2008, Kodiak owns or controls over 35,000 net mineral acres on the Fort Berthold Reservation in Dunn County, North Dakota.  The leasehold is prospective for Bakken shale oil production.  In April 2008, The United States Geological Survey released an assessment of undiscovered oil resources for the regionally extensive Bakken shale play of 3 billion to 4.3 billion barrels of recoverable oil.  Kodiak will allocate the majority of its 2008 capital budget to drilling Bakken shale oil wells.

          Click image to view the USGS Bakken           Assessment (pdf)

• Kodiak’s additional Williston projects include the Wrangler Project in Sheridan County, Mont. which is a Mission Canyon Formation oil play; The Great Bear Prospect in Divide County, N.D. which targets stratigraphically trapped Red River “C” oil accumulations by utilizing modern, horizontal drilling technologies to increase the chance of optimum hydrocarbon recovery; and  the Grizzly Prospect in McKenzie County, N.D.  which targets Bakken shale oil.
  

Click map to see Williston detail