Kodiak Energy, Inc. and Subsidiary Cougar Energy, Inc. Announces Closing of Property Acquisition

Kodiak Energy, Inc. (TSX VENTURE:KDK)(OTCBB:KDKN) ("Kodiak" or the "Corporation)
announces that its majority controlled subsidiary, Cougar Energy, Inc. (Cougar),
has closed the property acquisition previously announced on August 11, 2009
consisting of wells, facilities and production from a private company with
operations in and adjacent to the CREEnergy project. Additional information on
the property acquisition is on our website at
http://www.kodiakpetroleum.com/s/AdditionalProjects.asp.


The acquisition adds 2 producing wells, 4 suspended wells, and associated
production facilities. The existing wells and reserves are located in the Kidney
and Equisetum fields. Current gross production is approximately 20 barrels of
oil per day. Based on the April 1, 2009 engineering report provided by the
private company, the estimated Proved and Probable oil reserves are CAD$459,000
(net present value - 10%). Cougar will update the reserve report information as
soon as possible.


This acquisition is funded with CAD$100,000 cash paid in installments over 18
months and the issuance of 155,000 common shares of Cougar at CAD$1.30 to the
private company. The shares are subject to a two year escrow agreement.


Mr. Bill Tighe, CEO of Cougar, states, "We are excited about closing this
acquisition and it is a strategic step for Cougar being able to commence active
development in this core area, achieve timely production and cash flow. We have
already started to advance our plan to build upon overall area production,
infrastructure; provide substantial upside in workovers, secondary developments
and drilling; along with the required financing. Cougar will be actively working
this fall and winter to maximize those opportunities and increase production and
thus revenue."


The issuance of shares is subject to final approval of the TSX Venture Exchange.

The Corporation also announces that Cougar's working interest partner in the
Lucy project was unable to complete the financing to the agreement previously
announced on April 16, 2009. As default payment, Cougar has accepted the
transfer of the Alexander and Crossfield producing properties. The properties
have an estimated average production of 15 barrels of oil equivalent per day.
Cougar will update the reserve report information as soon as possible.


About Cougar:

Cougar Energy, Inc. is based in Calgary, Alberta Canada and a privately held
subsidiary of parent company, Kodiak Energy, Inc. 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 on the "Lucy" and CREEnergy projects are
available at http://www.cougarenergyinc.com.


About Kodiak:

Kodiak Energy, Inc. is a Calgary, Alberta, Canada based publicly traded oil and
gas exploration and development company focused on developing and exploring
onshore oil, gas and CO2 properties within North America. Our main prospect is
located in the northeast New Mexico. Through our private subsidiary, Cougar
Energy, Inc., we are developing the projects of Lucy in the Horn River Basin in
northeast British Columbia and CREEnergy Joint Venture and area projects located
in north central Alberta. Additional information on Kodiak is at
http://www.kodiakpetroleum.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
Corporation's business is subject to various other risks and uncertainties,
which may be described in its corporate filings (www.sec.gov and 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. Kodiak undertakes no obligation to update
or publicly revise forward looking statements or information unless so required
by applicable securities laws.