CALGARY, ALBERTA -- (MARKET WIRE) -- July 14, 2009 -- Kodiak Energy, Inc. (TSX-V: KDK and OTCBB: KDKN.OB) ("Kodiak" or the "Corporation) announces that its majority controlled private subsidiary, Cougar Energy, Inc., has funded and completed the requirements of the "exclusivity contract" of the CREEnergy Oil and Gas Inc. agreement announced on December 1, 2008.  Information on the CREEnergy project is located at http://www.cougarenergyinc.com .

The agreement provides for an "exclusivity contract" with CREEnergy for oil and gas properties for up to 15 townships or 345,000 gross acres of mineral rights in north central Alberta, Canada.  The initial leases, as outlined in the agreement, are for mineral rights on a total of 46,000 gross acres for a lease term of 10 years.  As the project moves forward, additional leases will be identified and added to the joint venture.

Cougar is working with CREEnergy to identify, prioritize and nominate the first mineral rights that will be leased, and finalizing the initial development plans for the fall/winter of 2009, which will include the evaluation of 4 to 6 high priority targets. &nb