KOG Areas of Interest -- Update April 27, 2010

Kodiak Oil and Gas, Inc., has four areas of interest in the Bakken.

According to their current presentation (I don't know if these links break/change over time; this is the April, 2010, presentation),  these are the four areas in the Bakken where Kodiak has leases. Three of the four areas are in North Dakota; the fourth is in Montana, just across the border from ND.

FBIR Bakken / Three Forks / Dunn County, North Dakota

55,000 / 35,000 (gross / net) acres
Bakken producers
Additional producers: TFS
Entirely within the Fort Berthold Indian Reservation (FBIR)
This area is located in the southwest corner of the FBIR
Gross acreage represents almost 10 percent of the reservation (personal estimated observation)
This appears to be KOG's most active area at the present time
Within this area of operations, KOG identifies six "prospects"

Two Shields Butte:  partner XTO (50/50)
Saddle Butte: partner XTO (50/50)
Skunk Creek: partner private company (60/40)
Moccasin Creek: partner private company (60/40)
Charging Eagle:  no partners identified
Tall Bear: no partners identified

Koala (North Dakota)

5,680 / 4,531 (gross/net) acres
Bakken/TFS -- west of Nesson
This is the four-corner area of townships: 152-100, 152-99, 151-100, and 151-99
This is located just south of the river, northeast of Alexander
If I read the various maps correctly, County Road 29 runs right through KOG's immediately south of the river
Acquired in April, 2010: represents about 8 sections total
KOG: "heart of McKenzie County play"

Will ask NDIC for six (6) 1280-acre spacing units
Request two to three well bores per 1280-acre spacing unit
Total: 12 - 18 gross Bakken locations

Red River - Mission Canyon Play / Other Williston Basin / Montana

22,600 net acres
Bakken / TFS potential
Red River / Mission Canyon
In Sheridan County (Montana) and Divide County (North Dakota) -- north of Williams County (Williston)
KOG's acreage appears to be entirely inside Montana, just west of the ND border

I don't follow activity in Montana (I don't have time) but KOG recently took delivery of its second rig. KOG now has one rig in ND and one rig in Montana. The rig in Montana is currently drilling a vertical well into the Red River formation.

Grizzly (Elm Coulee Bakken Trend) / North Dakota

3,907 / 3,419 (gross/net) acres
Existing Bakken producers
Additional Bakken / TFS
KOG's acres within Elm Coulee is on the North Dakota side of the border, McKenzie County, between Sidney, MT, and Alexander, ND
Acquisition in April 2010 increased working interest to 87.5% on 3,900 gross acres
Two existing producing wells

16162, Kodiak Grizzly 13-6H, 6-147-104
16300, Grizzly Federal 1-27H, 27-148-105

Two new wells planned for Q210

xxxxx, Grizzly Federal 13-6H, 6-147-104 (no permit yet)
18923, Grizzly Federal 1-27H-R