PetroBakken Confirms January Dividend

Tue Jan 15, 2013 7:09pm EST

* Reuters is not responsible for the content in this press release.

  CALGARY, ALBERTA, Jan 15 (MARKET WIRE) --
PetroBakken Energy Ltd. ("PetroBakken") (TSX:PBN) is pleased to announce
that our cash dividend for the month of January will be paid on February
15, 2013 to all PetroBakken shareholders of record on January 31, 2013.
The January dividend will be $0.08 per PetroBakken share. The ex-dividend
date is January 29, 2013.

    PetroBakken is pleased to provide two convenient cost-effective methods
for shareholders to increase their investment in PetroBakken. The Share
Dividend Plan ("SDP") is now available to most shareholders, enabling
shareholders to receive dividends in the form of common shares at a 5%
discount to the average market price. While similar to our Dividend
Reinvestment Plan ("DRIP"), the SDP has certain tax attributes which may
be more attractive to some shareholders. The DRIP remains available to
Canadian shareholders, enabling such shareholders to reinvest their
monthly cash dividend to acquire additional common shares at a 5%
discount to the average market price. For further information regarding
our SDP and DRIP, please visit PetroBakken's website at
www.petrobakken.com or contact Olympia Trust Company at 403-668-8887,
toll free at 1-800-727-4493 or via email at
corporateactions@olympiatrust.com.

    PetroBakken Energy Ltd. is an oil and gas exploration and production
company combining light oil Bakken and Cardium resource plays with
conventional light oil assets, delivering industry leading operating
netbacks, strong cash flows and production growth. PetroBakken is
applying leading edge technology to a multi-year inventory of Bakken and
Cardium light oil development locations. Our strategy is to deliver
accretive production and reserves growth, along with an attractive
dividend yield.

Contacts:
PetroBakken Energy Ltd.
John D. Wright
President and Chief Executive Officer
(403) 268.7800

PetroBakken Energy Ltd.
Peter D. Scott
Senior Vice President and Chief Financial Officer
(403) 268.7800

PetroBakken Energy Ltd.
Bill A. Kanters
Vice President, Capital Markets
(403) 268.7800
ir@petrobakken.com
www.petrobakken.com

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