PetroBakken Announces Share Position in Junior Oil Producer

Fri Jan 18, 2013 6:30am EST

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Marketwire

PetroBakken Energy Ltd.

January 18, 2013 - 06:30:00 AM

PetroBakken Announces Share Position in Junior Oil Producer

CALGARY, ALBERTA--(Marketwire - Jan. 18, 2013) - PetroBakken Energy Ltd.
("PetroBakken") (TSX:PBN) announces that we have acquired 4,786,700 common
shares of TriOil Resources Ltd. ("TriOil") at an average price of $2.87 per
share. These shares, which represent approximately 7.5% of the issued and
outstanding shares of TriOil, were acquired through the facilities of the CNSX
Pure Trading exchange. As a result of this acquisition, PetroBakken now owns
11,050,330 common shares of TriOil, representing approximately 17.3% of the
total issued and outstanding common shares of TriOil as of the date hereof, on
a non-diluted basis.  

PetroBakken jointly owns lands, producing oil wells, and facilities with
TriOil in the Lochend area of our Cardium business unit. We acquired the
TriOil shares for investment purposes, and our holdings may be increased or
decreased in the future, depending upon economic or market conditions or
matters relating to TriOil.   

An Early Warning Report detailing this ownership position will be filed on the
System for Electronic Document Analysis and Review ("SEDAR") and can be viewed
at www.sedar.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,
along with a significant inventory of opportunities in the Horn River and
Montney gas resource plays in northeast BC. Our strategy is to deliver
accretive production and reserves growth, along with an attractive dividend
yield.

FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT
REFERRED TO HEREIN, PLEASE CONTACT: 

FOR FURTHER INFORMATION PLEASE CONTACT: 
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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