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Press release from Marketwire

PetroBakken Confirms January Dividend

Monday, January 17, 2011

PetroBakken Confirms January Dividend16:07 EST Monday, January 17, 2011CALGARY, ALBERTA--(Marketwire - Jan. 17, 2011) - PetroBakken Energy Ltd. ("PetroBakken" or the "Company") (TSX:PBN) is pleased to announce that our cash dividend for the month of January will be paid on February 15, 2011 to all PetroBakken shareholders of record on January 31, 2011. The January dividend will be $0.08 per PetroBakken share. The ex-dividend date is January 27, 2011.PetroBakken Energy Ltd. is a premier light oil production company combining, high growth, long-life Bakken reserves and production with legacy 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 PLEASE CONTACT: John D. WrightPetroBakken Energy Ltd.Chairman of the Board and Chief Executive Officer403.750.4400ORR. Gregg SmithPetroBakken Energy Ltd.President and Chief Operating Officer403.750.4400ORPeter D. ScottPetroBakken Energy Ltd.Senior Vice President and Chief Financial Officer403.750.4400ORWilliam A. KantersPetroBakken Energy Ltd.Vice President Business Development and Corporate Planning403.750.4400ir@petrobakken.comwww.petrobakken.com