CALGARY, ALBERTA--(Marketwire - Dec. 15, 2011) - PetroBakken Energy Ltd. ("PetroBakken") (TSX:PBN) is pleased to announce that our cash dividend for the month of December will be paid on January 16, 2012 to all PetroBakken shareholders of record on December 31, 2011. The December dividend will be $0.08 per PetroBakken share. The ex-dividend date is December 28, 2011.

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 PLEASE CONTACT:

John D. Wright
PetroBakken Energy Ltd.
President and Chief Executive Officer
403.268.7800
403.218.6075 (FAX)

OR

Peter D. Scott
PetroBakken Energy Ltd.
Senior Vice President and Chief Financial Officer
403.268.7800
403.218.6075 (FAX)

OR

R. Gregg Smith
PetroBakken Energy Ltd.
Senior Vice President and Chief Operating Officer
403.268.7800
403.218.6075 (FAX)

OR

William A. Kanters
PetroBakken Energy Ltd.
Vice President Capital Markets
403.268.7800
403.218.6075 (FAX)

OR

Eighth Avenue Place, 2800, 525 - 8th Avenue S.W.
PetroBakken Energy Ltd.
Calgary, Alberta T2P 1G1
ir@petrobakken.com
www.petrobakken.com