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Press release from Marketwire

PetroBakken Confirms January Dividend

Monday, January 16, 2012

PetroBakken Confirms January Dividend17:55 EST Monday, January 16, 2012CALGARY, ALBERTA--(Marketwire - Jan. 16, 2012) - 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, 2012 to all PetroBakken shareholders of record on January 31, 2012. The January dividend will be $0.08 per PetroBakken share. The ex-dividend date is January 27, 2012.Canadian shareholders are eligible for participation in PetroBakken's previously announced Dividend Reinvestment Plan ("DRIP") with respect to the January dividend. Registered shareholders can enroll in the DRIP by delivering a completed enrolment and authorization form to Olympia Trust Company ("Olympia"). Shareholders whose shares are held through a broker, investment dealer or other financial intermediary, commonly referred to as beneficial shareholders, must either direct such intermediary to enroll their shares in the DRIP, or withdraw the shares from such intermediary, deposit those shares directly with Olympia, and then complete the enrolment and authorization form.Further information in respect of the DRIP, including the enrolment and authorization form, can be accessed on our website at www.petrobakken.com, or by contacting Olympia at 403-668-8887, toll free: 1-800-727-4493 or via email at corporateactions@olympiatrust.com. Enrolment and authorization forms must be received at Olympia by no later than 3:00 p.m. (Calgary time) on January 30, 2012 (being the business day prior to the record date) in order to participate in the DRIP for the January dividend.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. WrightPetroBakken Energy Ltd.President and Chief Executive Officer(403) 268.7800ORPeter D. ScottPetroBakken Energy Ltd.Senior Vice President and Chief Financial Officer(403) 268.7800ORR. Gregg SmithPetroBakken Energy Ltd.Senior Vice President and Chief Operating Officer(403) 268.7800ORWilliam A. KantersPetroBakken Energy Ltd.Vice President Capital Markets(403) 268.7800ir@petrobakken.comwww.petrobakken.com