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Press release from Marketwire

PetroBakken Confirms March Dividend

Thursday, March 15, 2012

PetroBakken Confirms March Dividend18:03 EDT Thursday, March 15, 2012CALGARY, ALBERTA--(Marketwire - March 15, 2012) - PetroBakken Energy Ltd. ("PetroBakken") (TSX:PBN) is pleased to announce that our cash dividend for the month of March will be paid on April 16, 2012 to all PetroBakken shareholders of record on March 31, 2012. The March dividend will be $0.08 per PetroBakken share. The ex-dividend date is March 28, 2012. PetroBakken recently announced a Dividend Reinvestment Plan ("DRIP") that provides a convenient and cost-effective method for eligible shareholders to increase their investment in PetroBakken by reinvesting their monthly cash dividend to acquire additional common shares of PetroBakken. For further information regarding our 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, 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) 268.7800OREighth Avenue Place, 2800, 525 - 8th Avenue S.W.PetroBakken Energy Ltd.Calgary, Alberta T2P 1G1403.268.7800403.218.6075 (FAX)ir@petrobakken.comwww.petrobakken.com