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Press release from Marketwire

PetroBakken Announces Departure of Senior Vice President and Chief Operating Officer

Wednesday, April 04, 2012

PetroBakken Announces Departure of Senior Vice President and Chief Operating Officer12:49 EDT Wednesday, April 04, 2012CALGARY, ALBERTA--(Marketwire - April 4, 2012) - PetroBakken Energy Ltd. (the "Company" or "PetroBakken") (TSX:PBN) announces that R. Gregg Smith, Senior Vice President and Chief Operating Officer of PetroBakken, will be resigning from the Company effective April 5, 2012. Mr. Smith has held a number of positions during his tenure at PetroBakken and previously at Petrobank Energy and Resources Ltd."On behalf of PetroBakken, I would like to thank Gregg for his significant contributions to the establishment of Petrobank's Canadian Business Unit, the spin-out of PetroBakken and the continued growth of PetroBakken's asset base, and we wish him all the best in his future endeavours" said John D. Wright, President and Chief Executive Officer. 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) 268-7800ORBill A. KantersPetroBakken Energy Ltd.Vice President Capital Markets(403) 268-7800ir@petrobakken.comwww.petrobakken.com