Research, Report & Profiling Services by IPOdesktop.com Kodiak Energy Inc. (KDKN.OB) Stock symbol: KDKN.OB….………….….…..Average volume (3mos): 59,612

Stock price 6/16/06: $2.50…….……………..……..Common shares: 88.6mm 52-week price range: $.16 - $4.05..…...Equity market capitalization: $92mm

Recent News…..Stock Price…..Chart…..SEC Filings

Listen: Interview with William Tighe, President

Watch: KDKN Virtual Road Show

BUSINESS

Producing oil wells in easily developed properties directly and/or through participation in joint venture projects with other operators in Alberta , Montana, Utah and California

Oil development contracts signed and initial funding in place (see below)

Experienced management team, Strong diversified portfolio of assets

Potentially $13/share in reserves

according to Ernest C.Schotter, analyst with SISM Research & Investment Services

"Once fully developed, KDKN could unlock more than 528 Bcfe (billion cubic feet of natural gas equivalent)in potential reserves and book $1.2 billion in reserves ($13/share)"

"12-Month Price Target $4.00 By Investrend Affiliate, SISM Research," said Ernest C.Schotter, analyst with SISM Research & Investment Services in a May 17 report (click-for-SISM research)

INDUSTRY TRENDS

The rising price of crude oil and of natural gas renders a positive outlook for most domestic Exploration &Production companies who are leveraged to crude oil and natural gas in their asset mix.

In recent years, advanced, innovative technology on the exploration side of the Exploration & Production business has resulted in a sharp upswing in discovery rates.

Today, approximately eighty-five percent of newly drilled wells find hydrocarbons.

KDKN SUMMARY

KDKN has acquired leaseholds in Montana with at least 210 drilling targets and

Two leases in Alberta with the potential of more than 150 drilling locations.

Giving Kodiak between 362 - 572 low-cost drilling opportunities that will drive production and reserve growth for the next few years.

Kodiak now has more than 1,162 drilling opportunities that are expected to drive production and reserve growth for the next few years.

Just recently, Kodiak signed a LOI to acquire 22% of a heavy oil project in the Uinta Basin in Utah with drill-proven heavy oil sands reserves of 100 million barrels and a probable heavy oil sands reserve of 700 million barrels.

Development objectives

Initial Development: 400-500 boe/day (barrels of oil equivalents per day)

Second phase: incremental development based on core properties with a target of 1000 boe/day (barrels of oil equivalents per day) by the second year

-----------------------------------------------------------------------

Address: 734 7th Avenue S.W, Calgary, AB T2P 3P8, Canada

Telephone: 403-262-8060

President: William Tighe

Web Site: http://www.kodiakpetroleum.com

State or other jurisdiction of incorporation or organization: DE

Transfer Agent: Olde Monmouth Stock Transfer Co

Investor contact: Mark Hlady, CEO, (403) 262-8044

-----------------------------------------------------------------------

RECENT DEVELOPMENTS

> Kodiak Prepares for Closing of Joint Venture to Acquire Over 800 Million Proven and Probable Reserves of Heavy Oil in the Uinta Basin Heavy Oil Project-- June 13

The leases are estimated to contain a drill proven heavy oil sands reserve of 100 million barrels and a probable heavy oil sands reserve of 700 million barrels.

Kodiak has reserved the issuance of 800,000 common shares at a share price of $2.50 per share to satisfy the $2,000,000.00 share component of the $4,000,000 transaction with Flair Petroleum Inc., – Net participation by KDKN – 22%

The transaction is expected to close in the near term

> Project No. 2 (see below for more description) Province – Southeast Alberta Shallow Gas Prospect

Recent Developments – June 15

The first well has been successfully drilled, cased and tested – a 48 hr test showed excellent results in the primary target zone. From the drilling logs, there is at least one additional zone with good gas pay.

Expected risked results are production rates of up to 0.75 to 2 MMcf/d per well .

This well will be tied in as soon as possible, and additional drilling locations developed. Potentially 4 per section for a total of 8.

GAS & OIL PROSPECTS

Project No.1 - Montana - Shallow Gas/Oil Prospect

(signed off and initial funding in place)

Kodiak has signed a farmin/JV on 135,000 acres

An extensive gravity acquisition program revealed that the acreage is highly prospective for natural gas from multiple formations, with the primary objective being the Sawtooth Formation. On the basis of the gravity data, a 25 mile 2D seismic program has been performed prior to undertaking a 4 well drilling program.

Kodiak Petroleum (Montana) Inc. has committed to pay 100% of the capital costs of the seismic and 3-4 well drilling program of the initial phase. The expected initial gross production rates are 0.5 - 1.0 MMcf/d per well with recoverable gross reserves of 2 to 5 Bcf per well.

Seismic acquisition has been completed with full analysis underway. 3 drill locations have been identified by the analysis.

Drilling to commence Q2 2006

Subsequent to the drilling, any successful wells will be tied into existing facilities in the third quarter of 2006.

Project No. 2 Province – Southeast Alberta Shallow Gas Prospect

(signed off and initial funding in place)

Kodiak Energy Inc, in conjunction with a JV partner, has successfully bid and paid for 2 sections at a recent land sale. 2D seismic was acquired.

Recent Developments – June 15

The first well has been successfully drilled, cased and tested – a 48 hr test showed excellent results in the primary target zone. From the drilling logs, there is at least one additional zone with good gas pay.

Expected risked results are production rates of up to 0.75 to 2 MMcf/d per well .

This well will be tied in as soon as possible, and additional drilling locations developed. Potentially 4 per section for a total of 8.

Project No. 3 Manyberries - Southeast Alberta Shallow Gas Prospect

(signed off and initial funding in place)

Recent Development, April 25:

. Two wells were drilled and cased to the 2d whitespec. Initial logs review, show good gas potential in multiple zones. The wells will be completed, stimulated and tested in Q2 to further evaluate the potential reservoir. This will be done in conjunction with an evaluation program on the existing well on the property.

. After reviewing the results, the company is evaluating a seismic program to maximize results from succeeding drill programs planned for Q4, 2006. An additional 3-5 well drilling program will be undertaken during the winter of 2006/07

. Expects tie in to gas lines in the 2d quarter 2007

Kodiak Petroleum ULC farmed in on 9 sections of contiguous, undeveloped land in the extreme southeast of Alberta, which are prospective for oil and natural gas in multiple formations. The land block is in close proximity to a mature field that has produced several million barrels of oil as well as newly developing shallow gas plays.

A farm in agreement has been negotiated by Kodiak to pay outstanding licensing fees, and initiate a well shallow gas drilling program in Q1 & Q2, 2006. 2 wells were drilled and cased in March 2006. Log analysis shows several potential gas zones suitable for development. Kodiak will earn a 100% working interest and become operator of the properties in return for a gross overriding royalty.

An economic base will be then established to further develop the properties with facilities and pipelines.

Future development will include infill shallow gas drilling,3D seismic to prove the existence of deeper oil plays and the development of those reserves.

Expected risked results are Net production rates of up to .5 MMcf/d per well and recoverable reserves of up to 2 Bcf per well

Project No 4. Uinta Basin - Utah Development Prospect

See ‘Recent Developments’ above

Kodiak Prepares for Closing of Joint Venture to Acquire Over 800 Million Proven and Probable Reserves of Heavy Oil in the Uinta Basin Heavy Oil Project – Net participation by Kodiak – 22%

Kodiak will spend $2,000,000.00 to cover the costs of preliminary engineering , geological work, reports and studies on the Utah assets. This work should take 18 to 24 months to complete. Upon completion of these studies and work, Kodiak will issue $2,000,000 payable in common shares of the company to Reibanc USA, Inc. When detailed design, construction and operations commences Kodiak will pay its proportionate share of the costs of the project.

The leases are estimated to contain a drill proven heavy oil sand reserve of 100 million barrels and a probable heavy oil sand reserve of 700 million barrels.

The gravity of Utah heavy oil ranges from 8 degrees to 14 degrees API, which is comparable to that of the Athabasca oil sands of Alberta. Recent improvements in handling and refining heavy oil are expanding its marketability.

Specifically, the Utah heavy oil has an important quality advantage: a sulphur content of only 0.4% to 0.7%, compared to a typical sulphur content of 4.8% for Athabasca heavy oil. This low sulphur content will make it easier to upgrade and to market.

This strategic partnership agreement aligns two management teams with over 200 years of combined oil and gas work experience as well as production facilities and infrastructure expertise.

Uinta Production Plan

The JV partner plans to upgrade and produce the Uinta heavy oil using a modern in-situ combustion or "fire flood" recovery process with a Phase I production rate of 10,000 barrels of oil per day. Initial production is scheduled for the first quarter of 2008.

Subject to confirming probable reserves, a longer-term target of 50,000 bbl/d is envisaged. The JV partner acquired two mineral leases in the heart of the Asphalt Ridge area near Vernal.

Subject to successful conclusion of preliminary studies, as well as raising an estimated $70 million for project financing, drilling and construction are planned to commence during the third quarter of 2006 with twenty wells drilled during the fourth quarter of 2006 and the first quarter of 2007, with completion scheduled during the second quarter of 2007 and the start of production during the fourth quarter of 2007.

The Heavy Oil JV is designed to upgrade and produce the Uinta heavy oil deposit using modern in-situ combustion recovery methods with a Phase I production rate of 10,000 barrels of oil per day and operation costs of approx. $12 per barrel

Potential upcoming projects

Kodiak is also negotiating participation in a development program on an immediately adjoining 9,600 undeveloped acres in Eagle Butte in Southeast Alberta. This development program is scheduled for the second half of 2006.

BOARD OF DIRECTORS

Mark Hlady - Director, Chairman Of The Board, Chief Executive Officer.

Mr. Hlady is an accomplished businessman and recognized name having served three terms as Member of the Legislative Assembly for Calgary-Mountain View of Alberta from June 1993 to November 2004.

During his term in the Alberta Legislature Mr. Hlady served on many oil & gas and energy related committees including; Chair of the Standing Policy Committee on Energy and Sustainable Development for the Province of Alberta, Standing Policy Committee for Natural Resources of Alberta, Canadian Energy Research Institute (CERI),US Energy Council - Foreign Representative (Canada), Alberta Representative to the Alaska Highway Pipeline Committee, Alberta/Alaska Bilateral Council and Government Representative to the Alberta Land Surveyors Association. Mr. Hlady has a Bachelor of Physical Education from the University of Calgary.

Wm S (Bill) Tighe – Director, Chief Operating Officer and President.

Mr. Tighe's past experience involves more than 30 years in Operations, Maintenance, C&SU, Management and more recently Major/Minor Projects for both Canadian and other International Oil Companies.

These experiences were in a variety of field settings from heavy oil in situ, sour gas/liquids plants in Alberta/British Columbia and the sub artic, design offices, construction, Commissioning and Start up/ operation of large gas/liquids processing in South East Asia. Since 2004 Mr. Tighe has worked for Suncor Energy Ltd. as a Business Services/Integration Manager of the Growth Planning and Development Group.

From 2000 until 2004 Mr. Tighe worked for Petro China International as Operations Development and Commissioning Manager Jabung. Mr. Tighe attended the University of Calgary where he studied general science and computer science. He holds an Inter provincial Power Engineering Certification II Class.

Other Board of Directors

Glen Watt, – Director

Mr. Glenn Watt is currently the drilling and completions superintendent for a large royalty trust. He has worked primarily in the Western Canadian Sedimentary Basin. Prior to his current position Mr. Watt worked for other major oil & gas companies as a completions superintendent. He has additional field experience working on drilling rigs in Alberta and British Columbia.

Mr. Watt has an honours diploma in Petroleum Engineering Technology from the Northern Alberta Institute of Technology and a Bachelor of Applied Petroleum Engineering Technology Degree from the Southern Alberta Institute of Technology.

Peter A Schriber – Director

Mr. Schriber graduated with a commerce degree in Switzerland, and entered a banking career in Switzerland. In 1967, Mr. Schriber entered a Canadian Bank in Vancouver BC and held various Management positions. He graduated as a Fellow of the Institute of Canadian Bankers and is a fellow in good standing with the Canadian Bankers association

He retired as Vice president and Manager of Corporate Lending at a Swiss Bank in Canada, to become Director and Partner of a large Vancouver Stock brokerage Securities firm.

Mr. Schriber has extensive experience in merchant and commercial banking, specializing in corporate finance. He has completed numerous financings, and private placements in Europe and North America. Mr. Schriber has established a large financial and institutional clientele in Switzerland

Since 1999, Mr. Schriber has worked as an independent financial consultant, managing private investors portfolios and has been active as a consultant for institutional and private investors, is active in acquisitions and mergers including in raising equity and debt funds for private and public companies.

Marvin J Jones - Director

Marvin Jones has over 45 years of domestic and International Oil/gas experience, of which the last 30 years was at the management level with the drilling/work over contracting industry. Past President of Trinidad Drilling, past VP of Challenger International Services, past VP of Thomson Industries.

Received the CAODC Honorary Life Membership Award. Past president of CAODC, and many other charitable and sports public organizations

Advisory Board Members

Cyrus Spaulding P Eng – Advisory Board

Cyrus Spaulding is a professional engineer with over 17 years experience in the oil and gas industry. Mr. Spaulding has worked on projects in Canada as well as overseas. His experience includes gas plants, hydrocarbon liquids fractionation plants, heavy oil pilot plants and heavy oil commercial plants.

Mr. Spaulding has also worked with a major oil and gas company in Alberta providing forecasting and analysis on heavy oil projects. Mr. Spaulding is a graduate of Lakehead University and a registered Professional Engineer.

Peter D Boyd BA – Advisory Board

President and CEO of Arcis Corporation. Past roles - SVP of Yorkton Securitas, SVP of Marleau, Lemire Securities, SVP of Capital group Securities Walyn Inc analyst

IPOdesktop (ID) SAFE HARBOR STATEMENT: Statements contained in this document, including those pertaining to estimates and related plans, potential mergers and acquisitions, estimates, growth, establishing new markets, expansion into new markets and related plans other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. ID provides no assurance as to the subject company's plans or ability to effect any planned and/or proposed actions. ID has no first-hand knowledge of management and therefore cannot comment on its capabilities, intent, resources, nor experience and makes no attempt to do so. Statistical information, dollar amounts, and market size data was provided by the subject company or its agent and related sources believed by ID to be reliable, but ID provides no assurance, and none is given, as to the accuracy and completeness of this information.

DISCLAIMER: The information, opinions and analysis contained herein are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. Past performance is no guarantee of future results. This report is a paid advertisement and is for information purposes only and should not be used as the basis for any investment decision. ID has been compensated up to eighty five hundred dollars from Novak Capital for preparation and posting of this report, radio interview, virtual road show and other advertising services. This constitutes a conflict of interest as to ID’s ability to remain objective in its communication regarding the subject company. Analysts, principals, associates and employees of ID do not own or trade equities under coverage. For detailed disclosure as required by Rule 17b of the Securities Act of 1933/1934 contact IPOdesktop, 11693 San Vicente Blvd., #350, Los Angeles, CA 90049. ID is not an investment advisor and this report is not investment advice. This information is neither a solicitation to buy nor an offer to sell securities but is a paid advertisement. Information contained herein contains forward-looking statements and is subject to significant risks and uncertainties, which will affect the results. The opinions contained herein reflect our current judgment and are subject to change without notice. We encourage our readers to invest carefully and read the investor information available at the web sites of the U.S. Securities and Exchange Commission (SEC) at http://www.sec.gov and the National Association of Securities Dealers (NASD) at http://www.nasd.com. The NASD has published information on how to invest carefully at its web site. Readers can review all public filings by companies at the SEC's EDGAR page.