Kodiak Oil & Gas Corp. Announces Public Offering of Common Stock

Kodiak Oil & Gas Corp. announced that it is commencing an offering of up to 10,000,000 shares of its common stock in a public offering. KeyBanc Capital Markets Inc. is acting as the sole book runner for the offering and as the co-manager with Thomas Weisel Partners LLC. Proceeds of the offering will be used primarily for drilling and completion activities on Kodiak’s Williston Basin leases in the Bakken and Three Forks reservoirs, and for other general corporate activities. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 common shares to cover over-allotments, if any.

The offering is being made pursuant to an effective shelf registration statement that Kodiak filed with the Securities and Exchange Commission on July 14, 2008. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.

This press release does not constitute an offer to sell or the solicitation of an offer to buy common stock of Kodiak Oil & Gas Corp., nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

When available, copies of the preliminary prospectus supplement and accompanying prospectus relating to these securities may be obtained by contacting KeyBanc Capital Markets, Attn: Prospectus Delivery Department, 800 Superior Avenue, 17th Floor, Cleveland, Ohio 44114, phone: 216.563.2018.