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PetroBakken Confirms January Dividend

CALGARY, ALBERTA -- (Marketwire) -- 01/16/13 -- 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, 2013 to all PetroBakken shareholders of record on January 31, 2013. The January dividend will be $0.08 per PetroBakken share. The ex-dividend date is January 29, 2013.

PetroBakken is pleased to provide two convenient cost-effective methods for shareholders to increase their investment in PetroBakken. The Share Dividend Plan ("SDP") is now available to most shareholders, enabling shareholders to receive dividends in the form of common shares at a 5% discount to the average market price. While similar to our Dividend Reinvestment Plan ("DRIP"), the SDP has certain tax attributes which may be more attractive to some shareholders. The DRIP remains available to Canadian shareholders, enabling such shareholders to reinvest their monthly cash dividend to acquire additional common shares at a 5% discount to the average market price. For further information regarding our SDP and 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. Our strategy is to deliver accretive production and reserves growth, along with an attractive dividend yield.

Contacts:
PetroBakken Energy Ltd.
John D. Wright
President and Chief Executive Officer
(403) 268.7800

PetroBakken Energy Ltd.
Peter D. Scott
Senior Vice President and Chief Financial Officer
(403) 268.7800

PetroBakken Energy Ltd.
Bill A. Kanters
Vice President, Capital Markets
(403) 268.7800
ir@petrobakken.com
www.petrobakken.com

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