CALGARY, ALBERTA--(Marketwire - Jan. 17, 2011) - PetroBakken Energy Ltd. ("PetroBakken" or the "Company") (TSX:PBN) is pleased to announce that our cash dividend for the month of January will be paid on February 15, 2011 to all PetroBakken shareholders of record on January 31, 2011. The January dividend will be $0.08 per PetroBakken share. The ex-dividend date is January 27, 2011.

PetroBakken Energy Ltd. is a premier light oil production company combining, high growth, long-life Bakken reserves and production with legacy 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.

Contact Information: PetroBakken Energy Ltd.
John D. Wright
Chairman of the Board and Chief Executive Officer
403.750.4400
or
PetroBakken Energy Ltd.
R. Gregg Smith
President and Chief Operating Officer
403.750.4400
or
PetroBakken Energy Ltd.
Peter D. Scott
Senior Vice President and Chief Financial Officer
403.750.4400
or
PetroBakken Energy Ltd.
William A. Kanters
Vice President Business Development and Corporate Planning
403.750.4400
ir@petrobakken.com
www.petrobakken.com