CALGARY, ALBERTA--(Marketwire - Feb. 15, 2011) - PetroBakken Energy Ltd. ("PetroBakken" or the "Company") (TSX:PBN) is pleased to announce that our cash dividend for the month of February will be paid on March 15, 2011 to all PetroBakken shareholders of record on February 28, 2011. The February dividend will be $0.08 per PetroBakken share. The ex-dividend date is February 24, 2011. 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.

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