CALGARY, ALBERTA--(Marketwire - July 15, 2011) - PetroBakken Energy Ltd. ("PetroBakken") (TSX:PBN) is pleased to announce that our cash dividend for the month of July will be paid on August 15, 2011 to all PetroBakken shareholders of record on July 31, 2011. The July dividend will be $0.08 per PetroBakken share. The ex-dividend date is July 27, 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
President and Chief Executive Officer
403.268.7800

PetroBakken Energy Ltd.
R. Gregg Smith
Chief Operating 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