DeeThree Exploration Ltd. provided earnings guidance for the fiscal year 2014. For the year, the company will undertake a $230 million capital expenditure program. The company is forecasting its production to be within the range of 11,500 to 11,700 boe/d (81% crude oil and NGLs) with a targeted 2014 exit production rate of 13,000 - 13,500 boe/d (82% crude oil and NGLs). Funds from operations anticipated to be $170 million or $2.06 per basic share. Year end net debt to annualized fourth quarter funds from operations is expected to be less than one times, thereby maintaining a strong Balance Sheet. Capital expenditures are budgeted at $230 million including the drilling of 46 gross wells on the Lethbridge and Brazeau properties.

The company also announced the results of a four day production test of its most recent 100% working interest horizontal Belly River oil well drilled in the Brazeau area. After fracture stimulation, this well continued to flow for 4.5 days up the 4 1/2" frac string at an average rate of 940 bbls /d of 44deg API reservoir oil and 3.3 mmscf/d of natural gas with a final rate of approximately 850 bbls/d of oil and 3.7 mmscf/d of natural gas (on a 1 (1/16) " choke at a wellhead pressure of 350 psi). With expected conservation of produced natural gas for sale, this final test rate equates to approximately 1,525 boe/d (70% oil and liquids). This well is an offset to an earlier Upper D discovery that tested at similar rates and helps support the company's initial interpretation of a much larger pool with several more potential high impact locations.