DeeThree Exploration Ltd. provided operational update for the year 2012. The company has drilled five Belly River horizontal wells in its Brazeau property year to date and is currently completing drilling operations on two (2.0 net) additional Belly River horizontal wells in its Brazeau property and one Bakken (1.0 net) horizontal well in its Ferguson property. An update regarding these wells and other activities will be provided in the coming weeks.
Two of the Belly River horizontal wells drilled and completed this year tested at significant rates. These wells targeted different intervals within the Belly River formation. Horizontal well 5-27-47-14W5 tested at a final stabilizing rate of approximately 3.5 mmscf/d of sales gas with 215 bbls/d of associated NGLs and 450 bbls/d of light oil at a flowing wellhead pressure of 420 psi after an 8 day test. Initial test results of this well were announced on February 25, 2013. Horizontal well 2-34-47-14W5 tested at a final stabilizing rate of approximately 1.2 mmscf/d of sales gas with 70 bbls/d of associated NGLs and 500 bbls/d of light oil at a flowing wellhead pressure of 30 psi after a 5 day test.

The Company anticipated that its exit production for the first quarter of 2013 will be 6,800 boe per day. Three more wells are expected to be placed onto production by mid-April 2013.