DeeThree Exploration Ltd. provide an operational update on its first quarter Bakken and Brazeau Belly River drilling results. DeeThree also decares an increase in its guidance for the 2012.

As a result of the Company's first quarter 2012 drilling program, current production is approximately 4,000 boe/d (63% crude oil and NGLs). The Company has drilled 9 (8.9 net) wells year to date with three drilling rigs currently operating.

The IP30 rate of the Company's previously announced (February 14, 2012) Bakken discovery well on its Lethbridge property is 415 bbls/d of oil with an average water cut of 3%. The second Bakken well drilled by the Company in 2012 was drilled to a planned total horizontal length of 1,440 meters and was successfully fracture stimulated with 180 tonnes of sand over 18 stages using an energized water based system. After stimulation, this well has been flowing for approximately three days with a current flow rate of approximately 800 bbls/day oil with a water cut of 3%.

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