DeeThree Exploration provides the following information on its reserves effective as at December 31, 2012, as evaluated by the Company's independent reserve engineering firm, Sproule Associates Limited (Sproule). The evaluation of DeeThree's petroleum and natural gas reserves was conducted pursuant to National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGEH") reserves definitions. Additional reserve information as required under NI 51-101 will be included in the Company's Annual Information Form which will be filed on SEDAR by March 28, 2013.

HIGHLIGHTS OF 2012 RESERVE REPORT •Total proved reserves have increased from 7.4 million boe at December 31, 2011 to 14.4 million boe (78% oil and NGLs) as at December 31, 2012 representing a 95% increase; total proved plus probable reserves have increased from 9.7 million boe at December 31, 2011 to 20.2 million boe (78% oil and NGLs) as at December 31, 2012 representing an 108% increase. •Increased proved plus probable crude oil reserves significantly to 14.8 million boe from 4.6 million boe at year end 2011. •On a fully diluted per share basis, increased proved plus probable reserves by 83% and increased proved reserves by 71%.

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