GRANITE OIL CORP. 
By DEETHREE EXPLORATION LTD.
January 19, 2012
For Immediate Release
Calgary, Alberta
DEETHREE EXPLORATION ACHIEVES RECORD PRODUCTION IN EARLY 2012 AND RELEASES 2012 GUIDANCE
N E W S R E L E A S E
CALGARY, ALBERTA - January 19, 2012 - DeeThree Exploration Ltd. ("DeeThree" or the
Company") (TSX:DTX) (OTCQX:DTHRF)is providing an update on
recent production levels and
2012 guidance.
Based on estimates provided by field reports, DeeThree has
achieved record production of
3,500boe/d including the added production from its fourth
Belly River well previously announced on January
10th, 2012.This represents a 64% increase from
third-quarter 2011 average production volumes of 2,135 boe/d
of which 36% was crude oil and NGLs. Current production
consists of approximately 52% crude oil and liquids, a 135%
volume increase from the third- quarter of 2011.
Operations Update
Brazeau - Belly River
The Company currently has two rigs operating in the area and
expects to drill, complete and have on-stream a minimum of
three gross (2.7 net) additional wells prior to spring break
up. The Company has essentially doubled the production out of
this area since purchasing it in March of
2011.
Lethbridge
The Company is currently drilling the horizontal leg of a
Bakken test well in the area with a second rig to be
operating by month end. Throughout the first quarter of 2012,
the Company plans to drill as many as 6.0 gross (6.0 net)
wells, weather permitting.
2012 Guidance
DeeThree's Board of Directors has approved a 2012 capital
budget of approximately
$57
