DEETHREE EXPLORATION LTD.
January 10, 2012
For Immediate Release
Calgary, Alberta
DEETHREE EXPLORATION ANNOUNCES SIGNIFICANT BRAZEAU WELL N E W S R E L E A S E
CALGARY, ALBERTA - January 10, 2012 - DeeThree Exploration Ltd. ("DeeThree" or the "Company") (TSX:DTX) announces the results of its fourth horizontal Belly River well in its Brazeau property.
The DeeThree operated (89% working interest) well was drilled
to a planned total depth with a horizontal lateral in the
target zone of approximately 1100 m. The horizontal lateral
was successfully fracture stimulated, placing 320 tonnes of
sand over 16 stages using energized water based system. After
stimulation the well continued to flow for approximately 5
days up the
4 ½" frac string with final stabilizing rates of
approximately 600 bbls/d of 44° API reservoir oil and
250 mscf/d of natural gas. Final water cuts during the test
were approximately 20% and decreasing as load water from the
fracture stimulation was recovered. A production string has
been installed and the well is currently shut-in to conduct
pressure work. The well is expected to be returned to
permanent production shortly at rates similar to the test
rates, with oil being processed and natural gas conserved at
DeeThree's nearby pipeline connected central battery.
DeeThree is very pleased with the results from its Brazeau
Belly River development program, more than doubling the
production potential from the field with the four wells it
has drilled to date. DeeThree has continued to improve its
drilling results through increased geotechnical knowledge and
operational efficiencies. As a result of its success in the
area DeeThree will increase the pace of the development of
the property by bringing in a second rig by the end of
January 2012.
The Company anticipates that it will release its 2012 capital
expenditure and production guidance in the next few weeks.
Reader Advisory
Forward-Looking Statements. Certain statements contained in this press release may constitute forward-looking statements. These statements relate to future events or the DeeThree's future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward- looking statements. DeeThree believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be
unduly relied upon by investors. These statements speak only
as of the date of this press release and are expressly
qualified, in their entirety, by this cautionary
statement.
In particular, this press release contains forward-looking
statements, pertaining to the following: DeeThree's future
projects, oil and natural gas production levels, and capital
expenditure programs.
With respect to forward-looking statements contained in this
press release, DeeThree has made assumptions regarding, among
other things: the legislative and regulatory environments of
the jurisdictions where DeeThree carries on business or has
operations, the impact of increasing competition, and
DeeThree's ability to obtain additional financing on
satisfactory terms.
DeeThree's actual results could differ materially from those
anticipated in these forward-looking statements as a result
of risk factors that may include, but are not limited to:
volatility in the market prices for oil and natural gas;
uncertainties associated with estimating reserves;
uncertainties associated with DeeThree's ability to obtain
additional financing on satisfactory terms; geological,
technical, drilling and processing problems; liabilities and
risks, including environmental liabilities and risks,
inherent in oil and natural gas operations; incorrect
assessments of the value of acquisitions; competition for,
among other things, capital, acquisitions of reserves,
undeveloped lands and skilled personnel.
This forward-looking information represents DeeThree's views
as of the date of this document and such information should
not be relied upon as representing its views as of any date
subsequent to the date of this document. DeeThree has
attempted to identify important factors that could cause
actual results, performance or achievements to vary from
those current expectations or estimates expressed or implied
by the forward-looking information. However, there may be
other factors that cause results, performance or achievements
not to be as expected or estimated and that could cause
actual results, performance or achievements to differ
materially from current expectations. There can be no
assurance that forward-looking information will prove to be
accurate, as results and future events could differ
materially from those expected or estimated in such
statements. Accordingly, readers should not place undue
reliance on forward-looking information. . Except as required
by law, the Company undertakes no obligation to publicly
update or revise any forward-looking statements.
We seek Safe Harbor.
Davis:10344711.4
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