DeeThree Exploration Ltd. announced that based on field estimates it met its targeted 2013 exit production rate of 10,000 boe/d in December 2013 having attained a maximum rate of 10,200 boe/d (81% oil and NGLs and 19% natural gas). DeeThree's current production rate is approximately 9,500 boe/d (76% oil and NGLs and 24% natural gas). The Company currently has three drilling rigs active in the Brazeau area with a fourth rig to commence drilling in the Alberta Bakken in the coming days. Current additional operations include the expansion of the enhanced recovery re-injection scheme in the Alberta Bakken including the addition of a second re-injection well soon to be operational as well as the continuation of the multi-lateral horizontal drilling initiative in Brazeau which is improving cost efficiencies in the area. DeeThree is presently in the later stages of drilling 3 gross (3.0 net) horizontal wells on its Brazeau Belly River property. These wells are expected to be completed and placed onto production prior to the end of January. DeeThree will continue to operate three drilling rigs on its Brazeau Belly River property for the balance of the winter drilling season. As a result of the significantly increased capital efficiency realized through the drilling of multiple horizontal legs from a single well pad, DeeThree's 2014 Brazeau Belly River drilling program will focus on well locations that provide for multiple horizontal legs. Based on the positive results of the pilot gas re-injection enhanced recovery scheme implemented by DeeThree on its Alberta Bakken property, the Company will expand the size of the area under the program in the coming weeks with the addition of a second gas re-injection well which is anticipated to be operating by the end of January. This well was producing approximately 200 bbls/d prior to being converted into a re-injection well in December 2013. A third gas re-injection well is planned in the coming months following which substantially all gas produced by DeeThree from its Alberta Bakken property will be re-injected to enhance oil recoveries. DeeThree will commence its 2014 Alberta Bakken drilling program in the coming days with one drilling rig. DeeThree will operate this rig on its Alberta Bakken property for the
balance of the winter drilling season.