Petrobakken Announces Q1 2013 Operations Update With Average Production of 49,100 Boepd

PetroBakken Energy Ltd. ("PetroBakken" or the "Company") (TSX:PBN) is pleased to provide an update on our first quarter operations. Note that all well counts contained in this press release are net numbers.

Consistent with our capital plan, the first quarter of 2013 was very active as we drilled 53 wells, placed 40 wells on production and exited the quarter with an inventory of 30 wells waiting to be brought on-stream. Although well activity decreased from the fourth quarter of 2012, production continued to grow and averaged 49,079 barrels of oil equivalent per day ("boepd") (82% light oil and liquids weighted) during the first quarter.

DeeThree Exploration Ltd. Announces a 1580 bbl/d Brazeau Belly River Oil Test

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

DEETHREE EXPLORATION LTD. ("DeeThree" or the "Company") (TSX:DTX)(OTCQX:DTHRF) is pleased to announce the results of a four day production test of its most recent horizontal Belly River oil well in its Brazeau property. The Company has a 100% working interest in the well.

After fracture stimulation, the well continued to flow for four days up the 4 1/2" frac string at an average rate of 1770 bbls/d of 44° API reservoir oil and 1.6 mmscf/d of natural gas with a final rate of approximately 1,580 bbls/d of oil and 1.8 mmscf/d of natural gas (on a 1.5" choke at a wellhead pressure of 40 psi).

GE to Acquire Lufkin Industries

Artificial lift, used in 94 percent of the roughly 1 million oil-producing wells around the world, helps lift hydrocarbons to the surface in reservoirs with low pressure and improves the efficiency of naturally flowing wells. Upon close, Lufkin will broaden GE Oil & Gas’ artificial lift capabilities beyond electric submersible pumps (ESPs) to include rod lift, gas lift, plunger lift, hydraulic lift, progressive cavity pumps and a sophisticated array of well automation and production optimization controls and software. The ESP category of artificial lift is the only lift segment in which Lufkin does not currently compete.

Lundin Petroleum Spuds Exploration Well on the Carlsberg Prospect in the Southern North Sea

Lundin Petroleum AB (TSX:LUP)(OMX:LUPE) (Lundin Petroleum) is pleased to announce that drilling of exploration well 7/4-3 in PL495 has commenced. The well will target the Carlsberg prospect, which is located some 24 km north of the Lundin Petroleum operated Brynhild field in the North Sea, offshore Norway, and approximately 22 km east of the UK Everest field.

The main objective of well 7/4-3 is to prove the presence of hydrocarbons in Upper Triassic and Upper Cretaceous reservoirs. Lundin Petroleum estimates the Carlsberg prospect to contain unrisked, gross, prospective resources of 67 million barrels of oil equivalent (MMboe).