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DeeThree Exploration Scratching Back Following 8% Decline Yesterday

DeeThree Exploration Ltd. (DTX.TO) is bouncing back from its 8% drubbing yesterday with shares climbing at least 11 cents today, or slightly more than 4%, to $2.65 each. The stock earlier touched $2.70 a share before easing in steady Thursday trade.

DeeThree was pounded on Wednesday, falling 22 cents a share to establish a new 52-week low at $2.42 after saying it was abandoning one shallow gas well recently drilled near Lethbridge, Alberta, due to excess water. The news overshadowed the company reporting increased production levels from five of the 11 wells it drilled so far this year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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