3P International Energy Major Shareholder Exercises Warrants Early

TORONTO, ONTARIO--(Marketwire - Jan. 12, 2011) - 3P International Energy Corp. (the "Corporation" or "3P") (TSX VENTURE:DOH) is pleased to announce that BTR Accelerator Fund Limited, has entered into agreements for the private sale of a portion (3.6 million) of its 3P shares to incentivize four long-term strategic investors whom the Corporation believes will contribute meaningful relationships and expertise to 3P as it grows its business. 

Concurrently, BTR Accelerator Fund Limited, which is advised by Salida Capital LP, has executed the relevant paperwork for the early exercise of the $0.70 warrants attached to the units it acquired through 3P`s $0.25 private placement which closed in September, 2010.

Dr. David Kahn, President and CEO of 3P, stated "The early stakeholders of the corporation chose 3P as their dedicated vehicle to pursue the major unexploited and compelling opportunities present in the Ukrainian energy space, and to actively participate with 3P in the rapid building of an E & P company focused in this region.

"BTR`s early exercise of its $0.70 3P warrants represents a further demonstration of their commitment to the Corporation and its team, as 3P continues to work towards accretive transactions to augment its asset base in the Ukraine."

About 3P International Energy Corp.

3P International Energy is a Canadian-based emerging oil and gas company focused on developing significant proven oil and gas reserves in Eastern Europe. In the Ukraine, 3P is a joint venture partner on a significant CBM property (512 km2). The Company's strategy is to use proven technology, capital and expertise to significantly increase production and reserves via the drill bit and consolidation. 3P shares are traded on the TSX Venture Exchange under the stock symbol DOH.

On behalf of the Board of Directors

David Kahn, President and CEO

Forward-Looking Information

This press release may contain forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. All statements that address future activities, events or developments that the Corporation believes, expects or anticipates will or may occur are forward-looking information. Forward-looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Corporation's control. There can be no assurance that outcomes anticipated in the forward-looking information will occur and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Corporation undertakes no obligations to update publicly or otherwise revise any forward-looking information, except as may be required by law. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Corporation's filings with the Canadian securities regulators available on www.sedar.com.