TORONTO, ONTARIO--(Marketwire - Oct. 14, 2011) - 3P International Energy Corp. (TSX VENTURE:DOH) announced that, pursuant to a settlement agreement entered into today, it has agreed to dismiss the action it commenced on September 15, 2011 against certain parties.

About 3P International Energy Corp.

3P International Energy is a Canadian-based company focused on the exploration and development of oil and gas reserves in Eastern Europe. In the Transcarpathian basin of Ukraine, 3P is the 100% owner and operator of a 20 year production licence with a gas producing asset, as well as three exploration licences with exploration targets and a further development opportunity on a total of 300 sq.km. The Company's strategy is to use proven technology, capital, and expertise to grow the reserves base and build a portfolio of low cost gas production assets in Eastern Europe to capitalize on high regional gas prices. 3P shares are traded on the TSX Venture Exchange under the stock symbol DOH.

On behalf of the board of Directors

Gregory M. Cameron, Chairman

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