Peyto Exploration & Development Corp. Confirms Dividends for

Peyto Exploration & Development Corp. Confirms Dividends for First
Quarter 2013 
CALGARY, ALBERTA -- (Marketwire) -- 01/15/13 -- Peyto Exploration &
Development Corp. (TSX:PEY) ("Peyto") declares the following
dividends, payable to shareholders of its common shares at the close
of business on the record dates indicated.  

Dividend Amount per                                                         
    Common Share       Record Date      Ex-Dividend Date     Payment Date   
       $0.06         January 31, 2013   January 29, 2013  February 15, 2013 
       $0.06        February 28, 2013  February 26, 2013  March 15, 2013 (i)
       $0.06          March 31, 2013     March 26, 2013   April 15, 2013 (i)

(i) Dividends are at the discretion of the Board of Directors and
subject to change. 
Dividends paid by Peyto to Canadian residents are eligible dividends
for Canadian income tax purposes. 
Shareholders and interested investors are encouraged to visit the
Peyto website at to learn more about what makes Peyto
one of North America's most exciting energy companies.  
Certain information set forth in this document, including
management's assessment of Peyto's future plans and operations,
contains forward-looking statements. By their nature, forward-looking
statements are subject to numerous risks and uncertainties, some of
which are beyond these parties' control, including the impact of
general economic conditions, industry conditions, volatility of
commodity prices, currency fluctuations, imprecision of reserve
estimates, environmental risks, competition from other industry
participants, the lack of availability of qualified personnel or
management, stock market volatility and ability to access sufficient
capital from internal and external sources. Readers are cautioned
that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove
to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements. Peyto's actual results, performance or
achievement could differ materially from those expressed
 in, or
implied by, these forward-looking statements and, accordingly, no
assurance can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them
do so, what benefits that Peyto will derive therefrom.  
The Toronto Stock Exchange has neither approved nor disapproved the
information contained herein. 
Peyto Exploration & Development Corp.
Darren Gee
President and Chief Executive Officer
(403) 237-8911
(403) 451-4100 (FAX)
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