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Press release from Marketwire

Peyto Exploration & Development Corp. Confirms Dividends for Third Quarter 2012

Monday, July 16, 2012

Peyto Exploration & Development Corp. Confirms Dividends for Third Quarter 201216:30 EDT Monday, July 16, 2012CALGARY, ALBERTA--(Marketwire - July 16, 2012) - Peyto Exploration & Development Corp. ("Peyto") (TSX:PEY) 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 ShareRecord DateEx-Dividend DatePayment Date$0.06July 31, 2012July 27, 2012August 15, 2012$0.06August 31, 2012August 29, 2012September 14, 2012*$0.06September 30, 2012September 26, 2012October 15, 2012** 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 www.peyto.com 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. FOR FURTHER INFORMATION PLEASE CONTACT: Darren GeePeyto Exploration & Development Corp.President and Chief Executive Officer(403) 237-8911(403) 261-8976 (FAX)The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.