Share Name Share Symbol Market Type
Painted Pony Petroleum Ltd., Class A TSXV:PPY.A TSX Venture Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.00 -

Painted Pony Petroleum Ltd. Announces $94.4 Million Bought Deal Equity Financing

18/10/2011 1:06pm

Marketwired Canada


Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX
VENTURE:PPY.A)(TSX VENTURE:PPY.B)  is pleased to announce that it has entered
into an agreement with a syndicate of underwriters led by Cormark Securities
Inc. and including FirstEnergy Capital Corp., CIBC World Markets Inc., RBC
Capital Markets Inc. and Scotia Capital Inc. (collectively the "Underwriters")
under which they have agreed to purchase for resale to the public, on a bought
deal basis, 8,000,000 Class A Shares ("Class A Shares") at $11.80 per Class A
Share (the "Offering Price") for aggregate gross proceeds of $94,400,000 (the

Painted Pony has granted the Underwriters an option (the "Over-Allotment
Option") to purchase an additional 800,000 Class A Shares exercisable at the
Offering Price on the date of closing of the Offering and for a period of 30
days following the date of closing of the Offering for additional gross proceeds
of up to $9,440,000 which would increase the Offering to aggregate gross
proceeds of $103,840,000 if fully exercised.

The net proceeds of the Offering will be used to partially fund the
Corporation's capital program and for other general corporate purposes.

The Class A Shares shall be offered in all provinces of Canada (other than
Quebec) by way of short form prospectus The securities offered have not been
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable
exemption from registration requirements.

The closing of the Offering is expected to occur on November 8, 2011, and is
subject to certain conditions, including, but not limited to, the receipt of all
necessary regulatory approvals, including the approval of the TSX Venture

Painted Pony is a junior Canadian oil and gas exploration company that trades on
the TSX Venture Exchange under the symbols "PPY.A" and "PPY.B" respectively.


Certain information regarding Painted Pony set forth in this news release,
including the closing of the Offering, the use of proceeds of the Offering and
management's assessment of Painted Pony's future plans and operations may
constitute forward-looking statements under applicable securities laws and
necessarily involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
certain of which are beyond Painted Pony's control, including without
limitation, risks associated with oil and gas exploration, development,
exploitation, production, marketing and transportation, loss of markets,
industry conditions, volatility of commodity prices, environmental risks, the
lack of availability of qualified personnel or management, inability to obtain
drilling rigs or other services, capital expenditure costs, including drilling,
completion and facility costs, unexpected decline rates in wells, wells not
performing as expected, stock market volatility, delays resulting from our
inability to obtain required regulatory approvals and ability to access
sufficient capital from internal and external sources, the impact of general
economic conditions in Canada, the United States and overseas, changes in laws
and regulations (including the adoption of new environmental laws and
regulations) and changes in how they are interpreted and enforced, increased
competition, fluctuations in foreign exchange or interest rates, stock market
volatility and market valuations of companies with respect to announced
transactions and the final valuations thereof. Readers are cautioned that the
foregoing list of factors is not exhaustive. Painted Pony'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, including the
amount of proceeds, that the Corporation will derive therefrom. Readers are
cautioned that the foregoing list of factors is not exhaustive. All subsequent
forward-looking statements, whether written or oral, attributable to the
Corporation or persons acting on its behalf are expressly qualified in their
entirety by these cautionary statements.

Additional information on these and other factors that could affect Painted
Pony's operations and financial results are included in reports on file with
Canadian securities regulatory authorities and may be accessed through the SEDAR
website ( or Painted Pony's website (

The forward-looking statements contained in this document are made as at the
date of this news release and Painted Pony does not undertake any obligation to
update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as
may be required by applicable securities laws.

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