Painted Pony Petroleum Ltd. Announces Increase in Credit Facility to $100.0 Million

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX
VENTURE:PPY.A) announces that its demand revolving credit facility which is
provided by a Canadian chartered bank (the "Lender") has been increased from $80
million to $100.0 million (the "Facility"). The Facility is subject to a review
by the Lender to be conducted on or before February 1, 2013. Security for the
Facility is provided by a first fixed and floating charge demand debenture for
$150 million on all of the Company's assets, which will replace the previous
fixed and floating charge demand debenture for $100 million. Completion of the
increased Facility is subject to standard conditions. At present, Painted Pony
has no funds drawn under the Facility and has an estimated positive working
capital position as at March 31, 2012 of $43 million.


The Company will also be undertaking a series of presentations to interested
parties over the next two weeks in various cities across Canada and the United
States. Interested parties are invited to visit the Company's website to view an
updated corporate presentation. 


Painted Pony Petroleum Ltd. was recognized as a TSX Venture 50(R) Company in
2012. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.