Painted Pony Petroleum Ltd. announced that the board of directors of the company have approved the adoption of an advance notice by-law. Among other things, the By-law fixes a deadline by which shareholders must submit a notice of director nominations to the company in order for such nominations to be proposed at annual or special meetings of shareholders where directors are to be elected. Further, the By-law sets forth the information that a shareholder must include in the notice for it to be valid. In the case of an annual meeting of shareholders, notice to the company must be made not less than 30 nor more than 65 days prior to the date set for the annual meeting. The By-law is effective immediately and shareholders of the company will be asked to confirm the By-law at the upcoming annual and special meeting of shareholders to be held on June 5, 2013.

Painted Pony Petroleum Ltd. Presents at CIBC 2013 Energy Conference, Apr-16-2013 02:45 PM. Venue: Toronto, Ontario, Canada. Speakers: Patrick R. Ward, Chief Executive Officer, President and Director.

Painted Pony Petroleum Ltd. continues to pursue the development and expansion of its Montney gas assets in northeastern British Columbia. To-date during the first quarter of 2013, the Company has drilled or is currently drilling a total of 5 (2.6 net) Montney horizontal wells. Eight (6.4 net) Montney wells have been or are in the process of being completed and placed on production test. Painted Pony has recently commenced production testing on 2 (2.0 net) horizontal wells (one Upper and one Lower Montney) on the A-11-J/94-B-09 pad, in-line to a third party gas processing facility. These wells were recently drilled on the Company's new Townsend acreage, which was acquired in December 2012. The Upper Montney well represents the Company's first horizontal well into the Upper Montney at Townsend; the Lower Montney well is the third horizontal well into this horizon at Townsend. In addition, both wells have been completed using a ball-drop packer-style system, rather than perf-and-plug technology. Operating advantages of the ball-drop system include increased completion stages per well (typically 17 - 19 stages, as opposed to 8 - 10 stages in the perf-and-plug style), plus a potential cost reduction of up to $400,000 per well. During a five day test, the Lower Montney well at Townsend 11-J flowed at a peak and final 24-hour rate of 8.3 MMcf/d at an average flowing casing pressure of 1,915 psi., and at an average wellhead rate of 7.2 MMcf/d at a flowing casing pressure of 2,116 psi. Gas analysis indicates a total liquid content (condensate plus natural gas liquids) from this zone of 109 bbl/MMcf. The C3-plus content is 50 bbl/MMcf. On a total boe combined basis, this well tested at a peak rate of 2,071 boe/d. Actual future production from the well may vary from this total boe volume, depending on facility restrictions, if any, and actual processing plant liquids yield. The company also announced that field-estimated sales volumes during the first two months of 2013 averaged approximately 8,200 boe/d (78% weighted to gas).