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Press release from Marketwire

Painted Pony Adopts Advance Notice By-Law

Thursday, May 02, 2013

Painted Pony Adopts Advance Notice By-Law

15:05 EDT Thursday, May 02, 2013

CALGARY, ALBERTA--(Marketwired - May 2, 2013) - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX VENTURE:PPY) is pleased to announce that the board of directors of the Company have approved the adoption of an advance notice by-law (the "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. A copy of the By-law will be included in the proxy materials to be mailed to shareholders in connection with the June 5, 2013 meeting and filed under the Company's profile at www.sedar.com.

Advisory

This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "potential", "intend", "objective", "continuous", "ongoing", "encouraging", "estimate", "expect", "may", "will", "project", "should", or similar words suggesting future outcomes. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect.

Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in some cases, information supplied by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from third parties is reliable, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements.

FOR FURTHER INFORMATION PLEASE CONTACT:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:
Painted Pony Petroleum Ltd.
Patrick R. Ward
President & CEO
(403) 475-0440
(403) 238-1487 (FAX)


Painted Pony Petroleum Ltd.
Joan E. Dunne
Vice President, Finance & CFO
(403) 475-0440
(403) 238-1487 (FAX)


Painted Pony Petroleum Ltd.
300, 602 - 12 Ave SW
Calgary, AB T2R 1J3
www.paintedpony.ca

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