Painted Pony Petroleum Ltd.
TSX VENTURE : PPY.A
TSX VENTURE : PPY.B

Painted Pony Petroleum Ltd.

January 22, 2008 16:19 ET

Painted Pony Petroleum Ltd. Announces Grant of Stock Options

CALGARY, ALBERTA--(Marketwire - Jan. 22, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Painted Pony Petroleum Ltd. ("Painted Pony") (TSX VENTURE:PPY.A) (TSX VENTURE:PPY.B) announces that pursuant to the terms and conditions of its Stock Option Plan, it has granted, in the aggregate, 1,347,000 incentive stock options to purchase Class "A" Shares of Painted Pony (the "Options"), to certain of its Directors, Officers, Employees and Consultants. The Options are exercisable over a three year period at $3.97 per share, with 33.3% vesting immediately, 33.3% in one year, and the final 33.3% vesting in two years.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Class A Shares in any jurisdiction. Such securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States, or to a U.S. person, absent registration or an applicable exemption from the registration requirement.

The TSX Venture exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Painted Pony Petroleum Ltd.
    Patrick R. Ward
    President and CEO
    (403) 475-0440
    or
    Painted Pony Petroleum Ltd.
    Joan E. Dunne
    Vice President, Finance and CFO
    (403) 475-0440