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

Painted Pony Petroleum Ltd.

December 06, 2007 12:57 ET

Painted Pony Petroleum Ltd. Announces the Closing of a $10,000,080 Bought Deal Private Placement of Class A Shares

CALGARY, ALBERTA--(Marketwire - Dec. 6, 2007) -

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) is please to announce the closing of an equity financing arrangement entered into with a syndicate of underwriters led by Blackmont Capital Inc. and including FirstEnergy Capital Corp., Westwind Partners Inc. and Cormark Securities Inc. on a bought deal basis (the "Offering").

A total of 4,166,700 class A common shares (the "Class A Shares") were sold through the Offering at a price of $2.40 per Class A Share raising gross proceeds of $10,000,080.

Proceeds of the Offering will be used to further the capital program or for general corporate purposes.

The securities issued pursuant to the Offering are subject to a four-month hold period expiring April 7, 2008 in accordance with applicable securities laws.

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