PPY.A Painted Pony Petroleum Ltd., Class A

Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX
VENTURE:PPY.A) is pleased to announce details regarding the re-designation of
its Class A Shares into common shares ("Common Shares") (the "Re-designation")
and the change of its stock symbol on the TSX Venture Exchange (the "TSXV") from
"PPY.A" to "PPY". The Re-designation was approved by the shareholders at Painted
Pony's annual and special meeting of shareholders held on June 6, 2012. The
Re-designation will not result in any substantive change to the existing rights,
privileges, restrictions or conditions attached to the Class A Shares.


Painted Pony filed articles of amendment effecting the Re-designation as of June
7, 2012. Accordingly, share certificates representing Class A Shares will be
deemed for all purposes to represent Common Shares instead, and registered
holders of Class A Shares will automatically become registered holders of an
equivalent number of Common Shares. Accordingly, no new share certificates will
be issued in respect of the Common Shares. However, if so desired, each
registered shareholder holding Class A Shares shall be entitled to exchange such
holder's certificates formerly representing Class A Shares for new certificates
representing Common Shares upon delivering such holder's existing share
certificates to the Company's transfer agent, Olympia Trust Company ("Olympia"),
at its principal office in Calgary, Alberta, along with such other documents as
Olympia may require.


The Common Shares are expected to commence trading on the TSXV under the new
symbol "PPY" at the opening of markets on Monday, June 11, 2012.


Painted Pony would like to welcome Kelly Drader, B. Comm., C.A., to its Board of
Directors. Mr. Drader was elected as a director at the Company's annual and
special meeting of shareholders held on June 6, 2012.


Mr. Drader has over 25 years of experience in financial management, oil & gas
acquisitions, investment analysis, and income tax in the oil and gas industry.
Mr. Drader has been the Chief Executive Officer of Longview Oil Corp. and the
Chief Financial Officer of Advantage Oil & Gas Ltd. ("Advantage") since April
14, 2011. Mr. Drader joined Advantage in May 2001 as Chief Executive Officer.
Mr. Drader joined The Enerplus Group of Companies in November 1987, which
specialize in the management of oil and gas income funds and royalty trusts,
serving as Vice President, Finance and CFO for 10 years before being promoted to
Senior Vice President in 1997. Mr. Drader was in public practice with Touche
Ross & Co., in Calgary prior to 1985, specializing in oil and gas auditing for
four years and oil and gas taxation for two years.


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.


Advisory

Special Note Regarding Forward-Looking Information

Certain information regarding Painted Pony set forth in this document, including
the anticipated date upon which the Common Shares will commence trading on the
TSXV under the new stock symbol "PPY" constitute forward-looking statements
under applicable securities laws and necessarily involve substantial known and
unknown risks and uncertainties These statements are based on numerous
assumptions including assumptions regarding the date upon which Painted Pony
receives final approval from the TSXV for the Re-designation and the change of
stock symbol. The reader is cautioned that certain or all of the forgoing
assumptions may prove to be incorrect.  


These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond Painted Pony's control. Painted
Pony's actual results, performance or achievement could differ materially from
those expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits, including the amount of proceeds, that the Company will derive
therefrom. All subsequent forward-looking statements, whether written or oral,
attributable to the Company or persons acting on its behalf are expressly
qualified in their entirety by these cautionary statements.

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