PPY.B Painted Pony Petroleum Ltd

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR 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, 804,500 incentive stock options
to purchase Class A Shares of Painted Pony (the "Options") to Directors and
Officers. The Options are exercisable over a three year period at $2.85 per
Class A Share, with 33.3% vesting immediately, 33.3% in one year, and the final
33.3% vesting in two years.


Investor Information

Painted Pony is a junior Canadian oil and gas exploration company that trades on
the TSX Venture Exchange under the symbols "PPY.A" and "PPY.B". Painted Pony has
35,222,700 Class A shares, 1,173,600 Class B shares and 3,594,500 options (at an
average price of $4.52 per share) issued and outstanding.

Painted Pony Petroleum Ltd (TSXV:PPY.B)
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Painted Pony Petroleum Ltd (TSXV:PPY.B)
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