Painted Pony Announces Name Change

05/17/2017

CALGARY, May 17, 2017 /CNW/ - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX:PPY) is pleased to announce that its name has changed from "Painted Pony Petroleum Ltd." to "Painted Pony Energy Ltd.".

Painted Pony Petroleum Ltd. (CNW Group/Painted Pony Petroleum Ltd.)

On May 11, 2017, shareholders authorized an amendment to the Articles of the Corporation to change the name of the Corporation by filing articles of amendment, in the prescribed form, with the Registrar under the Business Corporations Act (Alberta).

The certificate of amendment and registration statement reflecting the legal name change is dated May 17, 2017 and can be found on the Corporation's website at paintedpony.ca/about-us.

Trading Symbol

The Corporation has applied to change the trading symbol for its common shares on the Toronto Stock Exchange (the "TSX") from "PPY" to "PONY" and has reserved the symbol "PONY" with the TSX for this purpose.  This change will be effective as soon as possible.

ABOUT PAINTED PONY

Painted Pony is a publicly-traded natural gas company based in Western Canada.  The Corporation is primarily focused on the development of natural gas and natural gas liquids from the Montney formation in northeast British Columbia.  Painted Pony's common shares trade on the TSX under the symbol "PPY".  The Corporation intends to change its trading symbol on the TSX to "PONY".

SOURCE Painted Pony Petroleum Ltd.

Patrick R. Ward, President and CEO, (403) 475-0440; John H. Van de Pol, Senior Vice President and CFO, (403) 475-0440; Jason Fleury, Director, Investor Relations, (403) 776-3261; info@paintedpony.ca, www.paintedpony.ca

Emergency Phone: 1-888-775-0440

PAINTED PONY ENERGY LTD.

Suite 1800, 736 – 6th Avenue SW Calgary, AB T2P 3T7 P: 403 475-0440 F: 403 238-1487 TF: 1-866-975-0440 E: info@paintedpony.ca

24-HOUR EMERGENCY CONTACT

Call 1-888-775-0440 to report concerns regarding any of Painted Pony’s field operations. This is for EMERGENCIES ONLY and does not connect to Painted Pony’s head office.

PAINTED PONY PETROLEUM LTD.

Suite 1800, 736 – 6th Avenue SW Calgary, AB T2P 3T7 P: 403 475-0440 F: 403 238-1487 TF: 1-866-975-0440 E: info@paintedpony.ca