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November 8, 2019 Painted Pony Announces Closing of Asset Sale
CALGARY, Alberta, Nov. 08, 2019 (GLOBE NEWSWIRE) - Painted Pony Energy Ltd. (" Painted Pony " or the " Corporation ") ( TSX: PONY ) is pleased to announce the closing of the previously announced asset sale (the “ Asset Sale ”) of a 75% working interest in 11,280 gross acres (8,460 net acres) in the northeast British Columbia Montney for cash consideration of $45 million.
The Asset Sale acreage totals approximately 4% of Painted Pony’s total Montney acreage prior to closing.  As at closing and net of the cash proceeds from the Asset Sale, Painted Pony’s bank debt is estimated to be $120 million on a $375 million syndicated credit facility. DEFINITIONS AND ADVISORIES Currency: All amounts referred to in this press release are stated in Canadian dollars unless otherwise specified. ABOUT PAINTED PONY
Painted Pony is a publicly-traded natural gas company based in Western Canada. The Corporation is focused on the development of natural gas and natural gas liquids from the...
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November 6, 2019 Painted Pony Announces Bank Line Reaffirmed at $375 Million, and Third Quarter Financial and Operating Results
CALGARY, Alberta, Nov. 06, 2019 (GLOBE NEWSWIRE) - Painted Pony Energy Ltd. (“ Painted Pony ” or the “ Corporation ”) ( TSX: PONY ) is pleased to announce the Corporation's total credit capacity remains at $397 million, positive longer lateral well tests, and third quarter 2019 financial and operating results.
RECENT HIGHLIGHTS: Announced the sale of a 75% working interest in a block of 100% Painted Pony-owned 11,280 gross acres (8,460 net acres) (the " Asset Sale ") for cash consideration of $45 million and which is expected to close on November 8, 2019;
Maintained $397 million of credit capacity composed of a reaffirmed $375 million syndicated  facility with no financial covenants and a $22 million unsecured letter of credit facility backstopped by Export Development Canada, and;
Initiated flow back of three wells on the 74-F pad at Blair with lateral sections averaging greater than 3,000 meters which produced a combined flow rate of approximately 35 MMcf/d in...
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October 18, 2019 Painted Pony Announces Asset Sale
CALGARY, Alberta , Oct. 17, 2019 (GLOBE NEWSWIRE) - Painted Pony Energy Ltd. (" Painted Pony " or the " Corporation ") ( TSX: PONY ) is pleased to announce that it has entered into a definitive agreement to sell a 75% working interest in 11,280 gross acres (8,460 net acres) in the north east British Columbia Montney for cash consideration of $45 million . The proposed transaction is expected to close on or about October 31, 2019 . The proposed transaction is subject to closing conditions. The acreage outlined in the proposed transaction totals approximately 4% of Painted Pony’s total Montney acreage.
Commenting on the proposed transaction, Patrick Ward , President and CEO of Painted Pony said, “We are very pleased with this sale as it will reduce our balance sheet leverage and improve our financial flexibility without any impact on current production volumes or Proved Developed Producing reserves.” DEFINITIONS AND ADVISORIES Currency : All amounts referred to in this press...
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PAINTED PONY ENERGY LTD.

1200, 520 3 Avenue SW Calgary, Alberta T2P 0R3 P: 403 475-0440 F: 403 238-1487 TF: 1-866-975-0440 E: info@paintedpony.ca

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PAINTED PONY ENERGY LTD.

1200, 520 3 Avenue SW Calgary, Alberta T2P 0R3 P: 403 475-0440 F: 403 238-1487 TF: 1-866-975-0440 E: info@paintedpony.ca