Painted Pony Reports 321% in its 2011 Year-End Reserve

Painted Pony Petroleum Ltd. (TSXV:PPY.A) reported an increased proved plus probable reserves to 136.9 mmboe, up 321% in its 2011 year-end reserves report and land valuation.

As quoted in the press release:

The highlights of Painted Pony’s 2011 year end reserve and land reports include:

• increased the net present value, discounted at 8%, before income taxes, of proved plus probable reserves to $1.3 billion ($1.1 billion discounted at 10%);

• increased proved plus probable reserves to 136.9 mmboe, up 321% from 32.5 mmboe at December 31, 2010; with approximately 12% of its Montney land base assigned reserves;

Click here to read the Painted Pony Petroleum Ltd. (TSXV:PPY.A) press release.