CALGARY - Painted Pony Energy Ltd. ('Painted Pony' or the 'Corporation') (TSX: PONY) is pleased to announce the results from the 2020 Annual General and Special Meeting of Shareholders held on May 7, 2020 (the 'Meeting').

ELECTION OF DIRECTORS

Shareholders elected each of the nominees proposed by management as set forth in the information circular of the Corporation dated March 20, 2020.

Each of the directors elected at the meeting will hold office until the close of the next annual meeting of shareholders of the Corporation or until his or her successor is duly elected or appointed pursuant to the by-laws of the Corporation.

Detailed voting results for all resolutions considered by shareholders at the meeting are contained in the report of voting results, which was filed on SEDAR under Painted Pony's profile at www.sedar.com.

BOARD AND COMMITTEE MEMBERSHIP

The Corporation has the following committees: Audit and Risk Committee, Compensation and HR Committee, Governance Committee, Nominating Committee and Reserves and HSE Committee.

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 'PONY'.

Contact:

Jason W. Fleury

Tel: (403) 776-3261

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