Painted Pony Petroleum Ltd. announced operational update for the first quarter of 2014. For the period, the company has drilled 3 (3.0 net) wells at the core Blair area with a further 2 (2.0 net) wells at Blair currently drilling. In addition to wells currently drilling at Blair, 2 (2.0 net) wells have initiated completions operations. At Townsend, Painted Pony has completed 2 (2.0 net) wells in the first quarter of 2014, which will be brought on production in conjunction with commissioning of the Townsend gas facility. Construction of the 25 million cubic feet per day facility remains on schedule with completion expected at the end of the first quarter of 2014.

The company currently anticipated to result in company production increasing to approximately 11,500 boe/d in the second quarter of 2014.