Painted Pony Petroleum Ltd. reported unaudited earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, the company reported comprehensive income was $1,457,000 or $0.02 diluted earnings per share on revenue of $20,528,000 compared to comprehensive income of $4,513,000 or $0.09 diluted earnings per share on revenue of $16,621,000 for the same period a year ago. Funds flow from operations was $12,517,000 or $0.19 diluted per share compared to $10,411,000 or $0.20 diluted per share for the same period a year ago. Capital expenditures was $54,452,000 compared to $35,929,000 for the same period a year ago. Cash flows from operating activities were $12,889,000 compared to $10,200,000 a year ago. For the year, the company reported comprehensive income was $6,542,000 or $0.11 diluted earnings per share on revenue of $73,936,000 compared to comprehensive income of $9,222,000 or $0.19 diluted earnings per share on revenue of $58,283,000 for the same period a year ago. Funds flow from operations was $44,150,000 or $0.73 diluted per share compared to $36,393,000 or $0.77 diluted per share for the same period a year ago. Capital expenditures was $162,868,000 compared to $124,104,000 for the same period a year ago. Cash flows from operating activities were $44,884,000 compared to $35,474,000 a year ago. Looking ahead to the balance of 2012, the company's capital plans call for the drilling of 26 (18.1 net) wells, including 23 (14.2 net) targeting light oil projects.