-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 WOwVfF7WOpy/uzLAwpoKTMTtIGeVlj6g31hmZHs6hgXrilhS7v8o5wikv+Ts2Ank
 +Hv7dFqcHssvJGo//zu4yA==

<SEC-DOCUMENT>0001422471-11-000001.txt : 20110302
<SEC-HEADER>0001422471-11-000001.hdr.sgml : 20110302
<ACCEPTANCE-DATETIME>20110302160843
ACCESSION NUMBER:		0001422471-11-000001
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20110302
DATE AS OF CHANGE:		20110302
EFFECTIVENESS DATE:		20110302

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAINTED PONY PETROLEUM LTD
		CENTRAL INDEX KEY:			0001422471
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-156107
		FILM NUMBER:		11656378

	BUSINESS ADDRESS:	
		STREET 1:		300, 602 - 12 AVENUE S.W.
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2R 1J3
		BUSINESS PHONE:		(403) 475-0440

	MAIL ADDRESS:	
		STREET 1:		300, 602 - 12 AVENUE S.W.
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2R 1J3
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001422471</cik>
        <entityName>PAINTED PONY PETROLEUM LTD</entityName>
        <issuerAddress>
            <street1>300, 602 - 12 AVENUE S.W.</street1>
            <city>CALGARY</city>
            <stateOrCountry>A0</stateOrCountry>
            <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
            <zipCode>T2R 1J3</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(403) 475-0440</issuerPhoneNumber>
        <jurisdictionOfInc>ALBERTA, CANADA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <previousName>1300873 Alberta Ltd.</previousName>
            <previousName>BFL Energy Ltd.</previousName>
            <previousName>1369127 Ontario Inc.</previousName>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Patrick</firstName>
                <middleName>R.</middleName>
                <lastName>Ward</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ronald</firstName>
                <middleName>R.</middleName>
                <lastName>Talbot</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Glenn</firstName>
                <middleName>R.</middleName>
                <lastName>Carley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kevin</firstName>
                <lastName>Angus</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Allan</firstName>
                <middleName>K.</middleName>
                <lastName>Ashton</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Arthur</firstName>
                <middleName>J.G.</middleName>
                <lastName>Madden</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <lastName>Belenkie</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Joan</firstName>
                <middleName>E.</middleName>
                <lastName>Dunne</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <lastName>French</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <middleName>S.</middleName>
                <lastName>Thomson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Bruce</firstName>
                <lastName>Mezei</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mary Kay</firstName>
                <lastName>Axford</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Doug</firstName>
                <lastName>McCartney</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300, 602 - 12 Avenue SW</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2R 1J3</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Oil and Gas</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$25,000,001 - $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2011-02-17</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Cormark Securities (USA) Ltd.</recipientName>
                <recipientCRDNumber>101000</recipientCRDNumber>
                <associatedBDName>Cormark Securities Inc.</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>Ste. 2800</street1>
                    <street2>Royal Bank Plaza South Tower</street2>
                    <city>Toronto</city>
                    <stateOrCountry>A6</stateOrCountry>
                    <stateOrCountryDescription>ONTARIO, CANADA</stateOrCountryDescription>
                    <zipCode>M5J 2J2</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>20187875</totalOfferingAmount>
            <totalAmountSold>20187875</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse>U.S. dollar amounts are based on the Bank of Canada noon rate of exchange reported on February 17, 2011, which was Cdn$0.9839=US$1.00.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>11</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>1009394</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>In the ordinary course of business, the issuer may use some of the proceeds of the offering to pay salaries to certain of its executive officers and directors.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>PAINTED PONY PETROLEUM LTD</issuerName>
                <signatureName>/s/ Doug McCartney</signatureName>
                <nameOfSigner>Doug McCartney</nameOfSigner>
                <signatureTitle>Corporate Secretary</signatureTitle>
                <signatureDate>2011-03-02</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----