Painted Pony Energy Ltd (CVE:PPY) hit a new 52-week low during trading on Monday . The company traded as low as C$2.96 and last traded at C$2.97, with a volume of 969,119 shares changing hands. The stock had previously closed at C$5.14.

The stock’s 50 day moving average price is $5.21 and its 200-day moving average price is $7.33.

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About Painted Pony Energy

Painted Pony Petroleum Ltd. is engaged in the exploration, development and production of petroleum and natural gas resources. The Company focuses on light oil in southeast Saskatchewan and central Alberta and natural gas in northeast British Columbia. During the year ended December 31, 2011, in Saskatchewan, it drilled 27 horizontal and two vertical wells targeting light oil in the Bakken and Mississippian formations in the Midale, Huntoon, Kisbey and Flat Lake areas.

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