GNF Greenfields Petroleum Corp

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS.


Greenfields Petroleum Corporation ("Greenfields" or the "Company") (TSX
VENTURE:GNF)(TSX VENTURE:GNF.DB), an independent exploration and production
company with assets in Azerbaijan, is pleased to announce recent operational
results.


June 2013 operating highlights



--  The Company's estimated entitlement sales volumes from production for
    its net interest in the Bahar Project averaged 574 bbl/d and 6,673
    mcf/d, or 1,686 boe/d for the month of June 2013 versus 443 bbl/d and
    3,405 mcf/d, or 1,011 boe/d, for the quarter ended March 31, 2013.
    Production of oil and gas has been increasing steadily due to our
    drilling operations in the Gum Deniz Field and workover operations in
    the Bahar Gas Field.

--  During June 2013, Bahar Energy continued drilling operations on the Gum
    Deniz 716 well in the central area of the field setting 9-5/8" casing at
    2,096 meters. The rig has drilled out the bottom of casing with an 8-
    3/8" bit and is currently drilling at 2,440 meters. We expect the 716
    well to reach target depth within the week. The workover on the 209 well
    in the Bahar Gas Field continues with perforating and testing zone IX
    for additional field production. To increase our oil development
    activities, a crew has been mobilized to begin rigging up and
    commissioning our second drilling rig, PSG3, on platform 208a in the Gum
    Deniz Field. We expect to spud the first well on the 208a platform by
    early September 2013.

--  The Bahar 2 Exploration Area 3-D survey processing has been completed.
    Interpretation is underway and is expected to be completed in Q3 2013.

--  The contract for the 200 square kilometer Gum Deniz 3-D seismic was
    awarded to PGS-Khazar. The contractor has commenced mobilizing the
    equipment and obtaining the necessary permits to begin seismic
    acquisition in mid-Q3 2013. The seismic acquisition is expected to take
    approximately 4-5 months depending on weather and other factors.

--  As a result of a recent internal reorganization of the Company and the
    Company continuing to focus greater attention on the Bahar Project,
    Greenfields estimates that it will be able to reduce its corporate
    general and administrative expenses by one third by year-end 2013. The
    reductions are primarily being realized by eliminating business
    development activities and relocating some of the technical activities
    into cost recoverable operating subsidiaries in Azerbaijan. 



About Greenfields Petroleum Corporation

Greenfields is a junior oil and natural gas corporation focused on the
development and production of proven oil and gas reserves principally in the
Republic of Azerbaijan. The Company plans to expand its oil and gas assets
through further farm-ins and acquisitions of Production Sharing Agreements from
foreign governments containing previously discovered but under-developed
international oil and gas fields, also known as "greenfields". More information
about the Company may be obtained on the Greenfields website at
www.greenfields-petroleum.com.


Forward-Looking Statements

The forward-looking statements contained in this press release are based on
certain key expectations and assumptions made by Greenfields. Although
Greenfields believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because Greenfields can give no
assurance that they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they involve inherent
risks and uncertainties most of which are beyond the control of Greenfields.
Should one or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking information prove incorrect, actual
results, performance or achievements could vary materially from those expressed
or implied by the forward-looking information. These risks include, but are not
limited to, risks associated with the oil and gas industry in general (e.g.,
operational risks in development, exploration and production; delays or changes
in plans with respect to exploration or development projects or capital
expenditures; the uncertainty of reserve estimates; the uncertainty of estimates
and projections relating to production, costs and expenses, and health, safety,
political and environmental risks), commodity price and exchange rate
fluctuations and uncertainties resulting from potential delays or changes in
plans with respect to exploration or development projects or capital
expenditures. Additional risk factors can be found under the heading "Risk
Factors" in Greenfields' Annual Information Form and similar headings in
Greenfields' Management's Discussion & Analysis which may be viewed on
www.sedar.com. 


The forward-looking statements contained in this press release are made as of
the date hereof and Greenfields undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws. The Company's forward-looking information is expressly
qualified in its entirety by this cautionary statement.


Note to Oil and Gas Disclosures

Boe may be misleading, particularly if used in isolation. A boe conversion ratio
of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Greenfields Petroleum Corporation
John W. Harkins
Chief Executive Officer
(832) 234-0836


Greenfields Petroleum Corporation
A. Wayne Curzadd
Chief Financial Officer
(832) 234-0835
info@greenfieldspetroleum.com
www.greenfields-petroleum.com


CHF
Robin Cook
Senior Account Manager
(416) 868-1079 x 228

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