Greenfields Petroleum Corporation Announces Common Share Financing of up to C$10.2 Million

NOT 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 (the "Company" or "Greenfields") (TSX
VENTURE:GNF), an independent exploration and production company with producing
assets in Azerbaijan, is pleased to announce that it has filed a preliminary
short form prospectus in all of the provinces of Canada, except Quebec, in
connection with a marketed public offering (the "Brokered Offering") of common
shares of Greenfields (the "Common Shares") on a commercially reasonable efforts
agency basis.


The Company proposes to issue up to 1,000,000 Common Shares pursuant to the
Brokered Offering at a price of C$3.40 per Common Share for gross proceeds of
$3,400,000. The Brokered Offering will be led by FirstEnergy Capital Corp. on
behalf of a syndicate of agents to be determined (collectively the "Agents").


In addition to the Brokered Offering, Greenfields proposes to conduct, prior to
or concurrent with the Brokered Offering, a non-brokered private placement of up
to 2,000,000 Common Shares at a price of C$3.40 per Common Share to certain
current institutional shareholders of the Company (the "Non-Brokered Private
Placement" and together with the Brokered Offering, the "Financing").


The aggregate gross proceeds from the Financing are up to C$10,200,000. The
Company intends to use the net proceeds from the Financing to fund the Company's
share of the Gum Deniz Oil Field and the Bahar Gas Field capital expenditures,
to pay interest expenses relating to the Company's outstanding convertible
debentures and to cover administrative and other expenses.


The Financing is subject to customary conditions and the receipt of required
regulatory approvals, including the approval of the TSX Venture Exchange. The
completion of the Brokered Offering is conditional upon the completion of the
Non-Brokered Private Placement. The Financing is scheduled to close on or about
June 27, 2013, or such other date as the Company and the Agents may agree. The
Common Shares issuable pursuant to the Non-Brokered Private Placement will be
subject to a four-month hold period under applicable Canadian securities laws.


This news release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities in the United States, nor shall there be any sale
of the Common Shares in any jurisdiction in which such offer, solicitation or
sale may be unlawful. The Common Shares have not been and will not be registered
under the 1933 Act or any U.S. state securities laws and may not be offered or
sold in the United States absent registration under the 1933 Act or an
applicable exemption from the registration requirements of the 1933 Act and
applicable U.S. state securities laws.


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 information and statements in this news release contains certain
forward-looking information. This forward-looking information relates to future
events or Greenfields' future performance. In particular, this document contains
forward-looking information and statements regarding: (i) the completion of the
Financing, (ii) the expected closing date of the Financing; (iii) the use of
proceeds of the Financing; and (iv) future capital expenditures and projects.
All statements other than statements of historical fact may be forward-looking
information. This forward-looking information is subject to certain risks and
uncertainties and may be based on assumptions that could cause actual results to
differ materially from those anticipated or implied in the forward-looking
information. The outcome and timing of the proposed Financing, as well as the
Company's actual results, performance or achievement could differ materially
from those expressed in, or implied by, such forward-looking information and,
accordingly, no assurances can be given that any of the events anticipated by
the forward-looking information will transpire or occur or, if any of them do,
what benefits that the Company will derive from them. 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.


Accordingly, prospective investors should not place undue reliance on these
forward-looking statements. The Company's forward-looking information is
expressly qualified in its entirety by this cautionary statement. These
forward-looking statements are made as of the date of this press release and,
except as required by law, the Company undertakes no obligation to publicly
update or revise any forward-looking information. 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) 234-0800


Greenfields Petroleum Corporation
A. Wayne Curzadd
Chief Financial Officer
(832) 234-0800


Greenfields Petroleum Corporation
Robin Cook
CHF Senior Account Manager
(416) 868-1079 x 228
info@greenfieldspetroleum.com
www.greenfields-petroleum.com
Greenfields Petroleum (TSXV:GNF)
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