Greenfields Petroleum Corporation Announces Access to Funding Through the Execution of a US$21 Million Loan Agreement

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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 that it has secured a
US$21 million loan facility ("Loan") with an arm's length third party (the
"Lender") arranged through Meridian SEZC. The funds available under the Loan are
intended to be used to finance the ongoing development operations of Bahar
Energy Limited in Azerbaijan as it relates to the Gum Deniz Oil Field and Bahar
Gas Field.


Pursuant to the terms of the loan agreement (the "Loan Agreement") dated June
27, 2014, among the Lender, the Company, and Greenfields Petroleum Holdings
Ltd., as guarantor, the Company is entitled to draw up to an aggregate of US$21
million as needed for the purposes of operations to meet the obligations of
Greenfields Petroleum International Company Ltd. ("GPIC") under the Bahar Energy
Limited shareholders agreement. The amount drawn under the Loan bears interest
at a rate of 12% per annum. The Loan has a maturity date of June 30, 2018. The
Loan is subject to a 0.15% commitment fee on the US$21 million payable to Lender
at the time of the first advance under the Loan Agreement. The Loan is secured
by a second priority lien on the shares of GPIC.


The Company intends on continuing its discussions with potential lenders with
respect to eventually replacing the loan on more favorable terms with reserve
based lending.


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

This press release contains forward-looking statements. More particularly, this
press release may include, but is not limited to, statements concerning the
intended use of the funds from the Loan and with respect to obtaining reserve
based lending. In addition, the use of any of the words "initial, "scheduled",
"can", "will", "prior to", "estimate", "anticipate", "believe", "should",
"forecast", "future", "continue", "may", "expect", and similar expressions are
intended to identify forward-looking statements. The forward-looking statements
contained herein are based on certain key expectations and assumptions made by
the Company, including, but not limited to, expectations and assumptions
concerning the success of optimization and efficiency improvement projects, the
availability of capital, current legislation, receipt of required regulatory
approval, the success of future drilling and development activities, the
performance of existing wells, the performance of new wells, general economic
conditions, availability of required equipment and services, weather conditions
and prevailing commodity prices. Although the Company 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 the Company 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. Actual
results could differ materially from those currently anticipated due to a number
of factors and risks. These 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 and environmental risks),
commodity price and exchange rate fluctuations, changes in legislation affecting
the oil and gas industry and uncertainties resulting from potential delays or
changes in plans with respect to exploration or development projects or capital
expenditures. Additional information on these and other factors that could
affect the Company's operations and financial results are included under the
headings "Risk Factors" in Greenfield's Annual Information Form, its Management
Information Circular and similar headings in the Company's 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 the Company 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. 


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
Greenfields Petroleum (TSXV:GNF)
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