Greenfields Petroleum Corporation Announces Recent Operational Results as of July 31, 2013

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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 recent operational
results.


July 2013 Operating Highlights



--  The Company's estimated entitlement sales volumes from production for
    its net interest in the Bahar Project averaged 562 bbl/d and 6,199 mcf/d
    or 1,596 boe/d during July 2013 versus 519 bbl/d and 4,189 mcf/d or
    1,217 boe/d estimated for the six months ended June 30, 2013. Production
    of oil and gas has been increasing steadily due to successful drilling
    operations in the Gum Deniz Field and workover operations in the Bahar
    Gas Field.

--  During July 2013, Bahar Energy Operating Company completed drilling
    operations on the Gum Deniz 716 well in the central area of the field
    setting 7" production casing at 2,891 meters. The well encountered 244
    meters of oil pay in eight productive intervals and has been completed
    in the SP zone which had 43 meters of pay. The SP zone was selectively
    perforated with 12 shots per foot across 15 meters within that interval.
    Post completion, the well has demonstrated good productivity with
    production rates varying between 500 to 1,000 bbl/d at various choke
    sizes. During the first ten days of production (IP10), the well flowed
    an average of 672 bbl/d and 52 bwpd with 7% water cut on an 11 mm choke
    at 750 psi TFP and 1,700 scf/BO.

--  The PSG-1 drilling rig is being skidded over to drill the 714 well,
    which will spud shortly. The 714 well targets similar structures in the
    Gum Deniz Field as the recent 715 and 716 oil wells.

--  A workover on Bahar 209 successfully recompleted the well in Horizon-I
    at a rate of 2 mmcfd.

--  The PSG-3 rig is now being mobilized to Platform 208 where it will
    commence re-development in the eastern area of Gum Deniz Field. The
    first well is expected to spud in September.

--  A contract has been awarded to PGS-Khazar for the acquisition of 200
    square kilometers of 3-D seismic over Gum Deniz Field. The contractor
    continues to mobilize and is expected to commence acquisition in August
    after all permits have been granted. The acquisition is expected to take
    4-5 months depending on weather and other factors.



John W. Harkins, CEO of Greenfields, stated, "We are very pleased with the
recent drilling success on the GD 715 and 716 wells. Both wells have
demonstrated significant undepleted oil pay sections of between 150 to 250
meters in this part of the oil field. Also, we are pleased that these wells are
maintaining oil production rates two to three times our pre-drill estimates.


"Current gross production is double the Q1 2013 production rates, which is
significantly growing the project cash flows. As the project continues to add
production by drilling new oil wells and through the recompletions in Gum Deniz
and Bahar fields, we expect to soon be above 7,000 barrels oil equivalent per
day. We anticipate that this production will permit the project to maintain its
target threshold of 6,944 barrels oil equivalent per day for 90 days, after
which the term of the ERDPSA will convert to a minimum of 25 years."


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 Company's press releases contain forward-looking information that involve
substantial known and unknown risks and uncertainties, most of which are beyond
the control of Greenfields, including, without limitation, those listed 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.
Forward-looking information in this press release may include, but is not
limited to, information concerning its future operations.


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.
These forward-looking statements are made as of the date of this press release
and, other than as required by applicable securities laws, Greenfields does not
assume any obligation to update or revise them to reflect new events or
circumstances.


Notes to Oil and Gas Disclosures

Barrels Oil Equivalent or "boe" may be misleading, particularly if used in
isolation. A boe conversion ratio of 6mcf: 1bbl is based on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead. The Company uses a 6mcf: 1bbl
ratio to calculate its share of entitlement sales from the Bahar project. The
production threshold of 6,944 boe to earn the full 25 year initial term of the
ERDPSA uses a 5.559 mcf: 1bbl conversion ratio per contract to measure total
field production toward this obligation.


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
[phone]


Greenfields Petroleum Corporation
A. Wayne Curzadd
Chief Financial Officer
[phone]
[e-mail]
www.greenfields-petroleum.com


CHF Senior Account Manager
Robin Cook
[phone] x 228