Odyssey Petroleum Corp.: Default Status Report Pursuant to National Policy "12-203"

Odyssey Petroleum Corp. (the "Company") (TSX VENTURE:ODE) announces further to
its Default Status Report of June 14, 2010 that it has not yet been able to
finalize its annual audited financial statements for the year ended December 31,
2009 (the "Financial Statements"). In connection with the Company's inability to
file the Annual Financial Statements on time, the Company applied to applicable
Canadian securities regulators requesting that a management cease trade order
("MCTO") (which restricts trading in the Company's securities by the Company's
insiders) be issued as opposed to an issuer cease trade order (which restricts
all trading in the Company's securities). An MCTO was received from the B.C.
Securities Commission on June 18, 2010. 


Based on the auditor's updated projection, the Company expects its Financial
Statements to be filed on or about June 28, 2010. Upon completion and filing of
the Financial Statements, the Company will file its first quarter interim
financials for the period ended March 31, 2010 as soon as possible thereafter,
which were due to be filed by May 31, 2010. 


As long as the Company remains in default, it will continue to satisfy the
provisions of 12-203 by filing a bi-weekly Default Status Report containing the
prescribed information.


DATED this 21st day of June, 2010.

ODYSSEY PETROLEUM CORP. 

Joe DeVries, Chief Executive Officer

Forward-Looking Statements:

Statements in this release that are forward-looking statements are subject to
various risks and uncertainties concerning the specific factors identified in
ODE's periodic filings with Canadian and European Securities Regulators. Such
forward-looking information represents management's best judgment based on
information currently available. No forward-looking statement can be guaranteed
and actual future results may vary materially. ODE does not assume the
obligation to update any forward-looking statement.