Greenfields Petroleum Corporation Announces Grant of Common Shares

HOUSTON, TEXAS--(Marketwired - July 2, 2014) -

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)(TSX VENTURE:GNF.DB), an independent exploration and production company with producing assets in Azerbaijan, announced today that 410,000 common shares ("Common Shares") of the Company were granted to certain officers and a director of the Company ("Grantees") pursuant to existing agreements with the Grantees. The Common Shares vest in two tranches, with 50% of the Common Shares vesting on July 1, 2014 and the remaining 50% of the Common Shares vesting on July 1, 2015. The deemed price of the Common Shares vested on July 1, 2014 was Cdn$3.00.

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.

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