Greenfields Petroleum Corporation

January 07, 2011 17:25 ET

Greenfields Petroleum Corporation Announces Interim CFO

CALGARY, ALBERTA--(Marketwire - Jan. 7, 2011) - Greenfields Petroleum Corporation ("Greenfields" or the "Company") announced today that A. Wayne Curzadd currently Vice President and Controller, will serve as interim CFO, replacing Mark Witt who is leaving the Company to pursue other opportunities. Mr. Witt will continue to provide consultation to the Company regarding financial matters. Mr. Curzadd has been with the Company since its inception and served as Vice President and Controller for its predecessor GFI Oil & Gas Corporation. Mr. Curzadd has over 35 years of international and domestic oil and gas experience in the financial and business systems fields and has served in key management positions with major independent oil companies, as well as provided consulting services to large multi-national energy clients. Mr. Curzadd holds a Bachelor of Science degree in Accounting from Oklahoma State University and is a CPA.

Mr. John W. Harkins, President and CEO stated "We are very grateful for Mark's guidance through our successful IPO process and are looking forward to continuing our long relationship through his financial advisory services. We are also very fortunate that we are able to draw on Wayne's depth of experience until a permanent CFO is onboard."

United States Advisory

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), have been offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

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's shares trade on the TSX Venture Exchange under the symbol GNF.S. 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 undeveloped international oil and gas fields. 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 information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Greenfields, including, without limitation, those listed under the headings "Notice to Investors – Special Note Regarding Forward-Looking Statements" and "Risk Factors" in Greenfields final prospectus and in the Corporation's third quarter MD&A which may be viewed on www.sedar.com. Forward-looking information in this press release includes, but is not limited to, information concerning potential future acquisitions. 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.

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.

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