Odyssey Petroleum Corp.
TSX VENTURE : ODE
FRANKFURT : YQN

Odyssey Petroleum Corp.

December 24, 2010 13:05 ET

Odyssey Files Reserves and Other Oil and Gas Data

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 24, 2010) - Odyssey Petroleum Corp. (TSX VENTURE:ODE)(FRANKFURT:YQN) (the "Company" or "ODE") has today filed its NI 51-101F1 Oil and Gas Report containing information as at its fiscal year ended December 31, 2009, as mandated by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators, together with NI 51-101 F2 – Report on Reserves Data by Independent Qualified Reserves Evaluator, and NI 41-101F3 – Report of Management and Directors on Reserves Data and Other Information. Copies of these Reports may be obtained at www.sedar.com or by contacting the Company.

The Company is now up-to-date with its continuous disclosure filings, and will immediately apply to the B.C. Securities Commission for a revocation of the Cease Trade Order issued against it on December 2, 2010. Upon receipt of a revocation of the Cease Trade Order, the Company will apply to the TSX Venture Exchange to be reinstated for trading as a Tier 2 Issuer.

ON BEHALF OF THE BOARD

Joe DeVries, Chief Executive Officer

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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