Odyssey Petroleum Corp.
TSX VENTURE : ODE
FRANKFURT : YQN

Odyssey Petroleum Corp.

September 10, 2007 12:14 ET

Odyssey Petroleum Corp.: Completion of the Harold Karges 1A Well at Pelatachie

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2007) - Odyssey Petroleum Corp. (TSX VENTURE:ODE)(FRANKFURT:YQN) advises that it has moved the drilling rig off location and moved a workover rig on the Karges 1A well in order to bring the well into production. Production facilities, including well head, production tubing, and holding tanks with flow lines have been installed.

After running and cementing in approximately 11,400 ft of 51/2 inch production casing in the well, Odyssey engaged Baker Atlas to run a cased hole evaluation log in order to gleam additional clues on productive zones found in the well. The log results indicated even more production possibilities than originally evaluated with the open hole logs which had been run at the time of reaching total depth in the well.

With more positive indicators than expected, Odyssey's petroleum engineers with caution engaged another company - Halliburton Wireline - to run their suite of logs over some of the same log intervals in order to provide an independent evaluation of the Baker Atlas open hole and cased hole results. This logging was completed during the weekend. Management is pleased to report that the Halliburton log confirmed significant positive oil and/or gas production signatures in numerous intervals from 6,800 ft subsurface to 11,400 ft subsurface.

Today Odyssey is running a bond log in order to verify that the cement surrounding the first zone targeted for completion (at 11,300 ft) is good, and if so, Odyssey intends to perforate the well for production using a deep penetration casing gun. Following production perforations, the workover rig will then run 11,200 ft of 2 7/8ths tubing in the hole with a packer, thereby setting the well up for swabbing test in the next day or two. The results of the production test will be announced as soon as obtained.

About Odyssey Petroleum Corp.

Odyssey Petroleum Corp. is a Canadian based junior oil and gas company traded publicly under the symbol ODE on the TSX-V Exchange. The Company holds assets of approximately $37,000,000 in five majority controlled oil and gas fields located in the States of Louisiana and Mississippi, U.S.A. The Company's mission is the discovery and development of economic oil and gas through the exploration of high quality projects located primarily in the Southeastern United States. Odyssey Petroleum Corp.'s website is www.odysseypetroleum.com.

ON BEHALF OF THE BOARD

Whitney Pansano, C.O.O. and President

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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