Odyssey Petroleum Corp.
TSX VENTURE : ODE
FRANKFURT : YQN

Odyssey Petroleum Corp.

March 18, 2008 12:16 ET

Odyssey Petroleum Corp.: Drilling Progress in Pelahatchie Field

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2008) - Odyssey Petroleum Corp. (TSX VENTURE:ODE) (FRANKFURT:YQN) is pleased to announce that the drilling of the Harold Karges 18-7 #1 in Pelahatchie Field, Rankin County, Mississippi is progressing well (see the Company's News Release dated March 13, 2008 for further information). As of this morning, drilling had proceeded past 2,000 feet. At 3,900 feet, the Company plans to set 8 5/8th surface casing and cement it in. Then we will continue drilling to the projected depth of 11,500 feet, to access and develop numerous formations found to be productive in the field. Please view the Company's website www.odysseypetroleum.com for photographs of the Harold Karges 18-7 #1 well.

Drilling is expected to take approximately 21 days. When total depth is reached, Odyssey's production personnel will assume operations for the logging, evaluation, and completion of the well. Placing production casing in the drilled hole and installation of other production facilities is expected to be complete within 10 days of drilling of the well.

The Company intends to continue to provide a weekly update as drilling progresses.

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'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. For investor information, call (604) 718-2800 or fax (604) 718-2808.

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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