Odyssey Petroleum Corp.

Odyssey Petroleum Corp.

September 24, 2007 13:51 ET

Odyssey Petroleum Corp.: The Harold Karges 1A Well at Pelatachie in Production

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2007) - Odyssey Petroleum Corp. (TSX VENTURE:ODE)(FRANKFURT:YQN) advises that the Company has completed the recently drilled Harold Karges 1A well in Pelahatchie Field in the prolific 11,300 Hosston Formation. Testing over the past four days resulted in an initial swab test at rates from 220 to 480 barrels per day on an open choke and then a stabilized flowing (last 75 hours) rate averaging 100 barrels of oil per day with no water on a 14/64ths choke with tubing pressure of 215 psi. Drilled to 11,500 ft, the Karges 1A well encountered numerous potential productive zones beginning at the Tuscaloosa depositions at 6800 ft subsurface through the multiple Hosston formations at 11,400 ft subsurface. These stacked "pay zones" will now become future offset developmental drilling targets.

The Pelahatchie Field, Rankin County, Mississippi is located in central Mississippi, 20 miles east of Jackson, Mississippi and in the Mississippi Interior Salt Basin, where oil and gas development has made Mississippi the 13th largest producing state. The Company controls over 4000 gross mineral acres in the Pelahatchie Field and is currently producing nine wells on the property. National Instrument 51-101 engineering reports by Fletcher Lewis an independent Petroleum Engineer and qualified reserves evaluator, which only address some of the known producing formations in the field, estimate that there are 33,759,039 Barrels of Oil and 94,028,231 MCFs of gas in the Producing, Proved Undeveloped, Probable and Possible reserves categories to be recovered from primary production techniques in the field.

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.


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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