NOT FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Greenfields Petroleum Corporation (the "Company" or "Greenfields") (TSX VENTURE:GNF) (TSX VENTURE:GNF.DB), announced that Mr. Gerald F. Clark has been appointed to its Board of Directors to replace Mr. Christopher C. Rivett-Carnac, subject to regulatory approval. Mr. Carnac has advised the Company of his resignation effective as of September 4, 2012, in order to more fully address other business commitments.

John W. Harkins, CEO of Greenfields, stated, "It is with deep regret that we must accept the departure of Mr. Carnac. His contributions to Greenfields have been immeasurable. He will be missed."

Mr. Clark has 36 years of experience in the energy industry. He was the Chief Financial Officer of Greenfields from 2008-2009, so has considerable experience with Greenfields and its personnel. Prior to that, he was the Chief Financial Officer of GFI Oil & Gas Corporation from 2007-2008. Most recently Mr. Clark was the Chief Executive Officer and Chief Financial Officer of Ciris Energy, Inc., a privately-funded company.

Mr. Harkins stated, "We are delighted that Mr. Clark has agreed to join Greenfields Board of Directors. Mr. Clark's experience with Greenfields, and his deep financial background, will be a tremendous asset to the Company."

About Greenfields Petroleum Corporation

Greenfields is a junior oil and natural gas company focused on the development and production of proven oil and gas reserves principally in the Republic of Azerbaijan. 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 under-developed international oil and gas fields, also known as "greenfields". More information about the Company may be obtained on the Greenfields website at www.greenfields-petroleum.com.

Forward Looking Statements

The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by Greenfields. Although Greenfields believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Greenfields can give no assurance that they will prove to be correct.

Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties most of which are beyond the control of Greenfields. 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. These risks include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety, political and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Additional risk factors can be found under the heading "Risk Factors" in Greenfields' Annual Information Form and similar headings in Greenfields' Management's Discussion & Analysis which may be viewed on www.sedar.com.

The forward-looking statements contained in this press release are made as of the date hereof and Greenfields undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The Company's forward-looking information is expressly qualified in its entirety by this cautionary statement.