Greenfields Petroleum Corporation, an independent exploration and production company with assets in Azerbaijan, is pleased to announce recent operational results.

June 2013 operating highlights

■ The Company's estimated entitlement sales volumes from production for its net interest in the Bahar Project averaged 574 bbl/d and 6,673 mcf/d, or 1,686 boe/d for the month of June 2013 versus 443 bbl/d and 3,405 mcf/d, or 1,011 boe/d, for the quarter ended March 31, 2013. Production of oil and gas has been increasing steadily due to our drilling operations in the Gum Deniz Field and workover operations in the Bahar Gas Field. ■ During June 2013, Bahar Energy continued drilling operations on the Gum Deniz 716 well in the central area of the field setting 9-5/8" casing at 2,096 meters. The rig has drilled out the bottom of casing with an 8-3/8" bit and is currently drilling at 2,440 meters. We expect the 716 well to reach target depth within the week. The workover on the 209 well in the Bahar Gas Field continues with perforating and testing zone IX for additional field production. To increase our oil development activities, a crew has been mobilized to begin rigging up and commissioning our second drilling rig, PSG3, on platform 208a in the Gum Deniz Field. We expect to spud the first well on the 208a platform by early September 2013.

Tags: Greenfields Petroleum Corporation