Greenfields Petroleum Corporation Announces Access to Funding Through the Execution of a US$21 Million Loan Agreement

Greenfields Petroleum Corporation Announces Access to Funding Through the 
Execution of a US$21 Million Loan Agreement 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: Greenfields Petroleum Corporation 
TSX VENTURE SYMBOL:  GNF
TSX VENTURE SYMBOL:  GNF.DB 
JULY 2, 2014 
Greenfields Petroleum Corporation Announces Access to Funding Through the
Execution of a US$21 Million Loan Agreement 
HOUSTON, TEXAS--(Marketwired - July 2, 2014) -  
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR 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 ("Greenfields" or the
"Company") (TSX VENTURE:GNF)(TSX VENTURE:GNF.DB), an independent
exploration and production company with assets in Azerbaijan, is pleased to
announce that it has secured a US$21 million loan facility ("Loan")
with an arm's length third party (the "Lender") arranged through
Meridian SEZC. The funds available under the Loan are intended to be used to
finance the ongoing development operations of Bahar Energy Limited in
Azerbaijan as it relates to the Gum Deniz Oil Field and Bahar Gas Field. 
Pursuant to the terms of the loan agreement (the "Loan Agreement")
dated June 27, 2014, among the Lender, the Company, and Greenfields Petroleum
Holdings Ltd., as guarantor, the Company is entitled to draw up to an aggregate
of US$21 million as needed for the purposes of operations to meet the
obligations of Greenfields Petroleum International Company Ltd.
("GPIC") under the Bahar Energy Limited shareholders agreement. The
amount drawn under the Loan bears interest at a rate of 12% per annum. The Loan
has a maturity date of June 30, 2018. The Loan is subject to a 0.15% commitment
fee on the US$21 million payable to Lender at the time of the first advance
under the Loan Agreement. The Loan is secured by a second priority lien on the
shares of GPIC. 
The Company intends on continuing its discussions with potential lenders with
respect to eventually replacing the loan on more favorable terms with reserve
based lending. 
About Greenfields Petroleum Corporation 
Greenfields is a junior oil and natural gas corporation 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 
This press release contains forward-looking statements. More particularly, this
press release may include, but is not limited to, statements concerning the
intended use of the funds from the Loan and with respect to obtaining reserve
based lending. In addition, the use of any of the words "initial,
"scheduled", "can", "will", "prior to",
"estimate", "anticipate", "believe",
"should", "forecast", "future",
"continue", "may", "expect", and similar
expressions are intended to identify forward-looking statements. The
forward-looking statements contained herein are based on certain key
expectations and assumptions made by the Company, including, but not limited
to, expectations and assumptions concerning the success of optimization and
efficiency improvement projects, the availability of capital, current
legislation, receipt of required regulatory approval, the success of future
drilling and development activities, the performance of existing wells, the
performance of new wells, general economic conditions, availability of required
equipment and services, weather conditions and prevailing commodity prices.
Although the Company 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 the Company 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. Actual results could differ materially from
those currently anticipated due to a number of factors and risks. These
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 and environmental risks), commodity price and exchange rate
fluctuations, changes in legislation affecting the oil and gas industry and
uncertainties resulting from potential delays or changes in plans with respect
to exploration or development projects or capital expenditures. Additional
information on these and other factors that could affect the Company's
operations and financial results are included under the headings "Risk
Factors" in Greenfield's Annual Information Form, its Management
Information Circular and similar headings in the Company's
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 the Company 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.  
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 
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FOR FURTHER INFORMATION PLEASE CONTACT: 
Greenfields Petroleum Corporation
John W. Harkins
Chief Executive Officer
(832) 234-0836
or
Greenfields Petroleum Corporation
A. Wayne Curzadd
Chief Financial Officer
(832) 234-0835
info@greenfieldspetroleum.com 
INDUSTRY:  Energy and Utilities - Oil and Gas  
SUBJECT:  STK 
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-0- Jul/02/2014 11:30 GMT
 
 
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