Greenfields Petroleum Corporation Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2016

Greenfields Petroleum Corporation is a junior oil and natural gas exploration and development company. The Company focuses on the development and production of oil and gas reserves principally in the Republic of Azerbaijan (Azerbaijan). The Company, through Bahar Energy Limited, holds interest in the Bahar Project. The Bahar project includes over 76,500 acres of producing oil field and a producing gas field located approximately 10 kilometers offshore Azerbaijan in shallow waters (over 10 meters) of the Caspian Sea. The Bahar Project consists of Contract Rehabilitation Area, including Bahar Gas Field and the Gum Deniz Oil Field, and the Exploration Area. The properties associated with the Bahar Project are located in the shallow waters of the Caspian Sea, south of the Apsheron Peninsula and to the east of Baku, Azerbaijan.