Odyssey Petroleum Corp.: News Release

Odyssey Petroleum Corp. (TSX VENTURE:ODE)(FRANKFURT:YQN) ("Odyssey") announces
that Odyssey Petroleum Corp. US its wholly owned Mississippi subsidiary has
filed under Chapter 11 of the United States Bankruptcy Code for protection from
its creditors, in order to give the Company the time to work through its present
financial difficulties. Odyssey is currently in negotiations with several
parties to obtain funding to move the Company forward, as well as deal with its
present liabilities, contingent or otherwise.


ON BEHALF OF THE BOARD

Whitney Pansano, President & COO

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.

Odyssey Petroleum Corp. (TSXV:ODE)
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