Greenfields Petroleum Corporation

Greenfields Petroleum Corporation TSX.V: GNF & GNF.DB Investor Bahar Update May 2014

Forward-Looking Statements This presentation contains forward-looking statements. More particularly, this presentation contains statements concerning the anticipated future corporate plans and initiatives for Greenfields Petroleum Corporation ( Greenfields ). Some of the forward-looking statements can be identified by words such as expects, anticipates, should, believes, plans, will and similar expressions. Specifically, forward-looking statements in this presentation include the anticipated milestones schedule, the amount of anticipated net annual cash flow and the company s drilling program. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by Greenfields, including expectations and assumptions concerning timing of receipt of required shareholder, regulatory or third party approvals, the availability of equity investment, the ability to acquire assets, the success of future drilling and development activities, the performance of existing wells, the performance of new wells, the application of regulatory and royalty regimes, the volatility of oil and gas prices, the receipt of cooperation from contractual counterparties where their assistance is required and prevailing commodity prices and exchange rates. 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. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary shareholder, regulatory or other third party approvals to the planned transactions, risks associated with the availability of capital in the financial markets, 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 and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. The forward-looking statements contained in this document may not be appropriate for other purposes and are made as of the date hereof and Greenfields does not undertake any 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. Disclaimer Greenfields securities are a highly speculative investment and are not intended as a complete investment program. They are designed only for sophisticated persons who can bear the economic risk of the loss of their investment in Greenfields and who have limited need for liquidity in their investment. There can be no assurance that Greenfields will achieve its investment objective. Target investment goals are not a guarantee of future returns. The attached material is provided for informational purposes only as of the date hereof, is not complete, and may not contain certain material information about Greenfields, including important disclosures and risk factors associated with an investment in Greenfields. This information does not take into account the particular investment objectives or financial circumstances of any specific person who may receive it. More complete disclosures and the terms and conditions relating to an investment in Greenfields will be contained in Greenfields subscription agreement and/or similar offering documents. Before making any investment, prospective investors should thoroughly and carefully review such documents with their financial, legal and tax advisors to determine whether an investment is suitable for them. This document and its contents are confidential. It is being supplied to you solely for your information and may not be reproduced or forwarded to any other person, or published (in whole or in part) for any purpose. Measurement Barrels Oil Equivalent or boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. The Company uses a 6mcf: 1bbl ratio to calculate its share of entitlement sales from the Bahar project. The production threshold of 6,944 boe to earn the full 25 year initial term of the ERDPSA uses a 5.559 mcf: 1bbl conversion ratio per contract to measure total field production toward this obligation. Currency All amounts in this presentation are in US dollars unless otherwise noted. 2

Greenfields Petroleum s Bahar Project offshore Azerbaijan Gum Deniz Oil Field 212 MMBO (329 MMBO rem.) Under re development Shallow Water Guneshli Field 1.3 BBO, 3.6 TCF Azeri Chirag Guneshli Field 6.8 BBO, 8.8 TCF Bahar Gas Field 4.3 TCF (1.3 TCF rem.) Under re development N Bahar 2 Exploration Area 3D Seismic Program Completed Shah Deniz Field 25 TCF Field under development by BP TOTAL discovery 500+ feet of net gas pay 5 to 10 TCF in POD Oil and Gas Fields South Caspian Sea 3

Bahar ERDPSA in Azerbaijan Gum Deniz oil field Bahar gas field Bahar Gum Deniz oil field Bahar gas field Exploration / Rehabilitation / Development Production Sharing Agreement

Greenfields Petroleum Key Metrics 2012 Net Production 1,093 BOE/d 2013 Net Production 1,641 BOE/d 2014 Q1 Net Production 2,338 BOE/d 2014 March Net Production 2,798 BOE/d Debt Convertible Debenture Net Reserves (P1+P2)* $25MM $23 Million 5.3 MMBO 65.1 BCF 16.2 MMBOE Asset Valuation PV10 (P1+P2)* $182 million 5

Greenfields Reserves 12/31/2013 Greenfields Net Interest Proved Producing Proved Developed Proved Undeveloped Total Proved Total Probable Total 2P Oil Mbbls 426 586 2,792 3,378 1,520 4,898 Gas MMcf 4,574 25,196 4,731 29,927 35,178 65,105 Total NGL 40 160 35 195 262 457 Total BOE Mbbls 1,228 4,945 4,221 8,561 7,645 16,206 NPV 10% $M 11,036 62,479 6,018 68,354 113,846 182,200 5/8/2014 6

2012 2013 GNF Net Reserves 30,000 25,000 2013 20,000 2013 15,725 15,000 Gas 7,598 Oil 10,000 2013 6,805 10,851 5,000 4,878 4,988 8,886 8,769 4,073 3,573 5,770 5,355 1P 2012 MMBOE 1P 2013 MMBOE 2P 2012 MMBOE 2P 2013 MMBOE 3P 2012 MMBOE 3P 2013 MMBOE 5/8/2014 7

2012 2013 GNF Net NPV 10% 350,000 NPV 10% (USD$M) 326,418 300,000 250,000 200,000 182,200 202,137 2012 1P $MM 2013 1P $MM 2012 2P $MM 150,000 100,000 117,696 2013 2P $MM 2012 3P $MM 2013 3P $MM 68,354 50,000 48,667 2012 1P $MM 2013 1P $MM 2012 2P $MM 2013 2P $MM 2012 3P $MM 2013 3P $MM 5/8/2014 8

Gum Deniz Oil Field Cumulative production of 212 MMBBL of oil and 593 BCF of gas Average cumulative production per well of 556 MBOE OOIP of 2.16 BBO within 13 vertically stacked pays 774 QP-SV_BU -90 50 N05-SV NQK 0.20 100 1.40 0.60 2,000 meters 0 V VI 2000-2000 Horizon V Horizon VI 2,500 meters VII VIII IX X Horizon VII Horizon VIII Horizon IX Horizon X SP Horizon SP 3,000 meters 1000 3000-3000 New Platform Locations NKP KS Horizon NKP Horizon KS API Gravity 32 to 46 degrees Permeabilities of 45 to 250 md and porosity 13-25% 3,500 meters PK KaS Horizon PK Horizon KAS 9

Bahar Gas Field Cumulative production of 4.3 TCF, 84.0 MMBBL of condensate Average cumulative production per well of 31.2 BCF of gas & 0.6 MMBBL of condensate OGIP of 7.53 TCFG in 12 vertically stacked reservoirs 70 SPBL -10.0 RT POR 0.20 100 0.25-0.10-300 I Horizon I 3,500 meters 4,000 meters 4,500 meters V VI VII VIII IX X SP 4000-4000 Horizon V Horizon VI Horizon VII Horizon VIII Horizon IX Horizon X Horizon SP 5,000 meters NKG NKP 5000-5000 Horizon NKP KS

Preparation for Drilling and Workovers

2010-2012 Bahar Oil and Gas Production - Gross 8000 7000 6000 Start of Contract (October 2010) BOEGPD BOPD 5000 4000 Workovers maintain production 2012 3000 2000 1000 0 12

Bahar ERDPSA 2013 2014 Gross Production (to 3.31.2014) 12000 10000 BOEPD BOPD 8000 6000 4000 2000 Bahar Workovers GD 715 GD 716 GD 714 0 1 Jan 13 1 Feb 13 1 Mar 13 1 Apr 13 1 May 13 1 Jun 13 1 Jul 13 1 Aug 13 1 Sep 13 1 Oct 13 1 Nov 13 1 Dec 13 1 Jan 14 1 Feb 14 1 Mar 14

Bahar ERDSA Contractor Parties 80% Bahar Energy Limited (BEL) 1/3 Greenfields Petroleum Corporation (publically listed company on TSX Venture Exchange) 2/3 Baghlan Group (Azerbaijan Private Company) 20% SOCAR Oil Affiliate (initial carry of $33MM to start repaying in 2014)

Gum Deniz Platform and Development Well Locations Initial 37 Development Wells from Existing Platforms (additional slots to be added) 712 743 744 Net Pays Ranging from 55 352 meters/well 748 716 715 714 745 747 Net Pays Ranging from 67 262 meters/well 713 2 749 717 746 209 751 752 750 759 756 208 763 762 757 753 Net Pays Ranging from 73 220 meters/well 754 760 761 755 PSG 3Rig being mobilized in 2014 15

16 This well has cumulatively produced 100,000 STB oil Re perforated existing SP and IX zones with 4 ½ casing guns Run PLT to determine Hor SP and IX zones contributions. PLT showed that SP is main producing zone Periodic hot diesel treatment increases fluid production

GD 716: SP + X Completion SP is the main oil producing horizon cumulatively produced 45,000 STB oil Second peak happened also due to additional SP perforation, which is supported by characteristic decline typical for SP Main source of water is layer X Frequent hole cleanings with hot diesel performed

18 This well cumulatively produced 1,500 STB oil Re perforated existing VIII zones with 4 ½ casing guns After re perforation, well started to produce 500 bopd oil but then ceased production. Oil rate stabilized around 80 bopd

Development Drilling GD 715 cumulative production 100,000 BO SP completion currently 200+ bopd GD 716 cumulative production 45,000 BO SP + X completion currently 180+ bopd GD 714 VII completion currently 80 bopd GD 774 IX and lower VII completions Gas zones to be S/T

Development Plan Oil and Gas recompletions and workovers more successful and less expensive Expand program Oil drilling new wells mixed results Reduce drilling program until results of 3D seismic Reduce 2014 Capital

2014 Drilling and Operations Workovers and Recompletions 26 31 wells SOCAR rigs refitted with rotational capabilities for Bahar gas workovers 3 existing SOCAR rigs used in Gum Deniz Significant cost reduction in day rates Seismic Acquiring 3D Seismic Program (120 SQ KM) in Gum Deniz Drilling One to Two Rigs (up to 4 well program on Gum Deniz) On Platform 2 or Platform 208a S/T GD 774 well Depends on certification of PSG 3 Depends on 3D and well performance PSG 1 Rig on GD Platform 2 21

Bahar Project Opportunities Some initial drilling well results better than forecast Met TPR1 in January 2014 (7100 BOEPD gross) Extended the PSA term for 25 years Met TPR2 in March 2014 (9,336 BOEPD gross) SOCAR to repay carry & pay 20% WI Focus on Recompletions and Workovers Reduce drilling, 2 to 4 new oil wells in 2014 Materials being transported to Platform 208 for Drilling Gum Deniz 3D Seismic to define stratigraphic opportunities and undrilled exploitation areas Cash flow positive by end of 2014 to fund Phase II drilling 22

Greenfields Petroleum Corporation Primary Focus of Creating Shareholder Value Bay of Baku is a natural harbor on the shore of the Absheron Peninsula 23

Contact Information Greenfields Petroleum Corporation John Harkins CEO Wayne Curzadd CFO Phone: (832) 234 0810 Phone: (832) 234 0835 Facsimile: (832) 234 0823 Facsimile: (832) 234 0823 John.Harkins@greenfieldspetroleum.com Wayne.Curzadd@greenfieldspetroleum.com Official website is located at: www.greenfields petroleum.com TSX.V: GNF & GNF.DB 24

BAHAR Workover Contribution 25

GUM DENIZ Workover & Drilling 26

GUM DENIZ + BAHAR (Total BOEPD) Workover & Drilling Contribution 27