ODE Odyssey Petroleum Corp.

Odyssey Petroleum Corp. (the "Company") (TSX VENTURE: ODE)(FRANKFURT: YQN) announces further to its Default Status Report of May 28, 2010 that it has not yet been able to finalize its annual audited financial statements for the year ended December 31, 2009 (the "Financial Statements"). Accordingly, the Notice of Default as set out in that News Release remains unchanged.

Based on the auditor's updated projection, the Company expects its Financial Statements to be filed on or about June 21, 2010. Upon completion and filing of the Financial Statements, the Company will file its first quarter interim financials for the period ended March 31, 2010 as soon as possible thereafter, which were due to be filed by May 31, 2010.

As long as the Company remains in default, it will continue to satisfy the provisions of 12-203 by filing a bi-weekly Default Status Report containing the prescribed information.

ODYSSEY PETROLEUM CORP.

Joe DeVries, Chief Executive Officer

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.

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.

Contacts: Odyssey Petroleum Corp. Joe DeVries Chief Executive Officer (604) 718-2800 (604) 718-2808 (FAX)