RE: Brimm Energy Corp. Announces Acquisition; Name Changed to Odyssey Petroleum Corp.

VANCOUVER, BC--(BUSINESS WIRE)--March 3, 1997-- Odyssey BRIMM ENERGY CORP. (NASDAQ: BRIMF)(the "Company") announced that it has taken its first major step in implementing its previously announced plan to diversify its business activities in energy related industries by consummating the Share Exchange Agreement dated December 16, 1996, as amended (the "SEA") between the Company and Odyssey International Petroleum Inc., pursuant to which the Company has now acquired all of the issued and outstanding capital stock of Odyssey Turkmenistan Inc. ("OTI"). The consummation of the SEA and the Company's acquisition of OTI was closed February 28, 1997, pursuant to the overwhelming approval of the Company's shareholders received on January 15, 1997.

Although the Company, through Brimm Energy, Inc. and Wyoming Ethanol, LLC, each of which is a wholly-owned subsidiary, will continue to be a producer and distributor of ethanol (primarily in the Western United States) it will now commence oil and gas exploration and development activities on an international basis.

The Company's ethanol production and distribution facility, in Wyoming, reopened on December 1, 1996, and is now operating at record production levels, averaging 10,000 gallons of ethanol per day. The Company's operations in this area will continue to be conducted under the direction of Mr. Daniel G. Brimm, the Company's largest shareholder, in his expanded positions as Vice-Chairman of the Board of Directors of the Company and as Chief Operating Officer of each of Brimm Energy Inc. and Wyoming Ethanol LLC.

Regarding the Company's oil and gas exploration activities, the Company, through OTI, has obtained a 10 percent working interest in a Joint Venture to explore and develop an area designated as "Block II" in Turkmenistan (the "Turkmenistan Project"). The Turkmenistan Project includes two producing oil and gas fields known as Lam and Zhdanov. The Lam field is located in the Caspian Sea approximately 40 km off the coast of Turkmenistan in water depths between 20 and 30 meters. The Lam field was discovered in 1972 and first commenced production in 1978. The Zhdanov field is located in the Caspian Sea to the north-east of the Lam field some 20 km off shore in water depths of 10 to 20 meters. The Zhdanov field was discovered in 1968 and production from the field commenced in 1972. Exploration, development and production activities on the Turkmenistan Project are conducted through a "Joint Venture" the participants of which, directly and indirectly, consist of, in addition to OTI, Production Association Chelekenmorneftegas, a Turkmenistan government owned oil company, Larmag Energy NV (Netherlands) and Dragon Oil PLC.

The term of the Joint Venture is 25 years, of which 21 years remain, subject to a further 10 year extension by agreement of the management board of the Joint Venture operating the Turkmenistan Project. Although the Joint Venture is currently producing approximately 5400 bopd from Block II, it is the present intention to continue to explore and develop Block II. The reserves for Block II have been independently estimated at 346 million barrels of proved and probable recoverable reserves. The expressed goal of the Joint Venture is to attain production levels of approximately 80,000 bopd within the next 36 to 48 months.

The Company's endeavors in the oil and gas industry will be under the direction of Peter Holstein, a director of the Company, who has substantial experience in international oil and gas projects. Mr. Holstein will continue to be a member of the Board of Directors and will serve as the Company's Chairman of the Board. As previously announced, the Company intends to add additional management (officers as well as directors) and technical personnel to assist Mr. Holstein. In this regard, David R. Robinson has been appointed President and Chief Executive Officer of the Company.

It is the intention of the Company to further diversify its operations and acquire working interests in a number of international petroleum projects. In furtherance of its goals the Company is currently reviewing projects in the former Soviet Union, South America, the Far East and Africa. To facilitate its ability to acquire and/or participate in what it believes to be promising petroleum projects, the Company will change its name to "Odyssey Petroleum Corporation". Having received shareholder approval for such name change, the Company intends to effectuate the change with all applicable regulatory authorities as soon as possible.

CONTACT: Odyssey Petroleum Corporation

David W. Harrison, 403/ 205-4700

403/ 205-4701 (FAX)