Penrith Panthers can confirm Michael Oldfield has been immediately released from the remainder of his contract to pursue an opportunity at another NRL club.

The 26-year-old outside back joined the Panthers ahead of the 2017 season and scored a try in his one NRL appearance for the club.

He was an ever-reliable performer for the Panthers in the Intrust Super Premiership NSW competition, scoring five tries in 12 games.

The Panthers organisation extends its sincere thanks to Michael for his service and wishes him all the best for the future.