SOURCE: BlueFire Ethanol

November 15, 2006 09:00 ET

BlueFire Prepares for Listing on the OTC Bulletin Board

The Company Completes Its Financial Audits Required to Become a Fully Reporting Company With the SEC

IRVINE, CA -- (MARKET WIRE) -- November 15, 2006 -- BlueFire Ethanol Fuels, Inc. (PINKSHEETS: BFRE) CEO and President Arnold R. Klann announced today the completion of the audits of its financial statements for its year ending August 31, 2006, and plans to proceed with a Form 10-SB filing to become a fully reporting company with the Securities and Exchange Commission. The filing of the Form 10, with the audits, will meet the requirements to list the Company's common stock on the Over the Counter Bulletin Board ("OTCBB") quotation system. The financial report has been prepared according to Generally Accepted Accounting Principals "GAAP" definitions of "assets or liabilities" and supersedes all previously released unaudited financial statements of the Company.

Commenting on this announcement, Arnold Klann, stated, "We are pleased to have completed this important milestone in our plan to upgrade the Company's current listing status, as we continue to proceed with the execution of our business plan to deploy the first commercialization of cellulose to ethanol technology in the United States. Completing the financial audits is a significant step towards application to list on the OTCBB. Our next goal is to work rapidly towards meeting eligibility requirements for joining a national trading market as part of our efforts to grow the Company and enhance shareholders' value.''

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About us:

BlueFire Ethanol Fuels, Inc. is established to deploy the commercially ready, patented, and proven Arkenol Technology Process for the profitable conversion of cellulosic ("Green Waste") waste materials to ethanol, a viable alternative to gasoline. BlueFire's use of the Arkenol Process Technology positions it as the only cellulose-to-ethanol company worldwide with demonstrated production of ethanol from urban trash (post-sorted MSW), rice and wheat straws, wood waste and other agricultural residues. Our goal is to develop and operate high-value carbohydrate-based transportation fuel production facilities worldwide. These "biorefineries" will convert widely available, inexpensive, organic materials such as agricultural residues, high-content biomass crops, wood residues, and cellulose from MSW into ethanol. BlueFire intends to build a multinational company that leads the world in producing biobased transportation fuels. Its business will encompass development activities leading to the construction and long-term operation of production facilities while maintaining technological advantage and ownership of the process technology and all its improvements. Ethanol will be produced from biorefinery facilities opportunistically constructed on or near landfills, waste collection and waste separation sites. Each facility will deploy the proprietary technology, which uses all cellulosic waste materials traditionally disposed of in landfills as feedstock. www.BlueFireEthanol.com

FORWARD LOOKING STATEMENTS

Statements about BlueFire Ethanol, Inc.'s expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. BlueFire's actual results could differ materially from expected results. BlueFire undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; BlueFire will appropriately inform the public.

Contact Information

  • Investment Banker:
    Tom Rubin
    President/CEO
    Westcap Securities, Inc.
    18201 Von Karman Ave. Suite 550
    Irvine, CA 92612
    800-805-3334
    www.WestcapSecurities.com

    Investor Relations Contact:
    Gerald Kieft or Ryan Audin
    Wall Street Resources, Inc.
    2646 SW Mapp Road, Suite 303
    Palm City, Florida 34990
    772-219-7525
    http://www.wallstreetresources.net