SOURCE: Green Energy Resources

December 28, 2007 16:00 ET

Green Energy Resources Updates and Recaps 2007

NEW YORK, NY--(Marketwire - December 28, 2007) - Green Energy Resources (PINKSHEETS: GRGR) 2007 year end update. Oil, rail and ship transportation costs doubled and tripled in some instances, hindering shipments and canceling others where buyers could not absorb the increased costs. High oil prices were also a positive factor in receiving orders for wood pellets to Europe and woodchips for China.


Green Energy Resources is exporting wood pellets. Shipments are currently moving by rail to the port in Savannah, Georgia. Export shipments of 6000 tons are scheduled monthly throughout 2008. Other pellet orders are pending for 2008 if more supplies can be contracted.


Green Energy Resources has received an order for woodchips to China beginning in the 1st qtr of 2008. The shipments are scheduled to be weekly in manageable size shipments. The order should produce a steady revenue stream for the company throughout 2008. Two orders announced earlier this year and one from 2006 have not executed as a direct result of the increased oil and freight costs. They include orders for C&D to Europe and woodchips for Turkey. A ship contract was also put on hold.


The company has a physical inventory of wood pellets. Green Energy Resources has contracted 72,000 metric tons. All new woodchip inventory is virtual inventory and is maintained on UTCS software.


Green Energy Resources, in conjunction with a well-established market maker, filed a 15c211 in March of this year. No determination was received by the NASD since May. It is unclear if there were remaining questions regarding "solicited" status or simply due to backlog in their response. A renewed effort will re-commence early next year.


In November Green Energy Resources issued a 10% stock dividend to shareholders. Company CEO Joseph Murray returned his 3.5 million share dividend back to the transfer agent for cancellation. The company opted for a dividend over a stock buy back due to the national credit and finance crunches.


Financials have been submitted to the accountants and will be posted as soon as they are ready. The company remains debt free and operated on its own self-generated revenues in 2007. There are approximately 22 million free trading shares post dividend and approximately 59 million shares issued and outstanding. Green Energy Resources had planned to provide quarterly dividends in 2007 but failed to meet this goal. The company will again try to provide quarterlies in 2008 and offer audited financials.

Press Releases

Green Energy Resources plans to issue press releases only as warranted in 2008 and not monthly as has been the past practice.

Carbon Offsets

Green Energy Resources is well positioned and can offer carbon offsets to sell. The UTCS software has not been fully updated to reflect this capacity.

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.

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