SOURCE: Green Energy Resources

January 22, 2008 10:41 ET

Green Energy Resources (GRGR) Executes First Pellet Shipment of 2008, Readies Woodchips for China and Updates Shareholders

NEW YORK, NY--(Marketwire - January 22, 2008) - Green Energy Resources (PINKSHEETS: GRGR) has executed its first shipment of woodpellets in 2008. The sale is the first of 11 scheduled for the year. Each shipment has a value of about $1.1 million dollars.

Woodchip shipments for China remain on target to begin in the first quarter. The value of the contract is about $28 million per year. Shipping logistics are being finalized to maximize profitability. Woodchips for Europe will also get underway in the first quarter of 2008. Sales are scheduled for 3 separate European countries.

Green Energy Resources is reviewing its strategic planning, examining its goals and is revising and updating its business plan. The company will look to increase the executive management team and its depth of expertise. A full review of the company's equity position and its strategic partners for growth is under way. Green Energy Resources has no debt, has not raised any public money and operates with self-generated cash flows. Year-end financials are anticipated for release before the end of the month and will show sales in excess of 10 times 2006.

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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