SOURCE: Green Energy Resources

March 05, 2008 11:04 ET

Green Energy Resources (GRGR) Inks $17 Million European Woodchip Order; Establishes New International Suppliers in Russia and Africa; Hires PR Firm

NEW YORK, NY--(Marketwire - March 5, 2008) - Green Energy Resources (PINKSHEETS: GRGR) has recieved a $17 million order to supply woodchips to Europe. The order of 200,000 metric tons represents about 5 shipments valued at $3.5 million each. Shipment is expected to commence this spring. The order is a step into Green Energy Resources' targeted goal to capture 20% of the European woodchip import market by 2011 as announced in 2006. The company will announce another contract of supply shortly.

Profits are expected to increase by an additional 10-20%. New supply sourcing of woodchips to Europe from Africa and Russia will increase competitiveness within the European market. The shorter distances radically reduce transportation costs and time frames to reach buyers. The new supply enhances the total number of orders that can be shipped within the contractural time period, increasing revenues for 2008. Green Energy Resources recorded sales of 12 times growth in 2007.

Shipping - Green Energy Resources is working with a European ship owner to supply European buyers. The ship owner is a strategic partner with whom Green Energy Resources has a well established relationship. The immediate access to new ships will have a major impact on GRGR's ability to perform and deliver its products. The strategic partnership will be instrumental in reducing spot shipment and unexpected price increases due to fuel oil volatility. Oil prices remain over $100 per barrel as was predicted by Green Energy Resources in 2004 when oil was in the $30s. The United States failed to recognize this future fact and was yesterday begging oil producers to lower prices.

Shareholder News - Green Energy Resources has engaged a San Diego, California public relations firm to increase Green Energy Resources visibility and attract new investors. The PR company has over 30 years' experience. Current share values do not reflect the company's status or its accurate position in the market place in CEO Joseph Murray's view. Green Energy Resources will be very, very aggressive in combination with other internal steps to bring focus and attention to the company.

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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