SOURCE: Green Energy Resources

August 20, 2007 07:01 ET

Green Energy Resources (GRGR) to Issue Dividend in 2007

NEW YORK, NY--(Marketwire - August 20, 2007) - Green Energy Resources (PINKSHEETS: GRGR) announces a stock dividend. The dividend will be based on shareholders holding stock on September 31, 2007. The amount of the dividend has yet to be finalized and will be determined at the end of the 3rd qtr of 2007. A record date is not official until a meeting of the company's Board of Directors in September. Green Energy Resources issued a 5% stock dividend in 2006. 2nd qtr Financials should be released by the deadline date at the end of August.

Public Float

Green Energy Resources remains debt free, and has not raised any public capital. The issued and outstanding shares remains the same at 50 million shares reduced from 56 million shares in 2006. The float is approximately 17.5 million shares.

Audits

An auditable inventory is now available to Green Energy Resources for the first time ever using its own UTCS software tracking system (info at www.utcs.com). To date, the inability to accurately count storm damage wood prevented GRGR from providing accurate audits and proceeding with a planned move to the London Aim Market this past year. Green Energy Resources resolved the problem through development of its own software program and plans to move to an established board as soon as possible. Two years of audits are required prior to entering a major Trade board.

About Green Energy

Green Energy Resources is a wood biomass supplier sourcing from landfills, municipalities, and hurricane storm damage to name a few. Wood biomass has multiple applications, including co-firing with coal, gasification, ethanol and biodiesel fuels. Biomass is the only renewable energy that can be stored with reserves and has application in upwards of 60% of total energy markets. It is the 4th largest energy source behind oil, gas and coal. Green Energy Resources was the first company to export woodfiber fuels for renewable energy from the United States, beginning in 2003. Green Energy Resources has targeted 20% of European biomass imports by 2011. The company also offers the sale of Carbon offset credits.

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 company's 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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