SOURCE: Green Energy Resources

November 09, 2007 06:05 ET

Green Energy Resources Updates Shareholders

NEW YORK, NY--(Marketwire - November 9, 2007) - Green Energy Resources (PINKSHEETS: GRGR) has landed two contracts to supply woodpellets to European power producers. The contracts total 110,000 tons through 2008 and have a total value of $19 million. Export shipments are underway. The company expects 4th qtr revenues in the $2-5 million range.

Market conditions

Market conditions have never been brighter. $100 oil, $5 per gallon gas, declining US dollar value are all good news for GRGR. Renwable energy and alternative fuels especially from wood celluose are rapidly gaining attention, and investment from every quarter. Wood biomass is the most diverse of all renewable energies and is the only one that can be stored. Wood can be used to replace coal, co-fired, gasified, or converted into ethanol and biodiesel.

European Expansion

Green Energy Resources opened an office in London, UK in October at Traflagar Square. The office is expected to increase European visibility and sales.

15c211

A 15c211 was filed with the NASD in April. The filing is intended to raise Green Energy Resources' status from "Unsolicited" to "Solicited." Approval by the NASD has not yet been received. The filing is a qualitative move enabling the company to attract new investors and increase its visibility and transparency to investors.

UTCS

UTCS software has added carbon offset credits to its platform. Marketing and sales are underway with carbon offsets offered to any business, institution or investor. Sales of UTCS have been slow to start, but 22 states have recently enacted Renewable Portfolio Standards (RPS) and sales are expected to be grow substantially through 2009. Carbon offsets are the ability to buy a surplus of positive carbon credits to reduce (or offset) excessive bad carbon emissions.

Inventory

UTCS virtual inventory exceeds 5 million tons of woodchips and wood resources. The original hard inventory from 2004 continues to be drawn down and sold. Green Energy Resources is now better able able to track all new recieved products and has fixed the problem that prevented the London AIM market. Green Energy Resources has targeted 2010 to move on to a bigger stock board.

Patents

The US Office of Trademarks and Patents has granted approval for Green Energy Resources' trademarks and logos. More grants are expected with regard to UTCS, its software and proprietary information. The applications for patents and trademarks were made in 2006.

Public Float

Green Energy Resources remains debt-free, and has not raised any public capital. The issued and outstanding shares remains the same at 55 million shares and the float at approximately 20 million shares.

10% Stock dividend

Green Energy Resources is offering sharesholders a 10% stock dividend. The registration deadline is November 15th, 2007.

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