SOURCE: Green Star Energies, Inc.

Green Star Energies, Inc.

June 15, 2009 06:00 ET

Green Star Energies Posts First Profitable Quarter Ever

Through the Operating Activities of Green Star During First Quarter, It Has Booked Its First Profitable Quarter Generating Income for Management Services and From the Sale of Part of Its Oil and Gas Interests Totaling a Net Gain of $1,676,140

VANCOUVER, WA--(Marketwire - June 15, 2009) - Green Star Energies, Inc. (PINKSHEETS: GSRE) posts their financial statements via their website through March 31st 2009. The 1st quarter of the year has also been the only profitable quarter in the Company's history, generating a net gain of $1,676,140.

RESULTS OF OPERATIONS FOR THE QUARTER ENDED MARCH 31, 2009 COMPARED TO THE QUARTER ENDED MARCH 31, 2008:

Income Revenues: For the first quarter of 2009, the Company had income revenues of $180,000 and net income from the sale of the Crow's Run asset of $1,500,010, compared to $0 in income revenues for the first quarter of 2008.

Gross Profit: Gross profit is comprised of income revenues less cost of revenues. Gross profit for the first quarter of 2009 totaled $180,000, compared to $0 for the first quarter of 2008.

Operating Costs: Operating costs consist of the Company's administrative expenses, operating expenses including depreciation and amortization. Operating costs for the first quarter of 2009 totaled $3,870, compared to $10,340 for the first quarter of 2008.

Operating Gain (Loss): The Company produced an operating gain for the first quarter of 2009 of $176,130, compared to a loss of $10,340 for the first quarter of 2008.

Net Gain (Loss) Before Income Taxes: Net gain or loss before income taxes represents operating gain or loss plus other (non-operating) gain or loss. For the first quarter of 2009, the company had a net gain of $1,676,140, compared to a net loss of $10,340 for the first quarter of 2008.

Liquidity And Capital Resources: During the first three months of 2009, the Company produced cash equivalents (Aeon Holdings, Inc. common and preferred stock) from operations of $1,678,578.

"First quarter of this year served us several major milestones that have greatly improved our financial statements which we are all very proud of," stated CEO Brandon Toth.

He continued, "We are now faced with our next challenge connecting the Eberle in Texas. We have teamed up with the Stockholder Committee and formulated a plan to finance and finalize our objectives to move us into the production stage."

ABOUT GREEN STAR ENERGIES, INC.

Green Star is an energy company with interests in oil and gas development and production. Green Star follows an aggressive business model, focusing on redevelopment of oil and gas fields with a history of production, and also, exploration of green projects and businesses such as biodiesel and wind power. Please visit our website: http://www.GreenStarEnergies.com.

Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Green Star Energies, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. Please read the full disclaimer here: http://www.GreenStarEnergies.com/disclaimer.

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