Woodchip Plan for Gulf Oil Spill Clean Up Under "Technical Review"; Green Energy Resources (GRGR) Receives LOI for $340 Million

Green Energy Resources (Pink Sheets:GRGR) has received an LOI's from a UK company for two power plants. The first contract is scheduled to be signed within 30 days. The first order is an 800,000 ton contract valued at approximately $39 million dollars over 5 years. The buyer plans to commence in the fall. (Sept) The sale is for mesquite woodchips from Texas on an FOB basis.

The second phase of the contract is a 15 year, 350,000 ton per year, $300 million plus dollar contract. Shipments to commence first half of 2012, subject to completion of construction and commissioning of the power plant. Both Parties are in agreement to conclude the final contract by end of July. The contract to be 100% bankable. The deal requires a sustainability report conducted by a 3rd party international scientific agency (SGS) to insure long term availability of supply, and the ability to produce bankable carbon credits for land owners through the Chicago Board of Trade (CBOT) or other major carbon commodity trading index. The sustainability report is expected to begin this week.

Green Energy Resources recently moved operations to San Antonio, Texas and is operational in both its new offices and field location in Corpus Christi, Texas. Green Energy Resources has hired a new Vice President of operations to run its field office. The company plans to create approximately 50 jobs directly or indirectly in the region. Woodchips are already being delivered to Corpus Christi. It's the first ever scalable woodchip operation for export in South Texas.

In other news; woodchips for the BP gulf oil spill is under "technical review" both in Florida, where Green Energy has been activated to deploy, and in Louisiana at the BP command center overseeing operations. An update is expected soon; the plan entails utilizing woodchips inside the booms to absorb and collect oil, skim them off the top and deliver them to power plants to be burned as energy.

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, ship availability, fuel costs and other risks.  

CONTACT:  Green Energy Resources
          Joseph Murray
          212 730 1496
          [e-mail]
          www.greenenergyresources.com

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