’Green Gold’ for Green Energy Resources as US DOE forecasts Wood Biomass ’Cellulose Fiber’ to Replace Corn as Key Ethanol Source; EU’s to Invest $54 billion in ’Cheapwood’ by 2015

(CybeRelease, July 17, 2006) - Lake Harmony - Green Energy Resources (Other OTC:GRGR.PK - News) cited the Center for International Forestry Research and the UK’s Department for International Development that $54 billion dollars will be invested in “cheap wood” sources by 2015.The investment reflects strong demand for a variety of renewable energy projects including ,biomass, gasification, co-firing, carbon sequestration and cellulostic fiber. The report in the June issue of “ Environmental Finance Magazine” stated European financial institutions such as Dutch ING, ABN Amro and Rabobank,were investing aggressively in environmentally responsible wood supplies.Green Energy Resources has targeted a 20% market share( about $9 billion dollars) of the expanding European wood biomass market by 2011.The report confirms growing import demand in Europe and the need for strong environmental standards protecting global forests. Green Energy Resources through a mitigated risk management strategy is well positioned to meet its market share target goals.

Wood biomass (cellulose fiber), according to published reports by the US DOE July 12th, is expected to expand rapidly over the next 3-5 years .The US DOE indicated wood biomass (cellulose fiber) is likely to surpass and replace corn as the major supply ingredient for ethanol. Ethanol from wood is cheaper and in greater supply than corn. US.Secretary Bodman and the US Department of Energy have targeted a 30% market share for ethanol as a transportation fuel by 2030.

Woodchips are the new “Green Gold”, as oil neared $80 per barrel and Tom Brokaw Launched his new Global Warming series on the Discovery channel. Green Energy Resources obtains its supplies from wastewood sources, such as landfills, municipalities, and hurricane storm damage. Biomass is the only renewable energy that can be stored with reserves and has application in upwards of 60% of total energy markets. Green Energy Resources was the first company to export wood fiber fuels for renewable energy from the United States, beginning in 2003.

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