GRH Keeps it’s AMEX Listing
GreenHunter Energy’s Plan for Continued Listing Accepted by NYSE Amex
GreenHunter Energy, Inc. (NYSE Amex: GRH), a diversified renewable energy company predominately focused on water resource management in the unconventional oil and gas shale resource plays, announced today that NYSE Amex has accepted GreenHunter’s plan to regain compliance with the exchange’s listing criteria as previously disclosed in a Press Release dated November 23, 2011.
In a letter to the Company dated January 27, 2012, the NYSE Amex indicated that it had determined that GreenHunter’s plan, submitted to the exchange on December 20, 2011, made a reasonable demonstration of the Company’s ability to regain compliance with the exchange’s listing standards. Further, though the Company is not currently in compliance with certain of the exchange’s listing standards, the exchange has granted GreenHunter an extension until March 20, 2012 to regain compliance with Section 1003(a)(iv) of the Exchange’s Company Guide.
In response to the NYSE Amex exchange decision to accept GreenHunter’s continued listing plan, Mr. Gary C. Evans, Chairman and Chief Executive Officer, commented, “Since early 2011, management has been hard at work redirecting GreenHunter Energy by building a portfolio of water assets under our Total Water Management Solutions™ name brand to assist unconventional resource shale operators in managing their water logistics, disposal, recycling, storage and tracking requirements. We are confident that by continuing to execute on our extensive pipeline of new business opportunities, we will be able to accelerate revenue growth, regain financial stability, and build a successful business for the benefit of our shareholders.”
About GreenHunter Water, LLC (a wholly owned subsidiary of GreenHunter Energy, Inc.)
GreenHunter Water, LLC provides Total Water Management Solutions™ in the oilfield. An understanding that there is no single solution to E&P fluids management shapes GreenHunter’s technology-agnostic approach to services. In addition to licensing of and joint ventures with manufacturers of mobile water treatment systems (Frac-CycleTM), GreenHunter Water is expanding capacity of salt water disposal, modular above-ground storage tanks, hauling and fresh water logistics services – including 21st Century tracking technologies (RAMCATTM) that allow Shale producers to optimize the efficiency of their water resource management and planning while complying with emerging regulations.
Additional information about GreenHunter Water may be found at www.GreenHunterWater.com.
Any statements in this press release about future expectations and prospects for GreenHunter Energy and its business and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the substantial capital expenditures required to fund its operations, the ability of the Company to implement its business plan, government regulation and competition. GreenHunter Energy undertakes no obligation to update these forward-looking statements in the future.
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