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GreenHunter Water Closes on Significant Acquisition of Appalachian Commercial Water Disposal Facilities

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 its wholly owned subsidiary, GreenHunter Water, LLC, has closed on the acquisition of 100% of the ownership interest of three fully operational commercial salt water disposal (SWD) wells and associated facilities located in Washington County, Ohio and Lee County, Kentucky. The total purchase price for this acquisition was approximately $8.8 Million. The consideration paid included a combination of cash, GreenHunter Energy restricted stock, GreenHunter Energy perpetual preferred stock, and a promissory note due to the Seller. The assets acquired also included a fleet of nine (9) water hauling vacuum trucks, and 37 frac tanks (500 barrel capacity each). Total current salt water disposal capacity is 9,000 barrels per day (BBL/D), of which 6,000 BBL/D is from two wells located in Ohio and approximately 3,000 BBL/D is from one well located in Kentucky. Due to the strong demand for SWD services in the Marcellus and the evolving Utica Shale plays, utilization rates at the Ohio facility have been at or near 100% capacity for the last several months. Nearly all of the daily capacity in Ohio has been reserved under multiple disposal capacity contracts with major oil & gas companies and large independents active in the region – these capacity contracts also typically contain rights for Hunter Disposal to provide fluid transportation trucking on a first-call basis. Management is presently exploring various options to increase usage at the Kentucky facility by leveraging a combination of truck hauling and barge logistics. Annual revenues from this acquisition are currently estimated to be approximately $15 million including disposal, hauling and water tank rental. In addition to the current employees, GreenHunter anticipates the creation of up to 40 new service industry jobs. These jobs will be created through a growth plan which includes the expansion of its existing truck fleet, expansion of its Total Water Management Solutions™ services portfolio within the current customer base, and the expansion of the Company’s MAG Tank™, Frac-Cycle™ and RAMCAT™ product lines.

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All content on StockGuru.com is original content – with the exception of client news releases. All content is (C) Copyright 2002 to 2012 StockGuru. No content may be used in whole or in part without the express written consent of our Publisher. We encourage web sites interested in our content to offer a reciprical exchange agreement in exchange for use of some of our content. We do not offer advance approval, but contact our Publisher if you have an interest in repropagating our content. Contact as at: [email protected] or (469) 252-3030. Mailing address: 1601 Berwick Drive; McKinney, Texas 75070. All content on StockGuru.com is original content – with the exception of client news releases. All content is (C) Copyright 2002 to 2012 StockGuru. No content may be used in whole or in part without the express written consent of our Publisher. We encourage web sites interested in our content to offer a reciprical exchange agreement in exchange for use of some of our content. We do not offer advance approval, but contact our Publisher if you have an interest in repropagating our content. Contact as at: [email protected] or (469) 252-3030. Mailing address: 1601 Berwick Drive; McKinney, Texas 75070. GRH Disclosure: StockGuru entered into an investor relations consulting and market awareness contract with GreenHunter Energy. We hold not shares and will not be receiving any shares. To avoid all potential conflicts of interest, we never sell shares into the open market during an active market awareness or investor relations program. This means that as we release new information about a particular client company either on our site or otherwise authored by us, you can be confident we are not selling shares at the same time. StockGuru is not a registered investment adviser or a broker/dealer. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. The Company will compensate us three thousand dollars monthly in cash and four thousand two hundred dollars in 144 restricted shares based on the volume weighted average share price for the last five days of each month. Initially, we have been funded the first cash payment and are due the first five thousand shares of this contract as we begin our coverage on July 19, 2011. StockGuru – 1601 Berwick Drive – McKinney, Texas 75070 – (469) 252-3031.