SOURCE: GreenGoldRay Energies, Inc.

 

CAGAYAN DE ORO, PHILIPPINES--(Marketwire - November 4, 2008) - GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) today announced the completion of its NASD 15c211 and the Oil & Gas Supplementary Disclosure Statements that are required by OTC PINKS to have the Symbol: GRYE quotes published under "Limited Information." GreenGold is pleased to be accepted into the OTC PINKS market and will continue on its reporting policies on a consistent basis. The Company is now focused on complying to complete its full financial reporting requirements and filing of the SEC Form 10K for the 2008 Audited Annual Financial Statements, hoping to move onto a higher tier in the OTC PINKS Market.

Manolo Tecson, CEO/President of the Company, believes that, "The OTC PINKS market will provide the Company the same opportunities and hopes that the transformation of the GreenGold Ray Energies to be one of the major biofuels, biodiesel oil and alternative energy producing companies will build our shareholders value now and in the future."

GreenGold had built and begun developing its Jatropha Oil Technology Research & Development Center in Cagayan De Oro. This center is a combination of cultivating jatropha seeds, propagating seedlings for the company's Jatropha Nursery and transplanting the sprouted seeds to its expanding Jatropha Plantations. The GreenGold Technology R & D Center will also serve as the diagnostics center for all other research studies in developing new technologies on how to enhance fast growing and high quality biodiesel oil producing jatropha plants.

In some alternative energy development, GreenGold announced last month that it was negotiating with a group for a joint venture of the company's expansion in Africa. The plan for this joint venture of GreenGold Ray Energies is progressing well and now it's in the secondary stage of negotiation.

In Texas, GreenGold is currently negotiating for the acquisition of 55 acres of farm lands. The company will continue to pursue this USA expansion and the African joint venture under the same terms and conditions it had developed in Mindanao Island, Philippines.

A joint venture and working alliance with the African group and expansion to the USA will mean that GreenGold Ray Energies can increase its production of the biodiesel oils about two fold or more, thus the company can respond to the increasing demands for these kinds of products.

ABOUT THE COMPANY:

GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) is a rapidly growing biodiesel, green technology and environmental energy company. The Company had already solidified its position through a highly successful land acquisition program, acquiring large parcels of land ideal for the cultivation of the jatropha plant. Jatropha curcas grows almost anywhere, even on gravelly, sandy and saline soils. Jatropha oil can be processed to produce a high-quality biodiesel that can be used in a standard diesel car, while the residue can also be processed into biomass to power electricity plants (for more information about the jatropha plant: http://en.wikipedia.org/wiki/Jatropha_biodiesel).

Forward-Looking Statements

Forward-looking statements in this release include statements regarding the Company's projections regarding biodiesel, biofuels other alternative energy explorations and extractions in future periods. Penny Stocks are highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.