GreenHunter Energy, Inc. (NYSE MKT: GRH) (NYSE MKT: GRH.PRC), a diversified water resource, waste management and environmental services company specializing in the unconventional oil and natural gas shale resource plays, announced today financial and operating results for the three and nine months ended September 30, 2012. FINANCIAL RESULTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2012 Revenues for the three months ended September 30, 2012 were $4.9 million, compared to revenues of $230 thousand during the third quarter of 2011. The significant increase in revenues was due to the strategic shift in the Company’s business plan to our water management products and services business activities which were initiated in late 2011. The operating loss for the three months ended September 30, 2012 was $12.9 million, compared to an operating loss of $686 thousand during the third quarter of 2011. Net loss to common shareholders was $15.5 million, ($(0.52) loss per common share basic and diluted) for the three months ended September 30, 2012 compared to a net loss of $1.0 million, ($(0.04) loss per common share basic and diluted), during the third quarter of 2011. During the 2012 third quarter, we recorded an impairment of asset value (non-cash) for the Mesquite Lake Biomass Project of $12.9 million ($(0.44) per common share basic and diluted.) We also recorded a net deemed dividend (non-cash) of $1.6 million ($(0.06) per common share basic and diluted) during the third quarter of 2012 from the conversion of our Series A and B Preferred stock into a combination of shares in Series C Preferred stock and common stock. For the three months ended September 30, 2012, GreenHunter Energy’s adjusted Earnings Before Interest, Income Taxes, Depreciation and Amortization (“Adjusted EBITDA”) was $1.2 million. This represents a 107% increase over the Adjusted EBITDA of $573 thousand for the three months ended June 30, 2012. Adjusted EBITDA for the three months ended September 30, 2011 was a loss of $455 thousand (a reconciliation of adjusted EBITDA to net loss is included in the tables attached). Third quarter financial numbers reflect revenues from the newly acquired Oklahoma facilities, a newly refurbished barge and transloading terminal near New Matamoras, Ohio, a newly completed Class II SWD facility in Ritchie County, West Virginia and additional rolling stock added to the fleet. Improvements in operational efficiencies, equipment utilization and revenue mix resulted in a 597 basis point sequential improvement in gross margins during the third quarter to 49.4% as compared to what was realized in the second quarter of 2012.