Hong Kong, June 27, 2007 - Oil and gas company Genesis Energy Holdings Limited (HKEx: 702) is pleased to announce that Genesis International Petroleum & Chemicals Co., Ltd. ("Genesis Petroleum), a subsidiary of the Company, has entered into contracts for the trading business of fuel oil. The major supplier (the "Supplier") is one of the leading fuel oil trading companies incorporated in the People's Republic of China (the "PRC") with limited liability. The Supplier has guaranteed the annual supply of 1.2 million tons of fuel oil. The major purchaser (the "Purchaser") is a sizable electricity power plant operating in the PRC. The Purchaser has committed the purchase of 720,000 ton for a period of 12 months. Under the current market practice, the net gain will be approximately US$2 per ton for the trading of fuel oil.

The Group will continue to actively seek for reliable suppliers and purchasers for its trading operation of fuel oil with an aim to broaden its earning base and strengthen its cash flow. Apart from this, the Group has been looking for further investment opportunities in the oil and gas sector in order to broaden the Group's business and maximise the return of the shareholders.

About Genesis Energy
Genesis Energy Holdings Limited (702) is an energy company with focus on oil and gas exploitation and operations. The company is currently finalizing a number of investments in existing oil and gas fields and greenfield projects in the United States and China. Downstream, the company is engaged in crude oil transportation and pipelined gas businesses.

Issued by :
Genesis Energy Holdings Limited

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