The Board has noted certain articles in newspapers published on 15 August 2007 and 16 August 2007 indicating that the Company’s Oil Investment Project in Shaanxi Province, the PRC is estimated to have petroleum initial in place not less than 70 million tones of crude oil as disclosed in the Company’s announcement dated 14 August 2007. The Articles, based on the above information, indicated the geological reserve of the Oil Investment Project is 50% of that of Jidong Nanpu Oilfield which disclosed in the Petrochina Announcement. The Board wishes to clarify certain information as disclosed in the Articles that could be misleading to the investors.

Hong Kong, August 20, 2007 - This announcement is made by Genesis Energy Holdings Limited (the “Company”) pursuant to Rule 13.09(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”).

The board of directors (the “Board”) of the Company would like to respond to certain articles (“Articles”) published in Ming Pao Daily News and Apple Daily on 15 August 2007 and 16 August 2007 respectively.

The Articles have reported that the Company’s Oil Investment Project in Shaanxi Province, the PRC is estimated to have petroleum initial in place not less than 70 million tones of crude oil as disclosed in the Company’s announcement dated 14 August 2007. The Articles further based on the above information, indicated the geological reserve of the Company’s Oil Investment Project is approximately 50% of that of Jidong Nanpu Oilfield which announced by Petrochina Company Limited on 3 May 2007 (“Petrochina Announcement”). However, as disclosed in Petrochina Announcement, the geological oil reserve of Jidong Nanpu Oilfield is reaching 1,020 million tones. Accordingly, the petroleum initial in place of the Company’s Oil Investment Project would be approximately less than 7% of that of Jidong Nanpu Oilfield disclosed in Petrochina Announcement rather than 50% as stated in the Articles. The comparison done by the Articles appears to be made on an incorrect basis or misunderstanding of information and the Board is of the view that the Articles could have misled investors and therefore clarification is considered necessary.

About Genesis Energy
Genesis Energy Holdings Limited (702) is an energy company with focus on oil and gas exploitation and operations. The company invests in and operates oil and gas fields in the United States and is currently in negotiations with regard to certain investments in oil and gas projects in the PRC. Downstream, the company is engaged in crude oil transportation and pipelined gas businesses.

Issued by :
Genesis Energy Holdings Limited

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