Galaxy Energy Names E&P Veteran Cecil Gritz as Chief Operating Officer DENVER, Oct. 27 /PRNewswire-FirstCall/ -- Galaxy Energy Corporation (BULLETIN BOARD: GAXI) has appointed Cecil D. Gritz as its chief operating officer. Gritz will assume the day-to-day management of oil and gas operations for the company. "We couldn't be happier to have hired Cecil Gritz as our COO," said Marc E. Bruner, chairman and chief executive officer of Galaxy Energy. "The insight and expertise that Cecil has accumulated over three decades of managing field operations in all phases of drilling and production on three continents will be key to the development of our prospects, particularly as we initiate drilling in the Powder River basin." Gritz initially worked as an engineer in various capacities for Shell Oil Company, followed by many years in numerous positions with smaller private and public oil & gas companies, and currently acts as Consulting Petroleum Engineer for Harbor Petroleum, LLC in Granbury, Texas. Gritz has extensive drilling experience in Texas, in Utah's Uinta Basin, and throughout the Rocky Mountain region. Gritz is a graduate of the Colorado School of Mines and holds an advanced degree in petroleum engineering. "I am very pleased to serve Galaxy as chief operating officer," Gritz said. "We are looking at some exciting opportunities in the Powder River basin, East Texas, the European coalbeds, and other areas that are equally gas-rich, and I am very excited to be leading the exploration and production work for this growing company." Galaxy Energy Corporation is in the business of oil and gas exploration and production and is currently acquiring and developing coalbed methane (CBM) and other unconventional and conventional natural gas properties in Wyoming, Montana, Texas and Europe. This press release consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and actual results could differ materially from those indicated by such forward-looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events or otherwise. Additional information may be found at the Galaxy Energy Web site, http://www.galaxyenergy.com/ , or by calling Bevo Beaven or Carl Thompson at CTA Public Relations, (303) 665-4200, or Brad Long, Investor Relations/Galaxy Energy at (800) 574-4294. DATASOURCE: Galaxy Energy Corporation CONTACT: Brad Long, Investor Relations of Galaxy Energy, +1-360-945-0395, or +1-800-574-4294; or Bevo Beaven, Vice President, or Carl Thompson, Principal, both of CTA Public Relations, Inc., +1-303-665-4200, for Galaxy Energy Web site: http://www.galaxyenergy.com/

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