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NuEnergy Names Chief Operating Officer, New Director; Big Apple Energy President to Head New Division, Oversee All Operations.

Article Excerpt
Business Editors/Energy Writers

BOHEMIA, N.Y.--(BUSINESS WIRE)--June 12, 2003

NuEnergy Group, Inc. (OTC:NUER) announced today that Victor Ferreira, President of Big Apple Energy Management, Inc. and Founder of Big Apple Energy, LLC (BigApple), will join its Board of Directors and will become Chief Operating Officer of NuEnergy Group, Inc. (NuEnergy) pursuant to NuEnergy's announced acquisition of Big Apple.

Ferreira, a licensed New York State Professional Engineer with an MBA in Finance from NYU's Stern School of Business and a Bachelor of Engineering from Polytechnic University, will have oversight responsibility over all of NuEnergy's operations and day-to-day management control of its newly created Natural Gas Division. The Natural Gas Division will include Big Apple Energy and wholly owned NuEnergy Gas, LLC, which has already received the necessary approvals from governmental agencies to be an authorized natural gas supplier and has qualified supplier status with several local utilities.

Ferreira stated: "I am delighted to join NuEnergy's Board and take on the personal challenge of rapidly integrating Big Apple into the Natural Gas Division to produce an immediate positive cash flow revenue stream and in short order ramp it up to profit center status. Our growth strategy for the new division entails going after a very narrow and focused segment of the natural gas...