The Company Completes Its Financial Audits Required to Become a Fully Reporting Company With the SEC

IRVINE, CA--(MARKET WIRE)--Nov 15, 2006 -- BlueFire Ethanol Fuels, Inc. (Other OTC:BFRE.PK - News) CEO and President Arnold R. Klann announced today the completion of the audits of its financial statements for its year ending August 31, 2006, and plans to proceed with a Form 10-SB filing to become a fully reporting company with the Securities and Exchange Commission. The filing of the Form 10, with the audits, will meet the requirements to list the Company's common stock on the Over the Counter Bulletin Board ("OTCBB") quotation system. The financial report has been prepared according to Generally Accepted Accounting Principals "GAAP" definitions of "assets or liabilities" and supersedes all previously released unaudited financial statements of the Company.

Commenting on this announcement, Arnold Klann, stated, "We are pleased to have completed this important milestone in our plan to upgrade the Company's current listing status, as we continue to proceed with the execution of our business plan to deploy the first commercialization of cellulose to ethanol technology in the United States. Completing the financial audits is a significant step towards application to list on the OTCBB. Our next goal is to work rapidly towards meeting eligibility requirements for joining a national trading market as part of our efforts to grow the Company and enhance shareholders' value.''