SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* WEST COAST ASSET MANAGEMENT INC (Last) (First) (Middle) 2151 ALESSANDRO DRIVE SUITE 100 (Street) VENTURA CA 93001 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 12/20/2007	3. Issuer Name and Ticker or Trading Symbol GreenHunter Energy, Inc. [ GRH ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Common Stock	545,000	I	By West Coast Opportunity Fund LLC(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants	(2)	03/12/2012	Common Stock	1,410,000	$7.5	I	By West Coast Opportunity Fund LLC(1)
Warrants	(2)	11/30/2010	Common Stock	37,500	$18	I	By West Coast Opportunity Fund LLC(1)
Convertible Preferred Stock	(3)	(4)	Preferred Stock	11,750	$5	I	By West Coast Opportunity Fund LLC(1)

1. Name and Address of Reporting Person* WEST COAST ASSET MANAGEMENT INC (Last) (First) (Middle) 2151 ALESSANDRO DRIVE SUITE 100 (Street) VENTURA CA 93001 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* WEST COAST OPPORTUNITY FUND LLC (Last) (First) (Middle) 2151 ALESSANDRO DRIVE SUITE 100 (Street) VENTURA CA 93001 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Orfalea Paul J (Last) (First) (Middle) 2151 ALESSANDRO DRIVE #100 (Street) VENTURA CA 93001 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Helfert Lance W (Last) (First) (Middle) 2151 ALESSANDRO DRIVE #100 (Street) VENTURA CA 93001 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Lowe R Atticus (Last) (First) (Middle) 2151 ALESSANDRO DRIVE #100 (Street) VENTURA CA 93001 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. These securities are owned by West Coast Opportunity Fund, LLC and indirectly by West Coast Asset Management, Inc. (the managing member of West Coast Opportunity Fund, LLC), Paul J. Orfalea, Lance W. Helfert and R. Atticus Lowe (the members of the Investment Committee of West Coast Asset Management, Inc. who exercise shared voting and investment power over the shares). Each of the filing persons disclaims beneficial ownership of the shares except to the extent of his or its pecuniary interest therein.

2. The Warrents are exercisable any time after they were issued.

3. The Convertible Preferred Stock may be converted at any time.

4. The Convertible Preferred Stock does not expire.

	/s/ Linda Schuman as Attorney-in-fact	02/07/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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