Document:

EXHIBIT 10.4

                           LETTER OF INTENT WITH FAGEN

Date:             November 4, 2004

Parties:          Fagen, Inc., a Minnesota  Corporation,  of Granite Falls, MN
                  ("Fagen") and Green Plains Renewable Energy, Inc. of
                  Las Vegas, Nevada ("Owner")

Owner is an entity organized to facilitate the development and building of a
locally-owned 50 MGY gas-fired fuel ethanol plant in the vicinity of Shenandoah,
Iowa (the "Facility" or "Project").

Fagen is an engineering and construction firm capable of providing development
assistance, as well as designing and constructing the Facility being considered
by Owner.

Owner and Fagen agree to use best efforts in jointly developing this Project
under the following terms:

                  1. Owner agrees that Fagen will Design/Build the Facility if
         determined by Owner to be feasible and if adequate financing is
         obtained. Should Owner choose to develop or pursue a relationship with
         a company other than Fagen to provide the preliminary engineering or
         design-build services for the project, then Owner shall reimburse Fagen
         for all expenses Fagen has incurred in connection with the Project
         based upon Fagen's standard rate schedule plus all third party costs
         incurred from the date of this Letter of Intent. Such expenses include,
         but are not limited to, labor rates and reimbursable expenses such as
         legal charges for document review and preparation, travel expenses,
         reproduction costs, long distance phone cost, and postage. In the event
         Fagen's services are terminated by Owner, title to the technical data,
         which may include preliminary engineering drawings and layouts and
         proprietary process related information, shall remain with Fagen;
         however, Owner shall have the limited license to use the above
         described technical data, excluding proprietary process related
         information, for construction, operation, repair and maintenance of the
         Project.

                  If Fagen intentionally or by gross negligence fails or refuses
         to comply with its commitments contained in this Letter of Intent,
         Fagen shall absorb all of its own expenses, and Owner shall have the
         right to terminate the Letter of Intent immediately upon written notice
         to Fagen, and Owner shall be released from its obligations to pay or
         reimburse Fagen as described above.

                  2. Fagen will provide Owner with assistance in evaluating,
         from both a technical and business perspective:

                           o Owner organizational options;
                           o The appropriate location of the proposed Facility;
                             and
                           o Business plan development.

         Fagen assumes no risk or liability of representation or advice to Owner
         by assisting in evaluating the above. All decisions made regarding
         feasibility, financing, and business risks are the Owner's
         responsibility and liability.

                  3. Fagen agrees to Design/Build the Facility, utilizing ICM,
         Inc. technology in the plant process, for a lump sum price of

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         $56,619,000.00. This lump sum price shall remain firm by Fagen to Owner
         until December 31, 2005, and may be subject to revision by Fagen after
         such date.

                  4. Fagen will assist Owner in locating appropriate management
         for the Facility.

                  5. Fagen will assist Owner in presenting information to
         potential investors, potential lenders, and various entities or
         agencies that may provide project development assistance.

                  6. During the term of this Letter of Intent the Owner agrees
         that Fagen will be the exclusive Developer and Design-Builder for the
         Owner in connection with matters covered by this Letter of Intent, and
         Owner shall not disclose any information related to this Letter of
         Intent to a competitor or prospective competitor of Fagen.

                  7. This Letter of Intent shall terminate on December 31, 2005
         unless the basic size and design of the Facility have been determined
         and mutually agreed upon, and a specific site or sites have been
         determined and mutually agreed upon, and at least 10% of the necessary
         equity has been raised. Furthermore, this Letter of Intent shall
         terminate on December 31, 2006 unless financing for the Facility has
         been secured. Either of the aforementioned dates may be extended upon
         mutual written agreement of the Parties.

                  8. Fagen and Owner agree to negotiate in good faith and enter
         into a definitive lump sum design-build agreement, including Exhibits
         thereto, acceptable to the Parties. Upon execution of such agreement,
         this Letter of Intent becomes null and void.

                  9. The Parties agree that this Letter of Intent may be
         modified only by written agreement by the Parties.

                  10. This Letter of Intent may be executed in one or more
         counterparts, each of which when so executed and delivered shall be
         deemed an original, but all of which taken together constitute one and
         the same instrument. Signatures which have been affixed and transmitted
         by facsimile shall be binding to the same extent as an original
         signature, although the Parties contemplate that a fully executed
         counterpart with original signatures will be delivered to each Party.

Green Plains Renewable Energy, Inc.               Fagen, Inc.

By: /s/ Barry A. Ellsworth                        By:  /s/ Wayne Mitchell
---------------------------------                 ---------------------------
Its:  President                                   Its: Vice President
Date: November 04, 2004                           Date: November 04, 2004

                                       2Exhibit 10.5

                           U.S. ENERGY SERVICES, INC.

                                 October 5, 2004

Barry Ellsworth
Green Plains Renewable Energy, Inc.
9635 Irvine Bay Court
Las Vegas, NV  89147

Dear Mr. Ellsworth:

The purpose of this letter is to set forth the understanding and agreement
between U.S. Energy Services, Inc. ("U.S. Energy") and Green Plains Renewable
Energy, Inc. (GREEN PLAINS) (hereinafter "the Parties").

WHEREAS: GREEN PLAINS is attempting to locate a site that will be suitable, at
which, GREEN PLAINS can construct a 45 million dry-mill ethanol plant; and

WHEREAS: U.S. Energy has expertise in negotiating and/or providing for the
competitive pricing of natural gas, electricity, and/or coal, and any associated
energy facilities and services for such plants; and

WHEREAS: GREEN PLAINS is interested in using the services and expertise of U.S.
Energy in helping GREEN PLAINS to negotiate the cost of these services and
facilities for the benefit of Green Plains as part of the site selection process
and the ongoing energy requirements of the Green Plain's Plant;

NOW THEREFORE, and in consideration of the above, the value and sufficiency of
which is hereby acknowledged, the Parties agree as follows:

PROJECT DESCRIPTION: GREEN PLAINS is developing a 45 million gallon per year
ethanol plant ("Plant") to be located in southwest Iowa. The Plant will have
approximately a four MW peak usage in electricity and will consume approximately
4,500 MMBtu of natural gas per day.

U.S. ENERGY RESPONSIBILITIES: U.S. Energy will provide consulting and energy
management services for supplies of natural gas, coal, and electricity for the
Plant for the purpose of incorporating the requirements for service and pricing
established by GREEN PLAINS for the reasonable operation of the Plant described
herein. These services will be provided prior to and during the construction of
the Plant ("Construction Period"), and after the Construction Period when the
Plant has been placed in service ("Completion Date") subject to the terms of
this Agreement. The Completion Date shall be determined when the Plant begins
producing ethanol. These services will include but not be limited to the
following:

A. Energy Infrastructure Advisory Services Prior to and During the Construction
Period

1.       Provide an economic comparison of receiving natural gas distribution
         service. U.S. Energy will provide preliminary engineering cost
         estimates, route drawings, and project timeline related to constructing
         pipeline facilities.

         In the event that a direct connect pipeline option is selected, U.S.
         Energy will submit a tap request to the pipeline. In addition, U.S.
         Energy will also on behalf of and under the direction of GREEN PLAINS
         negotiate an option for GREEN PLAINS to minimize interconnect costs
         through the purchase of firm transportation to the Plant.

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2.       Determine whether firm, interruptible, or a blend of transportation
         entitlement will provide the lowest burnertip cost. Factors that will
         be considered include pipeline credits for the new interconnect, cost
         of an alternate fuel system, and availability of specific receipt point
         capacity.

3.       Provide advisory services to GREEN PLAINS regarding electric pricing
         and service agreements.

         a.       Analyze the electric service proposals along with primary,
                  secondary and generation options and recommend an electric
                  sourcing strategy and plan. The plan may include a combination
                  of electric supplier agreement and/or installation of on-site
                  generation.

         b.       Negotiate final electric service agreements that meet the
                  pricing and reliability requirements of GREEN PLAINS,
                  including options for third party access to electric metering.

         c.       Prepare and implement a regulatory strategy, if required and
                  if an alternative power supplier is selected. Any attorney
                  fees required for the specific purpose of obtaining regulatory
                  approval for an alternative power supplier, if any, will be
                  over and above U.S. Energy's monthly fee herein, and must be
                  pre-approved by GREEN PLAINS.

4.       Evaluate the economics and feasibility of using coal as a fuel source
         rather than natural gas. Negotiate the acquisition, transportation,
         storage and other logistics necessary in managing the cost of coal if
         used as a fuel source.

5.       Evaluate the proposed electric distribution infrastructure (substation)
         for reliability, future growth potential and determination of the
         division of ownership of facilities between the utility and the Plant.

6.       Investigate economic development rates, utility grants, equipment
         rebates and other utility programs that may be available.

7.       Provide a monthly report, at the time of monthly billing to GREEN
         PLAINS, outlining the tasks completed and the tasks to be completed in
         the next month(s)and the current status of tasks and activities
         completed on behalf of GREEN PLAINS to accomplish the goals of GREEN
         PLAINS.

B. On-Going Energy Management Services Following the Completion Period

U.S. Energy will provide the following services at GREEN PLAINS's request:

1.       Provide natural gas supply information to minimize the cost of natural
         gas purchased. This will include acquiring multiple supply quotes and
         reporting to GREEN PLAINS the various supply index and fixed prices.
         U.S. Energy will not take title to GREEN PLAINS gas supplies, but will
         communicate supply prices and potential buying strategies.

2.       Negotiate with pipelines, utilities, other shippers, and suppliers to
         provide transportation, balancing, and supply agreements that meet
         GREEN PLAINS's performance criteria at the lowest possible cost.

3.       Develop and implement a price risk management plan that is consistent
         with GREEN PLAINS's pricing objectives and risk profile.

4.       Provide daily nominations to the suppliers, pipeline, and other
         applicable shippers for natural gas deliveries to the Plant. This will
         include daily electronic confirmations to GREEN PLAINS of all
         nominations and actual daily usage. U.S. Energy will utilize customer
         or utility supplied telemetering to obtain actual usage data.

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<PAGE>

5.       Provide a consolidated monthly invoice to GREEN PLAINS that reflects
         all applicable natural gas and electric energy costs. U.S. Energy will
         be responsible for reviewing, reconciling and paying all shipper,
         supplier and utility invoices.

6.       Provide a monthly usage report of electric energy consumption and
         costs. Also, where applicable and available from the utility, obtain
         monthly interval electric load data and provide monthly load profile
         graphs.

7.       On going review and renegotiation of electric service costs, as
         required. This may include:

         a.       Completing and evaluating annual proposals to identify the
                  most reliable and economic third party electric energy supply.

         b.       Identifying new service tariffs or opportunities to
                  renegotiate the service agreement to provide lower costs.

         c.       Identifying on-site generation opportunities as market
                  conditions change.

         d.       Provide a monthly projection of energy (natural gas or coal
                  and electricity) and annual summaries.

8.       Evaluate the economics and feasibility of using coal as a fuel source
         rather than natural gas. Negotiate the acquisition, transportation,
         storage and other logistics necessary in managing the cost of coal if
         used as a fuel source.

9.       Provide natural gas or coal and electric energy operating budgets for
         the Plant.

10.      Perform initial sales tax exemption audits for energy consumption costs
         as required and allowed by Iowa tax laws.

         In performing the activities described above and throughout this
         document, U.S. Energy agrees that it will at no time mark up or mark
         down, for its own benefit, the actual commodity it is negotiating
         and/or purchasing for and on behalf of GREEN PLAINS, whether it be
         natural gas, coal, electricity, or any futures or options it may
         purchase concerning those same commodities, for and on behalf of GREEN
         PLAINS, in its hedging strategies or risk management programs for the
         same. U.S. Energy further agrees that GREEN PLAINS shall be permitted
         to inspect the books and trades n said commodities done by U.S. Energy
         for and on behalf of GREEN PLAINS at any and all times.

TERM: The initial term of this Agreement shall commence on October 1, 2004 and
continue until six (6) months after the Plant's completion date, unless the site
at Shenandoah, Iowa, which is the primary location that U.S. Energy is being
engaged to work on behalf of GREEN PLAINS, is found to be deficient in anyway in
the feasibility study that is to be done by Mr. Marty Ruikka and Pro Exporters
on behalf of the lending banks for the Project. In the event the Shenandoah sit
is found to be unsuitable, this Agreement shall be suspended until such time as
an alternative site is identified and U.S. Energy is directed to provide the
services specified in this Agreement for the substitute site. Once U.S. Energy
begins activities related to the new site all terms and conditions of this
Agreement shall be effective and enforceable. The Agreement shall be
month-to-month from that time on. This Agreement may be terminated by either
party effective after the initial term upon sixty (60) days prior written
notice. GREEN PLAINS shall remain responsible for payment and performance
associated with any and all transportation, supply, and storage transactions
entered into by U.S. Energy and authorized by GREEN PLAINS, prior to
termination.

FEES: U.S. Energy's fee for services described above during the term of this
Agreement shall be $2,900 per month, plus pre-approved travel expenses. GREEN
PLAINS may defer payment on the invoiced amounts until documents for closing and
funding the loans necessary for the plant have been secured. Deferred invoice

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<PAGE>

amounts shall not bear interest. Plant financing shall be deemed to be secured
at the time GREEN PLAINS and its project lender(s) actually execute and deliver
all required documents for closing the loans necessary to finance the complete
construction of the GREEN PLAINS plant. In the event that plant financing is not
secured, this Agreement shall become null and void and both parties will be
relieved of professional and/or financial obligations due the other party.
Payment of pre-approved travel expenses shall not be deferred. If GREEN PLAINS
experiences significant delays in its project timeline and it is necessary for
U.S. Energy to delay work on GREEN PLAINS's energy management activities, upon
mutual agreement by both parties, U.S. Energy will suspend its activities and
suspend invoicing GREEN PLAINS until U.S. Energy's activities resume.

BILLING AND PAYMENT: On the first of the month, U.S. Energy shall invoice GREEN
PLAINS for the work completed in the prior month and GREEN PLAINS shall pay U.S.
Energy within ten (10) days of receipt of invoice. U.S. Energy will also provide
to GREEN PLAINS a consolidated invoice of the Plant's energy costs.

TAXES: GREEN PLAINS will be responsible for payment of all taxes including, but
not limited to, all sales, use, excise, BTU, heating value and other taxes
associated with the purchase and/or transport of natural gas or coal and
electricity and the provision of services hereunder.

CONFIDENTIALITY: U.S. Energy shall not divulge to any other person or party any
information developed by U.S. Energy hereunder or revealed to U.S. Energy
pursuant to this Agreement, unless such information is (a) already in U.S.
Energy's possession and such information is not known by U.S. Energy to be
subject to another Confidentiality Agreement, or (b) is or becomes generally
available to the public other than as a result of an unauthorized disclosure by
U.S. Energy, its officers, employees, directors, agents or its advisors, or (c)
becomes available to U.S. Energy on a non-confidential basis from a source which
is not known to be prohibited from disclosing such information to U.S. Energy by
legal, contractual or fiduciary obligation to the supplier, or (d) is required
by U.S. Energy to be disclosed by court order, or (e) is permitted by GREEN
PLAINS. All such information shall be and remain the property of GREEN PLAINS
unless such information is subject to another Confidentiality Agreement, and
upon the termination of this Agreement, U.S. Energy shall return all such
information upon GREEN PLAINS's request. Notwithstanding anything to the
contrary herein, U.S. Energy shall not disclose any information which is in any
way related to this Agreement or U.S. Energy's services hereunder without first
discussing such proposed disclosure with GREEN PLAINS.

NOTICES: Any formal notice, request or demand which a party hereto may desire to
give to the other respecting this Agreement shall be in writing and shall be
considered as duly delivered as of the postmark date when mailed by ordinary,
registered or certified mail by said party to the addresses listed below. Either
party may, from time-to-time, identify alternate addresses at which they may
receive notice during the term of this Agreement by providing written notice to
the other party of such alternate addresses.

Green Plains Renewable
Energy, Inc.:                               Green Plains Renewable Energy, Inc.
                                            Attn: Barry Ellsworth
                                            9635 Irvine Bay Court
                                            Las Vegas, NV  89147

U.S. Energy:                                U.S. Energy Services, Inc.
(Payment)                                   c/o US Bank SDS 12-1449
                                            Account #: 173100561153
                                            P.O. Box 86 Minneapolis, MN 55486

(Notices):                                  U.S. Energy Services, Inc.
                                            1000 Superior Blvd
                                            Wayzata, MN  55391
                                            Attn: Gail McMinn

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<PAGE>

ASSIGNMENT OR AMENDMENT: The Agreement may not be assigned or amended without
the written consent of U.S. Energy and GREEN PLAINS.

APPLICABLE LAW: The Agreement shall be construed in accordance with the laws of
the State of Iowa.

ENTIRE AGREEMENT: This Agreement constitutes the entire Agreement among the
parties pertaining to the subject matter hereof and supersedes all prior
Agreements and understanding pertaining hereto.

If the above correctly sets forth GREEN PLAIN's understanding of the Agreement,
please so indicate in the spaces below and return both originals to U.S. Energy,
Attention: Gail McMinn

Sincerely,

U.S. ENERGY SERVICES, INC.

By: /s/ Gail McMinn (Sign)
----------------------------------
Name: Gail McMinn (Print)
Title: Vice President
Date: 10-5-04

ACCEPTED AND DATED TO THIS 5th
DAY OF OCTOBER, 2004.

GREEN PLAINS RENEWABLE ENERGY, INC.

By: /s/ Barry A. Ellsworth (Sign)
----------------------------------
Name: Barry A. Ellsworth (Print)
Title: President
Date: 10-5-04

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