GFCI Grifco International Inc (CE)

Universal Energy Resources, Inc. (the "Company") announced today updated drilling operations through Sunday February 25, 2007. The Company is a private venture formed by the principals of Grifco International, Inc. (Pink Sheets:GFCI) to take advantage of oil and gas production opportunities including 208 drill sites in Crockett County, Texas without risking and/or otherwise encumbering the assets of the public company. The following is a day to day recap of the drilling operations at Adams 127 Well Number 12. 2/15/07 moved rig on location, drilled to 30 ft. Ran 20 ft. of 10 �� casing. Cemented casing in place. 2/16/07 Hook up drill head and blew line. Drilled 9 7/8� hole to 360 ft. 2/17/07 Drilled to 860 ft. 2/18/07 Drilled to 1040 ft. Tripped drill pipe. Ran 7� casing. 2/19/07 Cemented 7� casing. 2/20/07 Hooked up well head and blow line. Drilled 6 �� hole to 1410 ft. 2/21/07 Drilled to 2430 ft. 2/22/07 Drilled to 3175 ft. 2/23/07 Drilled to 4750 ft. Well releasing gas. Flaring gas on connections. 2/24/07 Flared gas, tripped out of hole. Logged hole. 2/24/07 Flared gas. After review of data and correlation logs on wells closest to Adams 127 well number 12 decided to drill additional footage into producing formation. 2/25/07 Flared gas, tripped back into hole, commenced drilling, flaring gas on connections. The Company is currently in negotiations with Grifco to "go public" and thereafter enter into a share exchange with the shareholders of Grifco in consideration of utilizing management expertise and know how. Comprehensive engineering and reserve reports have been prepared on the 208 drill sites with further details to follow. Forward Looking Statements: Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.