GFCI Grifco International Inc (CE)

Universal Energy Resources, Inc. (the "Company") announced today that it has commenced drilling on the 2nd well located in Crockett County, Texas. 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 without risking and/or otherwise encumbering the assets of the public company. On March 9, 2007, The Railroad Commission of Texas Oil & Gas Division issued our drilling permit. The second well will be known as Adams 127 Well Number 11. The drilling rig is currently on location and will be driving conductor pipe today. The company will commence drilling operations tomorrow, March 14th. It is anticipated that the company will give weekly updates on its drilling activities. 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.