Grifco International, Inc. Announces Extension of Time for Shareholders to Receive Preference Drilling Participation Shares on G

  
    
  
  
    
      Grifco International, Inc. (Pink Sheets:GFCI) announced today that it 
      has extended the time period for its shareholders of record (e.g. 
      December 25, 2006) to present proof of physical share certificate 
      ownership of GFCI shares to close of business on May 1, 2007. This 
      extension is based upon numerous shareholder calls stating that getting 
      physical share certificates of GFCI from their brokers will take 4 to 6 
      weeks longer than previously expected.
    
    
      Forward-Looking Cautionary Statements
    
    
      Any statements that are not based on historical fact are forward-looking 
      statements. Although such statements are based on management’s 
      current estimates and expectations, and currently available competitive, 
      financial, and economic data, forward-looking statements are inherently 
      uncertain. We, therefore, caution the reader that there are a variety of 
      factors that could cause business conditions and results to differ 
      materially from what is contained in our forward-looking statements.