Grifco (CE) (USOTC:GFCI)
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From May 2019 to May 2024
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.