Universal Energy Resources, Inc. Strikes Natural Gas

  
    
  
  
    
      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 ¾” 
        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 ¼” 
        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.