Grifco (CE) (USOTC:GFCI)
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From May 2019 to May 2024
Universal Energy Resources, Inc. (the "Company") announced today updated
drilling operations through Thursday, March 01. 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 an update of the drilling operations at Adams 127 Well
Number 12.
2/28/07 Flaring gas, finished running 4 ½”
casing. Flaring gas all night.
3/01/07 Continue flaring gas, cementing 4 ½”
casing.
The Company anticipates starting to complete Adams 127 well 12 on
Friday, March 02, 2007. The completion process should take approximately
2 weeks to bring the gas to market. Once perforated and fracing is
completed we will publish the flow rates through various choke sizes. In
addition, the second drill site pad has been completed and the drilling
rig is moving to the new location to start our second well. It is
anticipated that the rig will be driving conductor pipe on Monday, March
5th.
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.