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GFCI (.0475) ... Not sure what this means, but it just came out ...

GFCI Notified of Selection of Warrant Agent for Class A, B and C Preference Drilling Participation Shares
Business Wire - December 15, 2006 10:51

CONROE, Texas, Dec 15, 2006 (BUSINESS WIRE) -- Grifco International, Inc. (Pink Sheets: GFCI) announced today that it has received written notification from Universal Energy Resources, Inc. that it has selected Mellon Investor Services to act as its warrant agent in connection with the issuance of Series A, B, and C Preference Drilling Participation Shares.

The first step in issuing the warrants will be getting a shareholders' list from the transfer agent for the Record Date close of business on December 25, 2006. All shareholders on the Record Date will be entitled to receive their pro rata share of Class A, B and C Preference Drilling Participation Shares. Further details will follow.

Jim Dial President stated "we are pleased with shareholder reaction to the Series A, B and C Preference Drilling Participation Shares. This is a great way to give our shareholders participation in the Net Royalty Interest on the gas production program in Crockett County, TX. We intend on negotiating additional warrants and rights agreements for the benefit of our shareholders in the future." 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.

SOURCE: Grifco International, Inc.

Grifco International, Inc.
Mike King 702-650-3000