Grifco Inc (GFCI)

[SPARK]

Grifco Completes Production of 50 Jet Motors; Plans to Ship Within 5 Days
HOUSTON, TX -- (MARKET WIRE) -- 07/15/05 -- Grifco International, Inc. (OTC: GFCI), a
provider of oil and gas services equipment to the worldwide oil and gas
industry, has completed production on its initial slate of fifty Jet Motor
units and expects to begin shipping from its Texas facility within five
days.



"Several of the major oil and gas companies, as well as large independents,
have lined up to utilize this 'one of a kind' tool, knowing that a single
Jet Motor will typically increase oil and gas production 15-25% per well,
while saving money on workover costs," stated Jim Dial, President and CEO
of Grifco International. "We anticipate that the rental units will be used
continuously and repetitively by clients, shifting from well to well, for
the life of the tool. The fifty Jet Motor units will generate approximately
$2 million per month in rental fees with 75% utilization.





"As part of our quality assurance procedures, each tool will be tested on
Monday and Tuesday at our test facility and we will begin shipping to our
customers on Wednesday, July 20th," added Dial.



Coil Tubing Technology, Inc., a wholly owned subsidiary of Grifco
International, Inc., produces the "Jet Motor," a proprietary product for
the oilfield drilling and production workover industry. The oilwell
workover industry has long desired a downhole drilling motor that can
operate on coiled tubing workover units with fluid or nitrogen wells up to
600 degrees Fahrenheit to effectively clean paraffins, sodium carbonates
and barium in tubular production strings.



The design concept behind the Jet Motor was to provide the industry with a
rotationally driven tool, independent of the workstring, without
elastomers, and able to produce sufficient horsepower. The tool needed to
operate on fluid or nitrogen and the tool needed to supply sufficient jet
velocity and impact force to the nozzle. The Jet Motor solves this riddle
by creating horsepower by injection of the fluid or gas used through an
offset orifice while converting the horsepower to torque with a control
tube that maximizes the torque to the drive system and provides useable
drilling torque to the bit. There is no other product available in the
industry that can hydraulically clean, mechanically drill with torque,
utilized in fluid or gas, and able to operate in 550 degree F hole
conditions.



The Jet Motor represents the leading edge of oilfield drilling technology
that will revolutionize the way drilling and workover operations are
conducted while greatly reducing the cost of workover to the well operator.



Grifco International is a leading provider of oil and gas services
equipment, specializing in the conception, architecture, and development of
tools for the coil tubing, wire line, and snubbing industry throughout the
US, China, Mexico and South America. Grifco's patented products are known
and used throughout the world. In addition to our patented tools, Grifco
designs and manufactures over 350 products for the Oil and Gas industry
with a clientele boasting the biggest names in the business, including
Halliburton, Exxon, and Schlumberger. Please visit www.grifco.org



Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The Company cautions the assumptions, expectations, projections,
intentions, or beliefs about future events may, and often do, vary from
actual results and the differences can be material. Some of the key factors
which could cause actual results to vary from those the Company expects
include changes in natural gas and oil prices, the timing of planned
capital expenditures, availability of acquisitions, uncertainties in
estimating proved reserves and forecasting production results, operational
factors affecting the commencement or maintenance of producing wells, the
condition of the capital markets generally, as well as our ability to
access them, and uncertainties regarding environmental regulations or
litigation and other legal or regulatory developments affecting our
business. More information about the risks and uncertainties relating to
the Company's forward-looking statements are found in our SEC filings.



Contact:

Grifco International, Inc.
http://www.grifco.org

Mike King
[phone]
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