Global Oil Tools Begins Delivery of Back-Logged Orders for Libya and Africa.

HOUMA, La. -- Global Oil Tools Libya and Global Oil Tools Houma, a wholly owned subsidiary of Grifco International, Inc., jointly announce first of back-logged orders and deliveries to client operations in Libya and Africa are under way. Global Oil Tools ("Global") is ISO 9001 and A.P.I. Spec. 14A certified and its Quality Assurance Program conforms to all specifications set forth in ISO 9001 (ANSI/ASQC Q91) and A.P.I. Spec. 14A. Global enforces strict quality control standards, starting with the purchase of raw materials, through the manufacturing process, the inspection process, and the shipping process. Global maintains complete traceability on every product manufactured. Global Oil Tools' Libya facility in Misurata was strategically planned to provide ready access to critical key distribution points from which Global products can be delivered to regional customers on a just-in-time basis. Global Oil Tools' advantage in North Africa is the ability to provide a localized, fully integrated development, manufacturing and shipping facility over competitors shipping tools from distant distribution centers. Pioneer and founder WJ Barnhill of Global Oil Tools states, "Global Oil Tools' market share is clearly gaining incredible momentum in the region. Back-logged orders for customer projects in Libya and in Africa have now been flowing through nicely and shipments are being delivered on time. Iraq shipments and deliveries have also been flowing well in recent months."

Libya, which is eager to capitalize on its oil reserves and give its crude capacity a much needed boost, will announce the winners of its third open licensing round Dec. 20, the head of Libya's oil policy said Wednesday. The round, which puts up for grabs 41 onshore and offshore blocks, is the latest move by Libya to increase its crude output to 3 million barrels-a-day by around 2010. In a statement by Jim Dial, President & CEO of Grifco International (OTC.GFCI), "The fact is that in many of our discussions with Lyamec about the Global Libya project last year, we were always advised then that Africa would be a major stepping stone for the future and for the (Facility) location, and in fact, now, in a report of the proceedings of the Comesa Council of Ministers held in Djibouti November 2006, Libya had informed the meeting that it already ratified its accession to the trading bloc and would formally conclude the process after submitting the legal instruments to the Comesa secretariat in Lusaka, Zambia, later this month. The ratification implications for the our partners in Africa is that exports from this oil-rich country will now have duty-free access to 13 other Comesa member-states that have so far signed on to the Free Trade Area arrangement. Global Houma reports that working under the prescribed unification of Global Oil Tools Libya is clearly becoming a more efficient process especially with the ongoing information technology modernization, and with that of the State of the Art CNC units that have been delivered to Houma as well as the excitement of taking possession of additional equipment deliveries scheduled for this week and in late January 2007."

About Global Oil Tools, Inc.

Global Oil Tools specializes in the manufacture of wire line tools, down hole flow control and surface equipment for the oil and gas industries. Its tools are used worldwide and are interchangeable with major service company tools, providing enhanced compatibility and usage in inventory and field operations. Global is ISO 9001 and A.P.I. Spec. 14A certified, and its ongoing Quality Assurance Program ensures continuous improvement beyond these stringent specifications from concept design through field deployment.

About Grifco International, Inc.

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 industries throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco holds and owns design rights and manufacturing facilities for producing more than 6,000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton, Exxon Mobil Corp, and Schlumberger. For more information, please visit: www.grifco.org.

Safe Harbor Act

The statements contained in this news release include "forward-looking statements" within the meaning of Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those forward-looking statements as such statements involve risks and uncertainties that can impact the delivery of, meeting of, or exceeding of such expectations.