Universal Energy Receives Drilling Permit, Hires Third Party Operator, Commences Drilling Operations.HOUSTON -- Universal Energy Resources, Inc. (the "Company") announced today that it has retained Remuda remuda the group of saddle horses kept on a beef cattle ranch, or station, or run. Operating Company operating company A business that engages in transactions with outsiders. , located in Midland, Texas Midland is the county seat of Midland CountyGR6 located on the Southern Plains of the western area of the U.S. State of Texas. As of the 2006 U.S. Census estimate, the city had a total population of 102,073. , as its operator for gas wells located in Crockett County, Texas Crockett County is a county located in the U.S. state of Texas. In 2000, its population was 4,099. It is named in honor of Davy Crockett, the legendary frontiersman who died at the Battle of the Alamo. The county seat is Ozona6. Geography According to the U.S. . The Company is a private venture formed by the principals of Grifco International, Inc. (GFCI See residual current device. .PK) to take advantage of oil and gas production opportunities without risking and/or otherwise encumbering the assets of the public company. On February 13, 2007, The Railroad Commission of Texas The Railroad Commission of Texas is the state agency that regulates the oil and gas industry, gas utilities, pipeline safety, safety in the liquefied petroleum gas industry, and surface coal and uranium mining. Oil & Gas Division issued our drilling permit. The first well will be known as Adams 127 Well Number 12. The drilling rig is currently on location and will be driving conductor pipe today. The company will commence drilling operations tomorrow, February 15th. It is anticipated that the company will give weekly updates on its drilling activities. The Company is currently in negotiations with Grifco to "go public" and thereafter enter into either a share exchange or dividend payout to the shareholders of Grifco in consideration of utilizing management expertise and know how. 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 An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called 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. |
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