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Universal Energy Resources, Inc. Appoints Dr. Donald A. Goddard as Special Advisor to Board of Directors.

CONROE, Texas -- Universal Energy Resources, Inc., a private energy holding company, announced today that it had appointed Dr. Donald A. Goddard, an expert geologist in oil and gas exploration and production, as a Special Advisor to its Board of Directors. Dr. Goddard will also assist the Board of Directors in its negotiations with Grifco International, Inc. (GFCI.PK) in connection with the evaluation of oil and gas projects such as the 208 gas leases under contract in Crockett County, TX. As previously announced, Grifco International and its shareholders will receive an equity position in the 208 drill sites and/or gas production dividends on terms to be agreed upon by the parties.

Dr. Goddard began his career in 1965 with Gulf Oil Company (Mene Grande) in Eastern Venezuela. After working for many years as an exploration geophysicist and then production geologists, he became Manager of Geological Operations for Maraven Oil Company in Western Venezuela's Maracaibo region.

Dr. Goddard moved to the USA in 1990 when he began working as a petroleum researcher at Louisiana State University's ("LSU") Center for Energy Studies. While at LSU, Dr. Goddard worked on integrated field studies of mature oil and gas regions of the Gulf Coast, as well as, identifying and transferring upstream technologies to independent operators.

In addition to Dr. Goddard's work at LSU related to improving recovery in mature oil and gas fields, he is a petroleum consultant to international companies interested in pursuing upstream oil and gas activities in the USA and in Latin American countries.

Dr. Goddard's curriculum vitae spans over 30 years of petroleum experience including work in significant producing basins of North, Central and South America. Dr. Goddard was also involved in the initial well program in the early 1980s that help determine the extent of the huge reserves in the Zuata region of the "Orinoco Heavy Oil Belt" in Venezuela.

Dr. Goddard earned a Bachelor of Science degree in geology from Florida State University; Master of Science. and PhD degrees in marine geology and geophysics from the University of London; and a geological engineering degree from the Universidad Central de Venezuela. Dr. Goddard is a member of the American Association of Petroleum Geologists (AAPG); the Baton Rouge Geological Society (BRGS); the Venezuelan Geological Society (SVG); and the Society of Petroleum Engineers (SPE).

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.
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Publication:Business Wire
Date:Feb 6, 2007
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