Universal Energy Resources, Inc. Commences Drilling on 2nd Well
March 13 2007 - 10:34AM
Business Wire
Universal Energy Resources, Inc. (the "Company") announced today
that it has commenced drilling on the 2nd well located in Crockett
County, Texas. The Company is a private venture formed by the
principals of Grifco International, Inc. (Pink Sheets:GFCI) to take
advantage of oil and gas production opportunities without risking
and/or otherwise encumbering the assets of the public company. On
March 9, 2007, The Railroad Commission of Texas Oil & Gas
Division issued our drilling permit. The second well will be known
as Adams 127 Well Number 11. The drilling rig is currently on
location and will be driving conductor pipe today. The company will
commence drilling operations tomorrow, March 14th. 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 a share exchange
with the shareholders of Grifco in consideration of utilizing
management expertise and know how. Comprehensive engineering and
reserve reports have been prepared on the 208 drill sites with
further details to follow. 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.
Grifco (CE) (USOTC:GFCI)
Historical Stock Chart
From Jul 2024 to Aug 2024
Grifco (CE) (USOTC:GFCI)
Historical Stock Chart
From Aug 2023 to Aug 2024