GFCI Grifco International Inc (CE)

Grifco International Inc. (Pink Sheets: GFCI) announced today that its board of directors has approved a share buy back initiative to purchase common shares of the Company. The shares of GFCI.PK will be purchased in the open market in any amount up to five million shares by the Company. The timing of the buyback will be directed by Jim Dial, President and CEO. At present, the buy back program is being financed by the Company without the necessity of outside financing. The Company and its management believe that the buy back program is complementary to their goal of becoming a fully reporting company listed on the over the counter bulletin board. 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.