SOURCE: Grifco International, Inc.

December 08, 2005 11:00 ET

Global Oil Tools Increases Louisiana Production 25%

HOUSTON, TX -- (MARKET WIRE) -- December 8, 2005 -- Global Oil Tools, Inc., a wholly owned subsidiary of Grifco International (OTC: GFCI), is pleased to announce a 25% production increase at its Louisiana production facility courtesy of the purchase and delivery of dual CNC lathe machines.

The CNC machines allow Global Oil Tools to better service its clientele by completing orders more quickly and with minimal outsourcing. The CNC lathes are state of the art, easily programmed and maintained, and allow Global to be highly competitive with its price quotes and delivery schedule.

"The CNC lathe machines deliver a marked improvement in our ability to meet production days as quoted," said Jim Dial, President and CEO of Grifco International, Inc. "The new CNC lathe machines will enable Global to increase our tool inventory while completing new orders for our customers. Global has over $1 million works in progress. We are committed to increasing our inventory turnovers and decreasing our production times. We have approved and committed two additional CNC machines in the first quarter of 2006."

Global Oil Tools, Inc. specializes in the manufacture of wireline tools, downhole production equipment and surface equipment. All tools manufactured by Global are interchangeable with major service company tools, providing greater acceptability and usage in inventory and field operations. Global has serviced wireline companies along the gulf coast and internationally for the past 27 years and services some of the largest clients in the oil and gas industry, having built a reputation over the years as a dependable and capable manufacturer.

Global Oil Tools, Inc. maintains an ongoing commitment to providing materials and services that meet or exceed our customer expectations. This is accomplished by utilizing qualified, trained personnel, the latest equipment and technology, and adhering to strict procedures and practices that assure compliance with this commitment to quality.

Global Oil Tools is ISO 9001 and A.P.I. Spec. 14A certified and our Quality Assurance Program conforms to all specifications set forth in ISO 9001 (ANSI/ASQC Q91) and A.P.I. Spec. 14A. We have strict quality control standards, starting with the purchase of raw materials, through the manufacturing process, the inspection process, and the shipping process. We maintain complete traceability on every product we manufacture.

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 industry throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco's patented products are known and used throughout the world. In addition to our patented tools, 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, and Schlumberger. Please visit www.grifco.org

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.

Contact Information

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