Grifco Reports New China Orders

Grifco International, Inc. said that it is receiving purchase orders for coil tubing tools in China. This first purchase order is for $475,000 and there are two additional purchase orders which will be completed in 1Q07 for $475,000 per order. The total package totals $1,425,000 in new purchase orders.

Jim Dial, President, stated, "We continue to gain strength in getting new orders from producers located in the oil fields of China. Our products remain competitive in the world market. We are known for both quality and value. The new orders came through one of our international agents who continues to perform above our expectations."

Grifco International is a provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industries throughout the United States, China, Mexico, South America, the Middle East and Africa. 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.