Tuesday
March 10, 2009 – Universal
Energy Corp. Increases Production for 4th Consecutive Quarter
On
the Road Again – Pump Prices Revive Appeal of Natural Gas on Capitol Hill and in Detroit
Friday September 5, 2008 – Universal Energy Corp. Announces 7th Consecutive Month of Increased Production
Wednesday August 20, 2008 – Universal Energy Corp. Announces Results for the Second Quarter of Fiscal Year 2008
Thursday August 14, 2008 – Universal Energy Corp. Announces 123% and 244% Increases in Gas and Oil Production Quantities in the 2nd Quarter 2008
Monday August 4, 2008 – Universal Energy Corp. Announces Increased Production at its Caviar Wells
Wednesday July 16, 2008 – Universal Energy Corp. Provides Drilling Update #6 for Lone Oak Prospect
Monday July 14, 2008 – Universal Energy Corp. Begins Production at Caviar #1 and Caviar #4
Tuesday July 8, 2008 – Universal Energy Corp. Provides Drilling Update #5 for Lone Oak Prospect
Thursday July 3, 2008 – Universal Energy Corp. Announces Completion of Caviar Pipeline
Tuesday July 1, 2008 – Universal Energy Corp. Begins Installation of Intermediate Casing at its Lone Oak Prospect in Galveston Bay, Texas
Thursday June 26, 2008 – Universal Energy Corp. Nears Completion of Pipeline Construction at Its Caviar #1 and Caviar #4 Prospects
Thursday June 19, 2008 – Universal Energy Corp. Provides Drilling Update #3 on Lone Oak Prospect in Galveston Bay, Texas
Friday June 13, 2008 – Universal Energy Corp. Provides Drilling Update #2 on Lone Oak Prospect in Galveston Bay, Texas
Wednesday June 11, 2008 – Universal Energy Corp. Announces That Pipeline Construction at Its Caviar Prospect Is Ahead of Schedule
Monday June 9, 2008 – Universal Energy Corp. Announces Drilling Update #1 on Lone Oak Prospect in Texas as Oil Prices Skyrocket Toward $150 Per Barrel
Monday June 2, 2008 – Universal Energy Corp. Announces That Site Preparations are Underway at its Lone Oak Prospect; Drilling Operations at Lone Oak Will Begin This Week
May 27, 2008 - Q1 2008 Earnings Conference Call
May 8, 2008 - Universal Energy Corp. Announces Positive Results from Flow Tests at Caviar #1 & Caviar #4
May 6, 2008 - Universal Energy Corp. Announces Schedule for First Quarter Earnings Release and Conference Call
May 2, 2008 - Universal Energy Corp. Announces That Pipeline Construction to Tie-in Caviar #1 and Caviar #4 is Now Underway
April 29, 2008 - Universal Energy Corp. Announces Steadily Increasing Production at its Amberjack Prospect
April 16, 2008 - Universal Energy Corp. Completes Upper Zone of Amberjack Prospect to Achieve Increased Production
February 27, 2008 - Oil and Natural Gas Prices Continue Their Climb as Universal Energy Corp. Awaits Tie-In of Its Caviar #1 and Caviar #4 Prospects
February 14, 2008 - Universal Energy Corp. Receives Revenue from its Amberjack Prospect for December 2007 Production
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January 8, 2008 - Universal Energy Corp. Begins Production at its Lake Campo Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News), an emerging domestic oil and gas exploration and production company, is pleased to announce that production is scheduled to begin today at its Lake Campo Prospect. Billy Raley, CEO of Universal Energy Corp. commented, "A large component of our success to date as well as our expected profitability in the first quarter of this year is the production at Lake Campo." Raley continued, "I am pleased to say that Lake Campo and Amberjack are in production and will make a positive financial impact on the company."
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Forward Looking Statements - The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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January 3, 2008 - Universal Energy Corp. Prepares for Production at its Caviar #1 Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News), an emerging domestic oil and gas exploration and production company, is pleased to announce that completion procedures have now been finished at its Caviar #1 Prospect. "We continue our progress into the new year," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "Having the Caviar #1 well ready for production and beginning completion procedures at Caviar #4 tomorrow puts us in an excellent position for 2008."
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Forward Looking Statements - The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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December 20, 2007 - Universal Energy Corp. Nears Completion of Drilling Operations at its East OMG Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News), an emerging domestic oil and gas exploration and production company, is pleased to provide the following update on its East OMG prospect. Drilling operations have reached a vertical depth of approximately 16,000 feet. Universal Energy anticipates that drilling operations will reach its planned total vertical depth of 16,500 feet on December 23, 2007.
Universal Energy Corp acquired its 17.5 percent working interest in the East OMG Prospect in August 2007. Drilling began on the prospect on October 23, 2007 and drilling operations have continued successfully at the prospect since then. "Six weeks between the acquisition of this prospect and the start of drilling is a great example of our efficient business model and the subsequent execution of such," commented Billy Raley, CEO of Universal Energy Corp.
"The financial impact of East OMG is what we have all been waiting for since its acquisition in August," commented Dyron Watford, CFO of Universal Energy Corp. Well log analysis was performed to a depth of approximately 13,500 feet, prior to drilling to the main objectives, and shows a pay zone in one of the secondary objectives of the prospect.
About East OMG
The main objective sandstones, Camerina and Miogyp, which comprise the East OMG prospect, have potential reserves in excess of 59 Billion Cubic Feet Equivalent of gas valued at approximately $416,000,000. Universal Energy Corp. holds a 17.5 percent working interest in this prospect.
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Forward Looking Statements - The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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December 12, 2007 - Universal Energy Corp. Begins Oil Production at its Amberjack Prospect and Reaffirms Guidance of First Quarter 2008 Profitability
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News), an emerging domestic oil and gas exploration and production company, is pleased to announce that oil production has now begun at its Amberjack prospect. "Our first revenues from production are a historic event," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "Production estimates have been right on track and our previous estimates of profitability for the first quarter of 2008 are solid".
Universal Energy will update its stockholders each month on its production numbers for each of its prospects. "With production scheduled to begin from Lake Campo in the next few days, 2008 is shaping up to be a fantastic year for Universal Energy and its stockholders," commented Dyron Watford, CFO of Universal Energy Corp.
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Forward Looking Statements - The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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December 10, 2007 - Universal Energy Corp. Enters Into Main Objective Sandstones at Its East OMG Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News), an emerging domestic oil and gas exploration and production company, is pleased to provide the following update on its East OMG prospect. Drilling operations have reached a vertical depth of 14,564 feet. Universal Energy anticipates that drilling operations will continue for seven more days to reach a total vertical depth of 16,500 feet.
The four objectives in the East OMG prospect are as follows: Upper Miogyp Sandstones and Camerina Sandstones (main); MH-1 & MH-2 (secondary). "We are pleased to announce that analysis of the well logs indicates pay in our secondary targets," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "Well data has been positive and suggests that we have now entered into the Camerina sandstone. We look forward to entering the Miogyp next week."
The main objective sandstones, Camerina and Miogyp, which comprise the East OMG prospect, have potential reserves in excess of 59 Billion Cubic Feet Equivalent of gas valued at approximately $416,000,000. Universal Energy Corp. holds a 17.5 percent working interest in this prospect.
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Forward Looking Statements - The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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November 26, 2007 - Universal Energy Corp. Announces 4th Drilling Success in the last 90 Days
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to announce that drilling operations are now complete at the company's Caviar #4 Prospect. The well logs for Caviar #4 displayed pay zones in excess of sixty feet of gas pay. Production from this prospect will begin in the first quarter of 2008.
"We continue to make excellent progress," commented Billy Raley, CEO of Universal Energy Corp. Raley concluded, "The production from our drilling successes at Amberjack, Caviar #1, Lake Campo and Caviar #4 will make for a wonderful year for Universal Energy in 2008."
Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Forward Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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November 15, 2007 - Universal Energy Corp. Projects Profitability for the First Quarter of 2008 Based on Recent Drilling Successes
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News), an emerging domestic oil and gas exploration and production company, is pleased to announce that the company now projects profitability in the first quarter of 2008. "Our success at the wellbore is turning into real dollars for the company," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "With the production life of our already successful wells ranging from eight to twelve years, the visibility of our future revenue could not be clearer."
"Reaching profitability sets us apart from our peers," commented Dyron Watford, CFO of Universal Energy Corp., when asked about how Universal Energy was different from other emerging oil and gas companies. Watford continued, "I'm excited to be a part of Universal Energy, and I am even more excited that I'm a stockholder as well."
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Forward Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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November 8, 2007 - Universal Energy Corp. to Begin Oil Production from Amberjack Prospect this Month
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to announce an update on the three recent successful drill programs at its Amberjack, Caviar #1, and Lake Campo prospects. "Completing these three wells and getting them into production is our top priority and it's occurring as we speak," stated Billy Raley CEO of Universal Energy Corp.
"Receiving revenue from the Amberjack well is exciting for the company and its stockholders; especially with oil continuing its climb to $100 per barrel," commented Dyron Watford, CFO of Universal Energy Corp. Watford continued "With each day that passes, the company is turning its drilling success in its last three drills into financial success for its stockholders."
Continuing its model of growth through the drill bit, Universal Energy Corp. is currently drilling two additional wells in southern Louisiana, East OMG and West Rosedale.
About the East OMG Prospect
The East OMG 3-D prospect is located in Cameron Parish, Louisiana. Wells adjacent to the prospect have produced outstanding returns such as Chalkley Miogyp field and S. Lake Arthur, which have cumulative production of 500 billion cubic feet equivalent ("BCFE") and 800 billion cubic feet, respectively. Production from the adjacent wells listed above is from the same Upper Miogyp sandstones that are the main objective of the East OMG Prospect. The combined reserve potential of the four principal objective sandstones that comprise the East OMG prospect is estimated to be greater than 59 BCFE.
About the W. Rosedale Prospect
The W. Rosedale 3-D prospect located in Iberville Parish, Louisiana. Numerous area fields, such as Happytown, Rosedale, Klondike, and Grosse Tete, have produced significant oil and gas from the Oligocene age objective sand section. Risk reduction for this prospect is from log and core shows in seven of the eight objective sands. The reserve potential for this prospect is 3.5 BCF and 910,000 BBLS.
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Forward Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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October 31, 2007 - Universal Energy Corp. Announces Successful Drilling Program at its Lake Campo Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to give the following update on its Lake Campo prospect. In an announcement last week, Universal Energy Corp. announced that the analysis of daily reports from the Lake Campo prospect was providing an excellent indication as to the overall success of the prospect.
During the past few days, drilling operations reached the target depth of the well and an analysis of the well log was performed. The well log analysis showed 46 feet of gas pay throughout 4 sections of the well. Based on this analysis, the company and its well partners have elected to install production casing for the well. Lake Campo will be Universal Energy Corp.'s third commercial discovery of oil and gas within the past eight weeks.
"Three for three is not bad," commented Billy Raley, Universal Energy Corp. CEO when asked about the recent drilling success at the company's Amberjack, Caviar #1 and Lake Campo prospects. Raley continued, "Our prospect portfolio is proving its merit with each turn of the drill bit."
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Forward Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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October 26, 2007 - Universal Energy Corp.'s Lake Campo Prospect Showing Signs of Another Drilling Success
HOUSTON, Oct. 26 /PRNewswire-FirstCall/ -- Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to give the following update on its Lake Campo, W. Rosedale and East OMG prospects. Currently, drilling is progressing at the following depths (planned depths of wells in parenthesis):
-- Lake Campo - 9,100 feet (10,540)
-- W. Rosedale - 7,000 feet (10,040)
-- East OMG - 3,600 feet (16,500)
Progress is continuing at Universal Energy's East OMG prospect as casing is currently being installed to a planned depth of 3,600 feet. Additionally, the company currently anticipates completing drilling at its W. Rosedale prospect ahead of schedule.
The most exciting news comes from the analysis of daily reports from the Lake Campo prospect. This analysis provides an excellent indication as to the overall success of the prospect. During drilling, gas has been encountered in multiple zones previously identified by the 3-D seismic report of the prospect. These encounters are excellent indicators as to the success of the prospect.
"Exactly as we expected," commented Billy Raley, Universal Energy Corp. CEO when asked about the preliminary results of the Lake Campo prospect. Raley continued "Encountering hydrocarbons where you anticipate them is always a good sign."
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and throughout Louisiana. Visit www.universalenergycorp.info for more details.
Forward Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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October 18, 2007 - Universal Energy Corp. Continues Drilling Program with Record Week of Drilling Operations. Drilling Operations are Now Underway at the Lake Campo, W. Rosedale and East OMG Prospects.
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to notify investors that drilling operations have commenced on its Lake Campo, W. Rosedale and East OMG prospects. Each of the three independent drilling operations is progressing on schedule. The company has recently completed production casing at its last two prospects that were successfully drilled: Amberjack and Caviar #1.
"The financial impact of this week is staggering," commented Dyron Watford, CFO of Universal Energy Corp. when asked about this week's drilling operations. Watford continued, "With oil prices continuing the climb toward $100 per barrel, the prospects that Universal are drilling become better investments with each passing day."
"The hard work of developing a risk diversified portfolio of prospects is really beginning to pay off," commented Billy Raley, Universal Energy Corp. CEO. Raley continued, "The drilling operations that commenced this week will create a positive impact on Universal for years to come."
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and throughout Louisiana. Visit www.universalenergycorp.info for more details.
Forward Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Universal Energy Corp.
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October 17, 2007 - Equity Stock Analysis Announces ResearchCoverage of Universal Energy Corp. with a Rating of "Attractive'' and a Price Target of $2.45
DALLAS / BUSINESS WIRE
Kris Gupta, CFA for Equity Stock Analysis, has issued a research report regarding the future potential of Universal Energy Corp. (OTCBB: UVSE - News). The full report is available at http://www.equitystockanalysis.com.
In the report, Kris Gupta writes, "The nine projects under contract for UVSE provide the critical mass, net worth and reserve base needed for UVSE to be a successful energy exploration and production company. In the next seventy days and before January 1, 2008, it is expected that UVSE will be generating revenue from five wells, with additional revenue from four additional wells within the next one hundred and sixty days.
"The potential exists to dramatically increase cash flow as these wells begin production: five wells in 2007, four wells in the first quarter of 2008, and additional wells thereafter will provide continued positive increased production output for 2008.
"We have delivered an over view of risked assessment of proved undeveloped reserves and a discount cash flow model arriving at a value of $2.45 per share which is likely to increase significantly as proved reserves become established over the next weeks and months."
About Equity Stock Analysis
EQUITY STOCK ANALYSIS ("ESA") is committed to the highest ethical standards and as such is not subject to external pressure that is sometimes experienced to issue-biased research. This pressure is avoided by refusing to accept companies that cannot be recommended with objectivity, quality, and accuracy of research. ESA and its Certified Financial Analysts are independent, objective, and have a reasonable and adequate basis for our investment recommendations. ESA has established formal written policies supporting independent and objective analyst research. ESA has senior corporate officer publicly attest, at least annually, to adherence to the policy.
Disclosure: Pentony Enterprises LLC has been compensated $215,000 by the company for profile coverage. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
Source: Universal Energy Corp.Stock
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October 16, 2007 - Guru.com Announces a New Executive Interview with Billy Raley, Chief Executive Officer of Universal Energy Corp.
DALLAS / PRIME NEWSWIRE
John Pentony, Publisher of StockGuru.com, announced today that the web site has released a new exclusive executive interview with Billy Raley, Chief Executive Officer of Universal Energy Corp. (OTC BB:UVSE.OB - News). During the interview Mr. Raley discusses the Company's nine individual drilling properties, the Company's low operating costs, and the significance of the Company's drilling record. Universal Energy Corp. is two for two in drilling for oil since the Company's inception in 2006.
Mr. Raley expresses how having that type of success in the drilling and exploration industry increases shareholder value through growing revenue and expanding working capital for continued projects To listen to the StockGuru.com interview with Billy Raley, Chief Executive Officer of Universal Energy Corp., please visit http://www.stockguru.com/podcasts/?p=16
To view the StockGuru.com Profile for Universal Energy Corp., please visit http://www.stockguru.com/profiles/uvse
About Universal Energy Corp.
Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada Texas, and Louisiana. Visit http://www.universalenergycorp.info for more details.
About StockGuru.com
StockGuru.com features daily alerts going out three times daily to members. To join our email alert list, please visit: http://www.stockguru.com/stocks.htm
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Disclosure:
Pentony Enterprises LLC has been compensated $215,000 by the company for profile coverage. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
Source: StockGuru.com; Universal Energy Corp.
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October 12, 2007 - Universal Energy Corp. Announces that Drilling Will Begin on the East OMG and W. Rosedale Prospects Next Week
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to announce that drilling is scheduled to being on W. Rosedale and East OMG next week. The company has recently completed successful drilling programs at Amberjack and Caviar #1 and is preparing both of those operations for production.
"Our drilling program is coming along quite nicely," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "Acquire, drill and produce. It's a simple model, and it's working well."
About the East OMG Prospect
The East OMG 3-D prospect is located in Cameron Parish, Louisiana. Wells adjacent to the prospect have produced outstanding returns such as Chalkley Miogyp field and S. Lake Arthur, which have cumulative production of 500 billion cubic feet equivalent ("BCFE") and 800 billion cubic feet, respectively. Production from the adjacent wells listed above is from the same Upper Miogyp sandstones that are the main objective of the East OMG Prospect. The combined reserve potential of the four principal objective sandstones that comprise the East OMG prospect is estimated to be greater than 59 BCFE.
About the W. Rosedale Prospect
The W. Rosedale 3-D prospect located in Iberville Parish, Louisiana. Numerous area fields, such as Happytown, Rosedale, Klondike, and Grosse Tete, have produced significant oil and gas from the Oligocene age objective sand section. Risk reduction for this prospect is from log and core shows in seven of the eight objective sands. The reserve potential for this prospect is 3.5 BCF and 910,000 BBLS.
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Forward Looking Statements
The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
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October 9, 2008 - Universal Energy Corp. Signs Agreement for Ninth 3-D Drill Ready Prospect in Past Six Months - Drilling will begin on new prospect during October 2007
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to announce that it has entered into a participation agreement for another 3-D drill ready prospect in Iberville Parish, Louisiana. This prospect, know as W. Rosedale, is the ninth drill ready prospect the company has acquired in the past six months. Currently, the Company's drill ready portfolio consists of the following prospects: Amberjack, Caviar (4 prospects), East OMG, Lake Campo, Lone Oak and W. Rosedale. The company has recently completed successful drilling operations at Amberjack and Caviar #1.
"The growth of our quality prospect portfolio over the past few months has been incredible," commented Billy Raley CEO of Universal Energy Corp. Raley concluded, "The ability to diversify risks by consistently growing the prospect portfolio is a key to our success."
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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October 3, 2007 - Universal Energy Corp. Anticipates Commencement of Drilling at East OMG in Less Than Two Weeks
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to announce that drilling at the East OMG prospect in Cameron Parish, Louisiana will begin within the next two weeks.
"Drilling operations have moved swiftly over the past few weeks," commented Billy Raley CEO of Universal Energy Corp, when asked about Universal Energy Corp.'s drilling schedule. Raley continued, "We are completing the necessary steps to bring Amberjack and Caviar #1 to production while preparing for what is expected to be huge profits from East OMG."
About the East OMG Prospect
The East OMG 3-D prospect is located in Cameron Parish, Louisiana. Wells adjacent to the prospect have produced outstanding returns such as Chalkley Miogyp field and S. Lake Arthur, which have cumulative production of 500 billion cubic feet equivalent ("BCFE") and 800 billion cubic feet, respectively. Production from the adjacent wells listed above is from the same Upper Miogyp sandstones that are the main objective of the East OMG Prospect. The combined reserve potential of the four principal objective sandstones that comprise the East OMG prospect is estimated to be greater than 59 BCFE.
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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September 26, 2007 - Universal Energy Corp. Announces Continued Drilling Success
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) announced, today, that the Caviar #1 prospect in Plaquemines Parish, Louisiana has successfully lived up to its high tech analysis.
At its Caviar #1, the second prospect of six planned in the prolific Louisiana area, Universal Energy has completed installing the "casing" in preparation for production as a multi-zone gas well.
Billy Raley, CEO of Universal Energy Corp., stated, "The success of our first two drills from the summer/fall series has proven that the technology and research preparation prior to drilling certainly pays off. This continued success of our ongoing drilling program demonstrates the strength of our prospects and the growth potential of our company through the production from our ground assets. Given the current political climate with the Middle East, I think we all agree that domestic oil and gas sources like ours are becoming more critical to our nation's future every day."
Universal Energy Corp. continues to follow its corporate growth plan of investing in prolific areas within the United States and Canada by acquiring low risk in-field oil and gas rights that offset existing production. The Louisiana and Texas prospects the company is currently drilling are properties analyzed by 3-D seismic surveys and other research techniques to lower risk while providing opportunities to higher-return exploration.
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada Texas, and Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
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September 21, 2007 - Universal Energy Corp.'s Success Continues with Drilling at Caviar #1
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE.OB - News) is pleased to provide an update on drilling operations at Caviar #1. Drilling commenced at Caviar #1 on September 11, 2007 to target Middle Miocene (Cib-Carst, Tex-W) objectives between 9,000' and 11,000'. The estimated drilling time for the well was three weeks. As of yesterday, drilling operations, which are ahead of schedule, reached a total vertical depth of 9,673 feet and a total measured depth of 9,717 feet. The total vertical depth of the well is planned to be 10,700 feet. It is estimated that drilling will be finished within the next 36 hours. Upon completion of drilling, a well log will be completed and analyzed to determine estimated commercial quantities of oil and gas at Caviar #1.
"We are delighted with the data we have seen from drilling at Caviar #1," commented Billy Raley CEO of Universal Energy Corp. Raley continued, "Without question, the data points have proven out the quality of our prospect portfolio."
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
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September 18, 2007 - Universal Energy Corp. Expands Drill Ready Portfolio with Acquisition of High Impact Prospect in Galveston Bay, Texas
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE.OB - News), continuing their model of growth through the drill bit, announced, today, that the Company has entered into a participation agreement for a major oil and gas prospect in Texas.
The prospect, known as Lone Oak, is a 3-D drill ready prospect with enormous potential. With this agreement, the company has acquired a 12.5 percent interest before casing point of this prospect with total potential reserves exceeding 136 billion cubic feet equivalent ("BCFE").
"Our land portfolio continues its evolution into more and more significant prospects," stated Billy Raley, CEO of Universal Energy Corp. "With Universal's recent success at Amberjack and the ongoing drilling of Caviar, the next few months will be exhilarating as East OMG, Lone Oak and the Lake Campo prospects are drilled. Management is proud to deliver this type of prospect to our stockholders."
Lone Oak Prospect
The 3,526 acre Lone Oak Prospect is located in the prolific Frio-Vicksburg trend of Chambers and Galveston Counties, Texas. This area (Houston Salt Basin) is where over 4 trillion cubic feet of gas and 4 billion barrels of oil have been produced since 1900. Lone Oak is nine miles northeast of Eagle Bay Field which has produced over 110 billion cubic feet of gas and 10 million barrels of condensate from the Vicksburg sandstone reservoirs. The multiple objectives of Lone Oak are the same Vicksburg sandstone reservoirs produced at Eagle Bay Field as well as other fields within the trend.
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
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September 13, 2007 - Universal Energy Corp. Begins Drilling at Caviar #1 Well as Oil Prices Hit Record Highs
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE.OB - News) announced, today, that drilling has begun at its Caviar #1 Prospect located in Plaquemines Parish, Louisiana. This drilling program at Caviar follows a successful drilling program at the Company's Amberjack prospect.
Oil prices on Wednesday reached all time highs largely in part to the belief by industry analysts and consumer nations that OPEC will not pump enough oil to satisfy demand for fuel this winter. During trading on Wednesday, oil hit an intraday high of $80.18 before closing the day at $79.91, an all time high.
"Domestic oil and gas companies are all we can depend on as American consumers" commented Billy Raley when asked about the current state of OPEC. Raley continued "Domestic oil prospects like Universal's Caviar prospect are increasingly more vital as our country must continue to 'beg' for more oil from foreign sources."
Caviar Prospect
Oil and gas production surrounding the Caviar prospects from the objective sand sections is impressive. These fields are: East Point a la Hache, 1.5 miles to the southeast, 13.9 billion cubic feet equivalent ("BCFE"); Pointe a la Hache, 3 miles to the southwest 175 billion cubic feet ("BCF") and 15 million barrels of oil ("MMBO"); Delacroix Island Field, 3.5 miles to the northwest, 230 BCF and 24 MMBO; and E. Crooked Bayou Field, 4 miles to the northeast, 8 BCFE.
The Caviar 3-D Package is a multi-well, amplitude supported exploration project located in the shallow inland waters of Plaquemines Parish, Louisiana. The four 3-D prospects, which are located within 5 miles of each other, are normal pressured, Middle Miocene (Cib-Carst, Tex-W) tests with objectives between 9,000' and 11,000'.
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
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September 12, 2003 - Universal Energy Corp. Completes Production Casing at Amberjack Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) announced today that over the past week extensive open hole electronic data logging of the Amberjack well has been completed. These procedures were carried out in anticipation of well completion, production gas flows and tie-in.
Based on the electronic data logs, and with the recommendation of industry experts, the decision was made to install production casing at the Amberjack prospect (well SL 18514 No. 1).
"We are excited by the initial findings from drilling," stated Billy Raley, CEO of Universal Energy Corp. Raley continued, "Initial indications persuade us that we have a wonderful multiple zone oil and gas well at Amberjack."
The operator will now perforate and test selected intervals displayed on open whole logs to test pay sands between depths of approximately 10,100 to 10,300 feet for an estimated total of 46 feet of probable production.
The final testing, which is planned to take a few weeks, will determine the estimated daily gas and oil production volumes and total reserves. These final steps of production testing will be used to maximize production. The well should be producing oil into tanks within weeks.
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and throughout Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
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September 11, 2007 - Universal Energy Corp. Enters into Financing Agreement
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) announced today that it has received commitments for a private placement with institutional and other accredited investors resulting in minimum gross proceeds of $3.4 million. The company will use the proceeds of the offering towards further development of the company's current drill program, general corporate purposes and investor relations.
On September 10, 2007, Universal Energy Corp. signed private placement documents for $4,250,000 principal amount of amortizing senior secured convertible debentures. The issuance of the debentures generated $3,400,000 in gross proceeds. In connection with this financing, the company has agreed to file registration statements with the Securities and Exchange Commission registering on behalf of the purchasers the resale of all or such maximum portion of the shares of common stock, issuable upon conversion of the debentures and the exercise of the warrants, as permitted pursuant to Securities and Exchange Commission guidance regarding offerings made on a continuous basis pursuant to Securities and Exchange Commission Rule 415.
Investment banking services were provided by the San Francisco office of Empire Financial Holdings (EFH).
Dyron M. Watford, Chairman and CFO of Universal Energy Corp. remarked, "This transaction represents a significant event for Universal Energy Corp. and reflects the growing recognition of the potential of the company's oil and gas prospects. The proceeds from this financing will allow Universal to continue the expansion of its oil and gas operations."
Additional details regarding the financing will be included in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and throughout Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
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September 6, 2007 - Universal Energy Corp. Strikes Gas Deposit on its First Well at the Amberjack Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to notify investors that drilling at the Amberjack prospect has reached its planned total vertical depth of 10,600 as of this morning. "This marks an important day for Universal. We are pleased that drilling has now been completed," commented Billy Raley, Universal Energy Corp. CEO.
The objectives of the well as defined by 3-D seismic are gas zones with total potential reserves of 10.3 billion cubic feet equivalent of gas. These objectives are located between 10,200 and 10,600 feet. During the drilling process, as expected, gas was encountered at the depths defined by 3-D seismic.
Currently, the well is being tested using electronic measures to fully determine what amount of pay will be realized from the well. "Proving up our reserves is an important and vital step to the success of Universal," commented Billy Raley. Raley concluded, "Our results from the drilling are sooner and better than anticipated."
Commenting on the drilling results Dyron Watford, CFO of Universal Energy Corp. stated, "Our ability to drive revenue from this prospect beginning this year is exciting."
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and throughout Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
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September 6, 2007 - Universal Energy Corp. Encounters Gas at Amberjack Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to give an update on drilling operations on well SL 18514 No. 1 in Plaquemines Parish, Louisiana. As of yesterday, drilling operations were at a depth of 10,340 feet. The total vertical depth of the well is planned to be 10,600 feet.
As previously released, the main objectives of the approximately 840-acre Amberjack prospect are the Lower Big-H, Big H and UL-4 sands. The greatest strength of the Amberjack prospect lies in the geophysical interpretation which demonstrates a 90 acre UL-5 amplitude anomaly of exceptional quality. Anomalies present on the 3-D seismic imaging are the same type of high amplitude, low frequency, trough-peak geophysical events witnessed over other UL-5 significant reservoirs in the area.
During drilling activities yesterday, the drill rig encountered a pressured gas zone at the same depth as defined by 3-D seismic imaging for the UL-4 sand, approximately 10,250 feet. Drilling from the UL-4 sand down to the Big H sand at 10,500 feet and the Lower Big-H sand at 10,600 feet is being completed this morning.
"We are excited about the results and believe that this demonstrates our 3-D seismic prospects are sound," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "The Company has known for some time that the quality of our prospects is as good as it gets in this business."
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and throughout Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
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September 4, 2007 - Universal Energy Corp. Announces Progress of Drilling Program
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) announced today that drilling operations on the SL 18514 No. 1 in Plaquemines Parish, Louisiana were progressing well. As of yesterday, the depth of drilling was below 9,600 feet toward the Lower Big-H, Big-H and UL-4 objectives between 10,200 and 10,600 feet.
"Amberjack is progressing ahead of schedule," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "The same drill rig being used at Amberjack will drill Caviar #1 upon completion of drilling at Amberjack. Universal's drilling program is full steam ahead."
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and throughout Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
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August 28, 2007 - Universal Energy Corp. Provides Drilling Report Update on SL 18514 No. 1
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) announced yesterday that drilling operations have recently commenced on the SL 18514 No. 1. The well is currently drilling below 3,000 feet toward the targeted depth of 10,600 feet in order to evaluate the productive potential of a number of formations including the Lower Big-H, Big-H and UL-4.
Surface casing was set to 2,780 feet and all of the appropriate tests were run without incident. The purpose of surface casing is to protect any shallow zones from commingling with any of the fluids used in the drilling process. The formations to be tested by the initial well have proven undeveloped reserves of 10.3 billion cubic feet equivalent ("BCFE") of gas.
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and throughout Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings
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August 2, 2007 - Universal Energy Corp. Acquires High Impact 3-D Prospect in Cameron Parish, Louisiana
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) is pleased to announce the successful acquisition of a 17.5 percent interest in the East OMG prospect in Southwestern Louisiana. The East OMG prospect covers an area of 923 acres.
About the East OMG Prospect
The East OMG 3-D prospect is located in Cameron Parish, Louisiana. Wells adjacent to the prospect have produced outstanding returns such as Chalkley Miogyp field and S. Lake Arthur, which have cumulative production of 500 billion cubic feet equivalent ("BCFE") and 800 billion cubic feet, respectively. Production from the adjacent wells listed above is from the same Upper Miogyp sandstones that are the main objective of the East OMG Prospect. The combined reserve potential of the four principal objective sandstones that comprise the East OMG prospect is estimated to be greater than 59 BCFE. The project will be drilled during the fall of 2007.
"We continue our model of growth through the drill bit," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "The positive impact we expect this prospect to have for the company and its stockholders is extraordinary."
"East OMG by itself has the potential of delivering average annual cash flow of $0.20 per share for the next three years," commented Dyron Watford, CFO of Universal Energy Corp. Watford added, "With the financial impact of this prospect for Universal, its no wonder we affectionately refer to the play as Oh My Goodness ("OMG")." Watford concluded, "When added with our Amberjack, Caviar and Lake Campo prospects, our earnings power is truly enviable."
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and throughout Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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July 31, 2007 - Universal Energy Corp. Announces Site Preparation of Caviar 1 Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE.OB - News) announced, today, that well site preparation has commenced on the Caviar 1 prospect located in Plaquemines Parish, Louisiana. This prospect is scheduled to be drilled following the completion of drilling at their Amberjack prospect. Drilling at the Amberjack is scheduled to begin in the next two weeks.
Oil and gas production surrounding the Amberjack and Caviar prospects from the objective sand sections is impressive. These fields are East Point a la Hache, 1.5 miles to the southeast, 13.9 billion cubic feet equivalent ("BCFE"); Pointe a la Hache, 3 miles to the southwest 175 billion cubic feet ("BCF") and 15 million barrels of oil ("MMBO"); Delacroix Island Field, 3.5 miles to the northwest, 230 BCF and 24 MMBO; and E. Crooked Bayou Field, 4 miles to the northeast, 8 BCFE.
"We are very proud of our portfolio of oil and gas prospects that we are drilling over the next few months," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "Continued growth through the drill bit is the path to success for the company and its stockholders."
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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July 11, 2007 - Universal Energy Corp. Comments on Recent Surge in Oil Prices
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE.OB - News) commented, today, on the recent surge in oil prices. As of yesterday, crude oil futures climbed above $73 a barrel before settling the day at $72.81, their highest point since last August.
Billy Raley, CEO of Universal Energy Corp. stated, "Make no mistake that the American consumer is bearing the financial burden for the unrest throughout countries that we import oil from." Oil prices have escalated recently due to continued unrest in Nigeria, Africa's largest producer. Prices escalated further based on a report issued Monday by the International Energy Agency which said "oil looks extremely tight in five years time" and there are "prospects of even tighter natural gas markets at the turn of the decade."
Raley continued, "The snatch and grab mentality of certain countries electing to nationalize energy supplies is a clear indication as to the state of the industry. If we can't do better as an industry close to home, we will continue to be at the mercy of others."
Universal Energy Corp. is currently in a summer drilling program that includes their Amberjack, Lake Campo and Caviar prospects in Louisiana.
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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July 9, 2007 - Universal Energy Corp. Announces Site Preparation Schedule for Lake Campo Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE - News) announced, today, that site preparation is scheduled to begin in approximately three weeks for drilling at the Lake Campo Field prospect in Louisiana.
Billy Raley, CEO of Universal Energy Corp., said "It's very exciting to see our summer drilling program become reality. With the progress at Amberjack and the site prep work commencing on Lake Campo Field, with all its positive prospects, we are anticipating good results from our U.S. ground assets."
The Lake Campo Field prospect is located 23 miles Southeast of New Orleans in the shallow inland waters of Plaquemines Parish. Within this low risk prospect, recent 3-D seismic testing has determined ten high quality targets, regionally consistent with earlier wells in the area that have been prolific producers for decades.
CEO Raley continued, "Drilling programs at the Lake Campo, Amberjack, and Caviar prospects in Louisiana along with our Pembina prospect in Alberta exemplifies what our business plan is all about - helping to reduce U.S. dependence on foreign oil by exploring oil and gas resources close to home. We are very happy to see the drilling preparation underway."
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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June 28, 2007 - Universal Energy Corp. Extends Working Interest Agreement in Prolific Pembina Nisku Area
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE.OB - News) after announcing the impending spud of Louisiana drilling projects earlier this week; released, today, that it has extended the agreement for the drilling and production of the Pembina Nisku Reef Project in the prolific oil fields of Alberta, Canada
Billy Raley, CEO of Universal Energy Corp., said "The extension of the Nisku Reef Project agreement through November 15, 2007 will allow us to evaluate additional participation at our optimum drilling locations. The cumulative production of offsetting wells located within a few miles of our prospect indicates the enormous potential for this property."
"We believe the geological formation directly traversing to the southwest and the northeast of our property that has averaged 12 million barrels of oil and 45 billion cubic feet of gas continues throughout our property," Raley added. Based on a 160-acre spacing program, Universal has the opportunity to drill up to 3 wells pursuant to this agreement.
Dyron Watford, CFO of Universal Energy Corp. added, "With the positive activity at our Louisiana drilling sites and the expectations of high flow rates from our current summer drilling programs, Universal anticipates excellent potential for significant future cash flows from our land assets." Watford concluded, "With favorable pricing for light crude oil from this Pembina Nisku region, we are also very excited about the tremendous opportunity this agreement represents for our company and our stockholders."
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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June 25, 2007 - Universal Energy Corp. Announces Expected Spud Date on the Amberjack Prospect
HOUSTON / PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE.OB - News) is pleased to announce that the operator of our Amberjack prospect has informed us that the expected spud date for the prospect is July 2, 2007. The main objectives of the approximately 840-acre Amberjack prospect are the Lower Big-H, Big H and UL-4 sands that have proven undeveloped reserves of 10.1 BCFE.
The greatest strength of the Amberjack prospect lies in the geophysical interpretation which demonstrates a 90 acre UL-5 amplitude anomaly of exceptional quality. This anomaly is the same type of high amplitude, low frequency, trough-peak geophysical event witnessed over the other UL-5 reservoirs in the area. The amplitude anomaly fits the structural picture and displays the highest amplitude near the crest of the structure, two characteristics which are excellent gas indicators. Also, the seismic gather data displays an AVO anomaly in the prospective amplitude consistent with the AVO's seen in other highly productive fields in the area.
Company CEO Billy Raley stated, "We are pleased to keep our stockholders informed as to the progress of the Amberjack prospect. It's truly wonderful to hear how excited they are about our upcoming summer drilling schedule." Raley continued, "while Amberjack is a stellar prospect -- the great news for Universal and our stockholders is that it's just the beginning."
About Universal Energy Corp.
Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana. Visit http://www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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June 22, 2007 - Universal Energy Corp. Calls for Increased Efforts in Domestic Drilling as Global Oil Demand Continues to Rise
HOUSTON / PRNewswire-FirstCall
In a statement today, Universal Energy Corp. (OTC Bulletin Board: UVSE.OB - News) issued a positive progress report, on its three domestic summer drilling projects underway in the prolific Plaquemines Parish region of Southeastern Louisiana. These sites, as well as Universal's prospective drilling locations at its Nisku Reef Project in the oil-rich region of Alberta, Canada have become more significant since the International Energy Agency's Report on rising oil demand was issued earlier this month.
"World oil demand is rising faster than previously expected while non-OPEC supply is growing more slowly," the International Energy Agency was quoted in a June 12, 2007 article in FT.com Financial Times.
The IEA's high profile emphasis on the immediate need for more domestic oil activity has been supported by scientists and analysts in a variety of reports released this month.
Citing references from BP's Statistical Review of World Energy, an article in The Independent Newspaper on June 14, 2007 stated, "Scientists have criticized a major review of the world's remaining oil reserves…" The article continues, "Two-thirds of the world's oil reserves lie in the Middle East and increasing demand will have to be met with massive increases in supply…"
In light of these reports of growing demand for domestic oil production and recent political threats by Iran to cut off their oil production to the U.S., domestic drilling prospects now become even more essential for the future of the American oil supply.
Billy Raley, CEO of Universal Energy Corp. commented, "Recently it has become clear, that our company's Louisiana-based Amberjack Prospect is entering its drilling stage at an opportune time in the market. Producing crude oil on our home turf is increasingly more important as new threats to supply disruption and reduction appear daily." Raley continued, "I am convinced, and the recent scientific reports substantiate, that our nation's future energy needs and economy depend on continued discovery and extraction of oil and gas, right here in the U.S. and North America. Universal Energy Corp. wants to lead that charge."
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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June 22, 2007 - StockGuru.com Announces Profile Coverage of Universal Energy Corp.
DALLAS / PRIME NEWSWIRE
John Pentony, Publisher of StockGuru.com, announced today that the web site has initiated Profile Coverage of Universal Energy Corporation (OTC BB:UVSE.OB - News). Universal Energy Corporation is an independent diversified energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. Their prospect areas consist of land in Alberta, Canada and Southeastern Louisiana. With two energy business subsidiaries, Universal Explorations Inc. and Universal Energy Services Inc., the company pursues oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise.
Universal invests in prolific areas within the United States and Canada by acquiring low risk in-field oil and gas rights that offset existing production. The Louisiana prospects the company is currently drilling this summer, include properties that contain proven but undeveloped reserves analyzed by 3-D Seismic surveys and other research techniques to help lower drilling risks.
To view the StockGuru.com Profile for Universal Energy Corporation, please visit: http://www.stockguru.com/profiles/uvse
About StockGuru.com - StockGuru.com features daily alerts going out three times daily to members. To join our email alert list, please visit: http://www.stockguru.com/stocks.htm
To feature your publicly traded company in our alerts, or to discuss our complete services, please contact: John Pentony at (469) 252-3031 or email publisher@stockguru.com. Our services include our Morning, Midday, and After The Bell news releases. Additionally, we profile publicly traded companies on our web site, we do interviews with CEOs or other key executives on our web site, and we have our financial writers cover our companies.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Disclosure: Pentony Enterprises LLC has been compensated $15,000 directly from the company for profile coverage. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
Contact: StockGuru.com
John Pentony, Publisher
(469) 252-3031
Publisher@stockguru.com
Source: StockGuru.com; Universal Energy Corporation
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June 20, 2007 - Universal Energy Corp. Drilling Gains Significance as Iran Issues Threats
HOUSTON, TX - PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE.OB - News) announced today final plans for the company's aggressive summer drilling program that has gained market significance due to recent negative developments in U.S. relations with Iran and OPEC.
Earlier this week, the company announced site preparation at the Louisiana Amberjack prospect and plans to spud the well within the next two weeks. Two additional domestic drilling programs will be underway this summer at the Lake Campo and Caviar prospects, also in Louisiana.
In light of two recent political developments, domestic drilling prospects now become even more essential for the future of the American oil supply. Yesterday, Iran issued a threat to cut off oil exports to the U.S. in retaliation of U.S. Government demands that they cease nuclear testing. In Washington, Congress has been working to pass legislation that will allow the U.S. to sue the OPEC oil producers for price manipulation. Both actions would drive up oil prices, decisively, over the current nine-month highs, and immediately reduce supply.
In an interview on Tuesday with the Iranian Newspaper, Sharq; Iran's OPEC Governor, Hossein Kazempour Ardebili stated "Definitely, the market will be faced with a new shock and oil prices will increase strongly". The quote came during a question regarding the impact of Iran ceasing oil exports to the United States.
Billy Raley, CEO of Universal Energy Corp., stated, "it is reality that domestic oil and gas producers are becoming increasingly more important as tensions in the Middle East continue to escalate." Raley continued, "As a country, our future energy needs depend on continued discovery and extraction of oil and gas, right here in the United States. Our company is committed to helping make that happen."
Universal invests in prolific areas within the United States and Canada by acquiring low risk in-field oil and gas rights that offset existing production. The Louisiana prospects the company is currently drilling this summer, include properties that contain proven but undeveloped reserves analyzed by 3-D Seismic surveys and other research techniques to help lower drilling risks.
About Universal Energy Corp. - Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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June 18, 2007 - Universal Energy Corp. and Partners Preparing for Spud of Amberjack Prospect
HOUSTON, TX - PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE.OB - News) announced, today, that well site preparation has commenced on the Amberjack prospect located in Plaquemines Parish, Louisiana. Based on the exceptional progress at the site, we project the spud date within the next two weeks. The project targets multiple Middle Miocene sands on a well defined structural closure. The combined potential reserves for this prospect are 10.1 BCFE.
The fields surrounding the Amberjack Prospect have produced vast quantities of oil and gas from the objective sand section in numerous fault blocks. These fields are East Point a la Hache, 1.5 miles to the southeast, 13.9 BCFE; Pointe a la Hache, 3 miles to the southwest 175 BCF and 15 MMBO; Delacroix Island Field, 3.5 miles to the northwest, 230 BCF and 24 MMBO; and E. Crooked Bayou Field, 4 miles to the northeast, 8 BCFE.
"The excitement surrounding this prospect is well warranted," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "Amberjack looks to be just the beginning of a magnificent summer drilling program."
About Universal Energy Corp. -- Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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May 9, 2007 - Universal Energy Corp.'s Rapid Growth Initiative Continues With Another Significant Oil and Gas Project
ORLANDO, Fla.-PRNewswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE), following its business plan for the rapid expansion of its oil and gas business, has entered into a participation agreement for another significant oil and gas prospect in Southeastern Louisiana.
Known as Lake Campo, this 3-D prospect has proven but undeveloped reserves that are located in the prolific Middle Miocene Trend, which stretches across most of Southeast Louisiana. This low risk prospect targets ten high quality, regionally consistent Miocene age sand objectives.
Billy Raley, CEO of Universal Energy Corp. commented, "This agreement with Yuma Exploration and Production Company has strengthened our land portfolio. The level of experience and working history of YUMA and their personnel has really impressed us."
Drilling is scheduled to begin on this project within the next 60 days to achieve wells around the 10,500-foot depth. This prospect is located in a proven oil-rich area of the United States through the abundant well control and the production history of the wells in the immediate area.
"Adding this quality prospect at Lake Campo to our increasing land portfolio continues Universal's business plan of rapidly expanding our oil and gas business," Raley added.
About Universal Energy Corp. -- Universal Energy Corp. is a diversified energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana. Visit http://www.universalenergycorp.info for more details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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April 12, 2007 - Universal Energy Corp. Expands Oil and Gas Business
Orlando, Florida-PR Newswire-FirstCall
Billy Raley, CEO of Universal Energy Corp. (OTC Bulletin Board: UVSE - News) announced, today, that it has signed a participation agreement to expand the oil and gas exploration and production segment of the company into Southeastern Louisiana.
"The signing of this agreement with YUMA Exploration and Production Company, Inc. on their Caviar prospect continues our growth strategy to acquire low risk in-field oil and gas rights that offset existing production. We are very impressed with the experience and working history of YUMA," Raley commented.
The Caviar site lies in the prolific Middle Miocene Trend, which is located in the Plaquemines Parish of Southeastern Louisiana. Drilling is scheduled to begin on this project this summer to achieve wells between 9,000 and 11,000 feet deep. The potential in this oil-rich area of the United States is very positive, based on the production history of existing wells in the area.
"This agreement with YUMA on the Caviar Project teams us with a leader in the oil and gas business that brings many years of experience to the table. It not only supports our growth strategy for Universal, but it also expands our operations into another proven oil and gas production area," Raley added. "We are excited to be partnering with YUMA Exploration and Production Company."
About Universal Energy Corp. -- Universal Energy Corp. is a diversified energy company currently focused on oil and gas exploration. Universal's current focus is on the exploration of its land portfolio comprised of a working interest in highly prospective acreage in Alberta, Canada and Southeastern Louisiana. Corporate growth strategy includes acquisition and operation of allied energy services companies to diversify and strengthen financial position. Go to www.universalenergycorp.info for details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp
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February 5, 2007 - Universal Energy Corp. Second Acquisition Strengthens Diversification
Orlando, Florida-PR Newswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVEC-News) announced, today, the acquisition of Williston Crane LLC, a Florida-based energy services provider.
The letter of intent to purchase Williston Crane is the second in a series of recent agreements targeted in Universal Energy’s aggressive growth and diversification strategy to continue strengthening its corporate structure.
Universal’s intent to purchase PowerTown Line Construction was announced in late January with an estimated closing date of six weeks. Both of these companies currently provide services associated with Universal’s long-term growth plan and fit well with the increasing demands of the market.
“We have signed a letter of intent for the purchase of Williston Crane LLC,” commented Billy Raley, CEO of Universal. “ And we continue to investigate additional companies to purchase in keeping with our strategy of diversification and continued strengthening of our corporate financial position.”
Williston Crane LLC provides heavy equipment used in the maintenance and construction industry.
The president of Williston Crane, Marc Nussel, commented about the impending sale, “we are excited to join forces with a rapidly growing public company like Universal Energy”.
“This second acquisition keeps us on track with our business growth and development plan.” stated Dyron Watford, Universal CFO. “ We continue to target companies for acquisition like Williston Crane and PowerTown that we expect to be immediately accretive to our corporate earnings.”
About Universal Energy Corp.—Universal Energy Corp. is a diversified energy company currently focused on oil and gas exploration. Universal’s current focus is on the exploration of its land portfolio comprised of a working interest in highly prospective acreage in Alberta, Canada. Corporate growth strategy includes acquisition of allied energy services companies to diversify and strengthen financial position. Go to universalenergycorp.info for details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company’s future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company’s control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements and filings.
Source: Universal Energy Corp
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January 24, 2007 - Universal Energy Corp. Diversifies Through Acquisition of First Services Company
Orlando, Florida-PR Newswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVEC-News) announced today the first acquisition of an energy services company as part of the corporate growth and diversification strategy.
“A letter of intent has been signed for the purchase of PowerTown Line Construction, a Florida corporation based in St. Petersburg,” commented Billy Raley, CEO of Universal. “The sale should be final in about six weeks.”
“Our Corporate growth structure included the addition of energy services companies, such as PowerTown to display strong top line growth and cash flows.” He continued. “This acquisition meets that requirement and was a good fit with our strong energy-business management expertise.”
PowerTown Line Construction provides installation, maintenance and replacement for the power lines used in the transmission and distribution of energy to the end users. The president of PowerTown is Steve Townsend.
“With this first acquision, we continue to build our corporate structure, add income and financial diversification, while owning and profiting from the services we will need on a day-to- day basis. It’s just a very positive business move forward in our growth strategy of diversification,” stated Dyron Watford, Universal CFO.
About Universal Energy Corp.—Universal Energy Corp. is a diversified energy company currently focused on oil and gas exploration. Universal’s current focus is on the exploration of its land portfolio comprised of a working interest in highly prospective acreage in Alberta, Canada. Corporate growth strategy includes acquisition of allied energy services companies to diversify and strengthen financial position. Go to universalenergycorp.info for details.
Safe Harbor Statement
All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company’s future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company’s control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements and filings.
Source: Universal Energy Corp
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January 18, 2007 - Universal Energy Corp. Announces New Advisory Board Member
Orlando, Florida-PR Newswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVEC-News) announced, today, the addition of Zen Buss, a distinguished Professional Engineer, to the recently formed Advisory Board.
Created in December, the new Advisory Board is providing strategy formulation, guidance and decision-making support to assist Universal Energy’s executive management and Board of Directors in growing the business.
CEO, Billy Raley welcomed his newest Advisory Board member and commented, “we appreciate Zen’s extensive knowledge of Geology, learned over many years of hands-on experience, and his successful record of helping to identify oil and gas potential. His advice will be well-received.”
Zen Buss has a degree in Petroleum Engineering from the University of Tulsa, a degree in Hydrocarbon Engineering Technology from Northern Alberta Institute of Technology in Edmonton, Alberta and is a Professional Engineer in the Province of Alberta, Canada.
His 30 years of experience includes service with Penn West Energy Trust/Petrofund Energy Trust, Alberta Energy and Utilities Board, Advanced Energy Management, Inc. and Indian Oil and Gas Canada.
Coupled with his experience working for both public and private oil and gas companies, Zen has proven his ability to locate significant “company making” ideas/opportunities that have proven successful for development.
He resides in Calgary with wife, Christene and teenagers, Kyle and Kassandra.
Mr. Buss joins recently appointed Advisory Board members, Derek J. Gillespie, an expert in the acquisition and interpretation of geophysical data used in the search for commercial accumulations of hydrocarbons, and Peter Forrest, whose experience focuses on oil and gas wire line services.
About Universal Energy Corp.—Universal Energy Corp. is a diversified energy company currently focused on oil and gas exploration. Universal’s current focus is on the exploration of its land portfolio comprised of a working interest in highly prospective acreage in Alberta, Canada. Go to universalenergycorp.info for details.
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as “expects”, “intends”, “plans”, “may”, “could”, “should”, “anticipates”, “likely”, “believes” and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including but not limited to, the Company’s belief that Universal Energy Corp. can identify and successfully negotiate leases for oil and gas properties in North America, and that the Company can participate in the exploration of those properties. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.
Source: Universal Energy Corp.
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Dec. 19, 2006 - Universal Energy Corp. Announces Creation of Advisory Board
ORLANDO, Fla., Dec. 19 /PRNewswire-FirstCall/ -- Universal Energy Corp. (OTC Bulletin Board: UVEC - News) is pleased to announce that it has formed an Advisory Board. The Advisory Board will provide strategy formulation, guidance and decision-making support to assist Universal Energy's executive management and Board of Directors in growing the business.
"We are thrilled to have direct access to their expertise. The knowledge and experience of this group is truly impressive by any standard," said Billy Raley, CEO, Universal Energy Corp. in announcing the formation of the Advisory Board and the appointment of its first two members Derek J. Gillespie and Peter Forrest.
Derek J. Gillespie has over 30 years experience in oil and gas exploration and development. After obtaining a degree in Engineering Science from the University of Toronto, his career has included assignments in Canada and internationally with Amoco (now BP) and Hunt Oil Company of Dallas, Texas. Mr. Gillespie is currently an independent consultant specializing in the acquisition and interpretation of geophysical data used in the search for commercial accumulations of hydrocarbons.
His consulting practice has provided advice to clients in Canada and the United States, Southeast Asia and Africa. Mr. Gillespie is a registered Professional Engineer in the Province of Alberta, Canada and makes his home in Calgary.
Peter Forrest has over 40 years in the resource business. During the past five years Mr. Forrest has focused on the oil and gas wire line services. Mr. Forrest provides project management skills to prospect evaluations, corporate matters, lease acquisitions, lease presentations, negotiations, contracting specialists and other related matters.
During his career, Mr. Forrest has been involved in the field supervision of large open pit mining operations, project engineering and management roles both internationally and in Canada. He has worked for the Alberta Energy Utilities Board, metal mines, oil sand operations and coalmine operations engineering. Throughout his career, Mr. Forrest has had a keen interest in operational research projects, field-testing products and resolving problems using innovative ideas and products by recognizing applications across various industries.
Mr. Forrest and his wife Joanna live in Calgary.
About Universal Energy Corp. -- Universal Energy Corp. is a diversified energy company currently focused on oil and gas exploration. Universal's current focus is on the exploration of its land portfolio compromised of a working interest in highly prospective acreage in Alberta, Canada.
Forward-Looking Statements
Statements in this news release that are not historical facts are forward- looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that Universal Energy Corp. can identify and successfully negotiate leases for oil and gas properties in North America, and that the Company can participate in the exploration of those properties. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.
Source: Universal Energy Corp.
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Dec. 7, 2006 - Universal Energy Corp. Announces Completion of 3-D Seismic Program at Pembina Nisku Reef
ORLANDO, Fla., Dec. 7 /PRNewswire-FirstCall/ -- Universal Energy Corp. (OTC Bulletin Board: UVEC - News; the "Company" or "Universal") is pleased to report that the 3-D seismic program at their Pembina Nisku Reef project has been completed. Management will immediately begin to review the data in order to identify specific drilling targets. The first of several potential drill targets identified from the seismic program is expected to be drilled by the second quarter of 2007.
"The completion of the seismic program at our Pembina Nisku Reef project is a very exciting step for Universal Energy toward our goal of developing this land," says Universal CEO Billy Raley. "The upside at Pembina Nisku Reef is considerable as the initial review of seismic data indicates three potential drilling sites." Mr. Raley continued by saying, "Continuing production from adjacent and offsetting wells provides additional support for our enthusiasm."
The Pembina field is the largest oil and solution-gas field in Canada, both in reserves and area. It has an area of 755,000 acres. The field, discovered in 1953, contained approximately 1.6 billion barrels of recoverable oil and 1.2 trillion cubic feet of solution gas.
About Universal Energy Corp. -- Universal Energy Corp. is a diversified energy company currently focused on oil and gas exploration. Universal's current focus is on the exploration of its land portfolio compromised of a working interest in highly prospective acreage in Alberta, Canada.
Safe Harbor Statement
All statements other than statements of historical fact included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Source: Universal Energy Corp.
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Sept. 28, 2006 - Universal Energy Corp. Acquires Working Interest in Prolific Pembina Nisku Area
Orlando, Florida (PR Newswire/First Call) – September 28, 2006 – Universal Energy Corp. (OTCBB: UVEC) announced today that it has closed an agreement to acquire a 95 percent (95%) working interest in land located in the Pembina Nisku area in Alberta, Canada. This announcement follows our September 14, 2006 announcement of a Letter of Intent to acquire this property.
Mr. Billy Raley, CEO of Universal Energy Corp., said “the cumulative production of offsetting wells located within a few miles of our property indicates the enormous potential for this property. We believe the geological formation directly offsetting to the southwest and the northeast of our property that has averaged 12 million barrels of oil and 45 billion cubic feet of gas continues throughout our property.” Based on a 160-acre spacing program, Universal has an opportunity to drill up to 3 wells pursuant to this agreement.
The wealth of petroleum reserves recovered in Alberta, Canada is well documented. Oil was first discovered in the Pembina Nisku region more than 30 years ago, but recent advancements in 3-D seismic imaging has allowed geologists to better target drill locations, increasing the likelihood of a successful drilling program. In the Pembina Nisku area, an aquifer located below hydrocarbons applies upward pressure, and as a result, any wells hitting petroleum experience high production rates.
Mr. Raley concluded, “The combination of high flow rates and favorable pricing for light crude oil recovered from Pembina Nisku region gives Universal Energy Corp. excellent potential for significant future cash flows. We are very excited about the tremendous opportunity we believe this agreement represents for our company and our stockholders.”
About Universal Energy Corp. - Universal Energy Corp. is a diversified energy company currently focused on oil and gas exploration. Universal’s current focus is on the exploration of its land portfolio compromised of a working interest in highly prospective acreage in Alberta, Canada.
Safe Harbor Statement
All statements other than statements of historical fact included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.
CONTACT:
Universal Energy Corp.
Billy Raley, CEO, 407-804-0548
braley@universalenergycorp.info
Source: Universal Energy Corp.
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Sept. 22, 2006 - Universal Energy Corp. CEO Outlines Strategic Initiatives
ORLANDO, Fla., Sept. 22 /PRNewswire-FirstCall/ -- Mr. Billy Raley, newly appointed CEO of Universal Energy Corp. ("Universal" or the "Company) (OTC Bulletin Board: UVEC.OB - News), states that Company management "has analyzed its business plan and as a result has presented to its Board of Directors several strategic initiatives designed to maximize stockholder value and to position Universal Energy Corp. as a diversified energy company currently focused on oil and gas exploration."
Mr. Raley was hired in September 2006 for his expertise in the operation and development of energy companies. Mr. Raley served as the Regional Vice President for Progress Energy Florida, Inc. as well as Vice President of Transmission for Carolina Power & Light prior to joining Universal. Mr. Raley's background is comprised of over 25 years of electric utility industry experience, including expertise in the areas of Transmission and Distribution Operations, Construction and Maintenance, and Nuclear Generation.
Universal recently signed a Letter of Intent with a privately held Alberta company for the farmin and participation of certain lands located in north central Alberta. The Company anticipates that this transaction will close in the next seven days.
Mr. Raley concluded, "Our aggressive acquisition is clearly demonstrated with our signing of a Letter of Intent. Participating in higher return exploration opportunities like this combined with a disciplined approach of investing in lower risk development drilling will allow us to cost effectively manage our growth and to create the largest return to our stockholders. We believe we have the vision, the people and the technology to do just that."
About Universal Energy Corp. - Universal Energy Corp. is a diversified energy company currently focused on oil and gas exploration.
Safe Harbor Statement
All statements other than statements of historical fact included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated
Source: Universal Energy Corp. |
