Universal Energy Corp. Encounters Gas at Amberjack Prospect
Posted on: Thursday, 6 September 2007, 09:11 CDT
HOUSTON, Sept. 6 /PRNewswire-FirstCall/ -- Universal Energy Corp. (BULLETIN BOARD: UVSE) 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 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.
CONTACT: Universal Energy Corp. Billy Raley, CEO, (800) 975-2076 braley@universalenergycorp.info
Universal Energy Corp.
CONTACT: Billy Raley, CEO of Universal Energy Corp., +1-800-975-2076,braley@universalenergycorp.info
Web site: http://www.universalenergycorp.info/
Source: PRNewswire-FirstCall
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