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Universal Energy Corp. Begins Drilling at Caviar #1 Well As Oil Prices Hit Record Highs

Posted on: Thursday, 13 September 2007, 09:00 CDT

HOUSTON, Sept. 13 /PRNewswire-FirstCall/ -- Universal Energy Corp. (BULLETIN BOARD: UVSE.OB) 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 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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