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Universal Energy Corp. Expands Drill Ready Portfolio With Acquisition of High Impact Prospect in Galveston Bay, Texas

Posted on: Wednesday, 19 September 2007, 09:02 CDT

HOUSTON, Sept. 18 /PRNewswire-FirstCall/ -- Universal Energy Corp. (BULLETIN BOARD: UVSE.OB) , 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 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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