Universal Energy Corp. Continues Drilling Program With Record Week of Drilling Operations
Posted on: Thursday, 18 October 2007, 09:00 CDT
HOUSTON, Oct. 18 /PRNewswire-FirstCall/ -- Universal Energy Corp. (BULLETIN BOARD: UVSE) 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 http://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.
CONTACT: Universal Energy Corp. Billy Raley, CEO, (800) 975-2076 braley@universalenergycorp.infoUniversal 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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