Universal Energy Corp. Begins Oil Production at Its Amberjack Prospect and Reaffirms Guidance of First Quarter 2008 Profitability
Posted on: Wednesday, 12 December 2007, 09:00 CST
HOUSTON, Dec. 12 /PRNewswire-FirstCall/ -- Universal Energy Corp. (BULLETIN BOARD: UVSE) , 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 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.info
Universal Energy Corp.
CONTACT: Billy Raley, CEO, Universal Energy Corp., +1-800-975-2076,braley@universalenergycorp.info
Web site: http://www.universalenergycorp.info/
Source: PRNewswire-FirstCall
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