Universal Energy Corp. Announces Drilling Update #1 on Lone Oak Prospect in Texas As Oil Prices Skyrocket Toward $150 Per Barrel
Posted on: Monday, 9 June 2008, 12:00 CDT
HOUSTON, June 9 /PRNewswire-FirstCall/ -- Universal Energy Corp. (BULLETIN BOARD: UVSE) , an emerging U.S. oil and gas exploration and production company, announced today that preparations at the Lone Oak prospect are complete and drilling began Thursday, June 5, 2008, at its Lone Oak prospect. Drilling continues at an excellent pace as total depth of the well has reached 2,655 feet.
"The oil and gas amounts produced from this region are outstanding," commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued, "With each day that passes, it becomes more important for domestic exploration and production companies, whether large or small, to effectively generate reserves for US consumers."
Universal Energy Corp. is a publicly traded (BULLETIN BOARD: UVSE) energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States. 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 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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