Universal Energy Corp. Announces That Pipeline Construction at Its Caviar Prospect Is Ahead of Schedule
Posted on: Wednesday, 11 June 2008, 09:00 CDT
HOUSTON, June 11 /PRNewswire-FirstCall/ -- Universal Energy Corp. (BULLETIN BOARD: UVSE) , an emerging U.S. oil and gas exploration and production company, announced today that the pipeline construction and barge installation at the Caviar series of wells in Plaquemines Parish, Louisiana is ahead of schedule. Both the Caviar #1 and Caviar #4 wells are expected to be in full production as of July 1, 2008.
"The recent financing we completed helped to finish paying for our costs of the Caviar pipeline," commented Dyron Watford, Chief Financial Officer of Universal Energy Corp. Watford continued, "It's clear that our operations are on track and that our revenue growth from our increasing production quantities will make for an outstanding year for Universal Energy."
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 of Universal Energy Corp., +1-800-975-2076,braley@universalenergycorp.info
Web site: http://www.universalenergycorp.info/
Source: PRNewswire-FirstCall
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