Universal Energy Corp. Provides Drilling Update #3 on Lone Oak Prospect in Galveston Bay, Texas
Posted on: Thursday, 19 June 2008, 09:00 CDT
HOUSTON, June 19 /PRNewswire-FirstCall/ -- Universal Energy Corp. (OTC Bulletin Board: UVSE), announced today that directional drilling is underway at its Lone Oak prospect. The total measured depth of the well is currently 8,600 feet and the directional drilling will continue to a measured depth of 11,470 feet. It will take approximately eight days to reach 11,470 feet at which point intermediate casing will be installed.
Billy Raley, Chief Executive Officer of Universal Energy Corp. stated, "The drill program at Lone Oak #1 is scheduled to be complete mid July 2008. We remain excited about the potential reserves this could bring Universal Energy and its stockholders."
Universal Energy Corp. is a publicly traded (BULLETIN BOARD: UVSE.OB) 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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