HOUSTON, May 28 /PRNewswire-FirstCall/ -- Universal Energy Corp. (BULLETIN BOARD: UVSE) , an emerging U.S. oil and gas exploration and production company, today announced revenue guidance for the 2nd quarter 2008 and 3rd quarter 2008. The second and third quarters refer to the three month periods ending June 30, 2008 and September 30, 2008, respectively.
Dyron Watford, CFO of Universal Energy Corp. stated, "Based upon the current production of our existing wells, we are pleased to project an excellent series of quarters just ahead in Fiscal 2008. Our revenues are estimated to be within the range of $0.25 million to $0.3 million for the 2nd quarter 2008 and our range for 3rd quarter 2008 is $0.8 million to $0.9 million. This guidance for the second and third quarter 2008 represents an increase of approximately 217% and 882% as compared to first quarter 2008." Watford concluded, "We are starting to see the growth that management expects."
Universal Energy Corp. is a publicly traded (OTCBB: UVSE - News) 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
