HOUSTON, July 14 /PRNewswire-FirstCall/ -- Universal Energy Corp. (BULLETIN BOARD: UVSE) , an emerging U.S. oil and gas exploration and production company, announced today that component installation on the production barge was completed as scheduled and that production at Caviar #1 and Caviar #4 began last week. Since coming online, both Caviar #1 and Caviar #4 have produced well and now will start ramping up their production.
"This growth story is really beginning to take shape," commented Dyron Watford, Chief Financial Officer of Universal Energy Corp. Watford continued, "Our production has grown from $30,000 a month at the beginning of the year to what we estimate will be close to $300,000 next month. In six months time, that's impressive growth by any standard."
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
