UVSE: Oil Sands of Canada Staggering Amount of Oil
Stock Guru Profile UVSE Universal Energy Corp.
The Nisku Reef Project agreement for drilling in the Oil Sands of Canada has good potential. The geological formation directly traversing to the southwest and the northeast of our property has averaged 12 million barrels of oil and 45 billion cubic feet of gas. Universal has the opportunity to drill up to 3 wells on this tract.
The Oil Sands of Canada have long been a known reserve. This significant worldwide reassessment of reserves in 2003 which placed Canada in third place in terms of reserves was based upon the concept of commercially recoverable oil and gas. It is this key concept of a cost effective recovery that propels the energy industry in the oil sands of Alberta. Technological innovation and cost cutting measures implemented since the 1980’s have made a sizable portion of the oil sands accessible to commercial enterprise.
Technological innovation in obtaining oil has reduced the cost of drilling in the oil sands. Continued advanced research and development as pertains to oil sands applications continues to reduce the recover cost of a barrel of oil from the oil sands.
Size of Reserves Staggering and Growing
Some experts propose the recoverable reserves could be as high as 300 billion barrels an increase from the current 179 billion barrel estimation.
Canada is the largest supplier of energy resources in the United States. U.S. receives ninety-nine percent of Canadian oil exports. In 2003 seventeen percent of all U.S. imports and eighty percent of natural gas imports were Canadian.
Universal has a legitimate reason to be optimistic about their chances for oil recovery from the Oil Sands of Canada.
Universal Energy Corporation
30 Skyline Drive
Lake Mary, FL 32746
Phone: (800) 975-2076
Email: info@universalenergycorp.info
Website: http://www.universalenergycorp.info
About Universal Energy Corp. – Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. 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 Alberta, Canada and Southeastern Louisiana. Visit www.universalenergycorp.info for more details.
Safe Harbor Statement: All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company’s future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company’s control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements and filings.
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