Thursday we will see U.S. data on oil and gas. This is expected to show a 100,000 barrel fall in gasoline inventories.
Why now, why this week? Timing and Opportunity.
- Universal Energy is located in some of the the most proven prolific drilling areas in the world.
- We have passed the peak of the Atlantic hurricane season, which officially runs through November.
- Oil prices have steadied just under $79 a barrel.
- The United States is the single largest oil-consuming nation in the world.”Most people that are doing long-term planning in the oil business are using a crude price somewhere around $60 a barrel,” said Lynn Westfall, chief economist of the Tesoro Corporation, a leading refiner.
- A political crisis, accompanied by potential supply disruptions, could be enough to send oil past the psychologically important $100 mark.
- ”If there was a war between Iran and the West, the price of oil could go very high,” Stephen P. A. Brown, director of energy economics and microeconomic policy analysis at the Federal Reserve Bank of Dallas, recently noted.
- Oil and gas infrastructure is strong and intact.
- Oil prices hit a record high of $83.90 a barrel on Sept. 20, after the U.S. Federal Reserve cut interest rates.
- U.S. data on Thursday is expected to show a 600,000 barrel build in crude stocks, a 600,000 barrel draw in distillates and a 100,000 barrel fall in gasoline inventories.
- Larry Goldstein, president of the Petroleum Industry Research Foundation in New York noted an American economic slowdown will not have a visible impact on high oil demand and it won’t have a visible impact on high oil prices.
Meet the Management of UVSE :
Billy Raley, CEO of Universal Energy Corporation (UEC), was Regional Vice President for Progress Energy Florida, Inc., where he was responsible for operations and community relations throughout a six-county area in Central Florida. His team consisted of 400 company employees and 200 contract employees, most of who were responsible for distribution construction and operations to nearly 400,000 customers.
He was also the Vice President of Transmission for Carolina Power & Light, also a Progress Energy Company. In that position he was responsible for the construction and maintenance of all transmission facilities in North and South Carolina. He also provided oversight for all transmission engineering and maintenance for the Florida transmission system. Mr. Raley’s background is comprised of over 25 years of electric utility industry experience, including expertise in the areas of Transmission and Distribution Operations, Construction and Maintenance, and Nuclear Generation.
Dyron M. Watford is a CPA and the Chief Financial Officer for Universal Energy. He was formerly an auditor for Arthur Andersen, LLP. Mr. Watford obtained a Master of Business Administration degree from the University of Central Florida in December 1998.
Stay tuned as we examine the projects the men of UVSE have in the works.
CONTACT:
Universal Energy Corp.
Billy Raley, CEO, (800) 975-2076
braley@universalenergycorp.info
Email: Dyron M. Watford, CFO – dwatford@universalenergycorp.info
Website: www.universalenergycorp.info
30 Skyline Drive
Lake Mary, FL 32746
Phone: (800) 975-2076
Fax: (800) 805-4561
Source: Universal Energy, Reuters, Wall Street Journal, Bloomberg
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, Louisiana and Texas. 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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