Universal Energy (UVSE) Up as Much as 30% and Oil Crossed $100 Per Barrel First Time Ever Today
UVSE Up as Much as 30% Today with a High of $0.80 – Early Volume Already More than 10 Day Average
StockGuru Profile Universal Energy – Blog UVSE – News UVSE
Watching UVSE today was a gigantic bright spot in a seriously down market.
I was not surprised that as the Dow was down two percent UVSE just kept on moving.
I let you know about this potential move between Christmas and New Years and now it has come to pass.
Then again, I was focused, no, I was riveted on these moves as they happened and let you know about them!
There is NO REASON to trade down in a down market with commodity moves like these:
- Oil hit $100 a barrel with NYMEX West Texas Intermediate crude oil futures closing at $99.62.
- Henry hub NYMEX gas prices closed at $7.85.
UVSE pulled in another amazing day!
I want you to take a close look at UVSE and what the move commodity prices means for them.
In determining their 2008 revenue UVSE used the West Texas Intermediate Crude price of $72.50 a barrel. Huge, huge difference between north of $100.00 a barrel and $72.50 a barrel. This means revenue has the potential to be much higher than predicted if oil stays north of $100.00 a barrel for their first wells.
Now look at UVSE’s natural gas revenue. UVSE factored in $7.60 in their 2008 revenue projections. Henry Hub natural gas prices are looking steady at $7.85.
We have not heard from UVSE regarding East OMG. They were scheduled to reach total depth on December 23. A twenty five cent difference on the combined reserve potential of the four principal objective sandstones that comprise the East OMG prospect which is estimated to be greater than 59 BCFE is a lot of revenue. That is 59 BILLION Cubic Feet and that is gigantic. Remember: East OMG is their medium risk HIGH return well!
It may have been a down day as U.S. stocks fell with the Dow slumping about two percent to dip below the 13,000 level, after U.S. manufacturing data showed signs of contraction BUT our pure plays in commodities just kept on working.
UVSE shrugged off the downward Dow and just kept on working and so did StockGuru!
I hope you were listening.
Source: Universal Energy and SFMI
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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