UVSE: Universal Energy Corp. – Commences Drilling in Prolific Plaquemines Parish July 2!
Stock Guru Profile UVSE Universal Energy Corp.
The spud date for the Amberjack Project is July 2, 2007. What is a spud date? That is the date that drilling commences at the surface. The drilling is located at a point which Universal believes is an excellent gas indicator and is consistent with the characteristics of other highly productive fields in the area.
This Amberjack Project agreement allows Universal Energy to earn a 7.5% working interest before casing point and a 5.625% interest after casing point based on the participation in the drilling of a test well. Amberjack lies in the prolific Middle Miocene Trend which stretches across most of southeast Louisiana. Well drilling is scheduled to achieve wells between 10,200 and 10,600 feet deep.
Plaquemines Parish is a prolific oil producing area. Other oil and gas companies are reporting excellent returns.
- Clayton Williams Energy Company reported that seven of the eight wells drilled on its Floyd prospect in Plaquemines Parish are currently producing at combined rates of approximately 1,023 gross (598 net) barrels of oil and 23,576 gross (13,683 net) Mcf of gas per day.
- Oil exploration and development company Swift Energy Co. bought a $20.4 million interest in the Lake Washington oil field in Plaquemines Parish, Louisiana. In the Company’s Lake Washington area in Plaquemines Parish, Louisiana, Swift Energy completed 10 of 12 development wells.
Universal Energy Company has located in one of the most highly productive oil and gas regions in the United States and drilling begins July 2!
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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