UVSE: Universal Energy Corp. – Locates in the Prolific Oil Sands of Canada
Stock Guru Profile UVSE Universal Energy Corp.
PEMBINA NISKU REEF PROJECT
UVSE has located in the oil sands of Canada with their Pembina Nisku Reef Project. The Canadian Oil Sands are prized because they are located in a politically stable section of the world and with the advancement of technology the cost of drilling is coming down!
The facts are:
- UVSE will earn a 95% working interest in these leased lands by drilling a test well to the base of the Nisku formation, subject to a convertible 15.0% GORR
- UVSE is currently reviewing 3-D seismic and performing telluric data testing on this project
- Allowable 160 acre spacing does permit for up to three wells to be drilled on these lands
- Characterized as a “high impact” oil and gas prospect in central Alberta
- The wells that have been successfully completed in the Nisku Reef formations in this area are some of the most prolific producers of oil and gas in the province of Alberta
- The offset wells within 2 miles of their property that have been successfully completed in the Nisku formation have averaged the following initial production rates of 1,000 barrels of oil to as high as 7,000 barrels per day demonstrated by a well two miles northeast of our current prospect
- Offset cumulative production from these prolific Nisku Reef Formations average 15 million barrels of oil and 50 billion cubic feet of recoverable gas
- Two dimensional seismic data interpretation indicates that the Nisku Reef formation is present on our ¾ section prospect and the initial drill target is expected to encounter the reef formation with similar production rates expected and demonstrated by the offset wells in the area
The Oil Sands of Canada – THE PLACE TO MAKE MONEY!
In 2003 the Oil and Gas Journal profoundly altered the estimated reserves of oil and gas worldwide. The oil sands of Alberta, Canada, were designated as the second largest oil and gas reserve in the world – second only to Saudi Arabia. The Oil & Gas Journal, in making this determination, included in its calculation bitumen from oil sands deposits. Although these were not new deposits and had historically been known, the technology for a cost effective recovery had not been proven.
This significant worldwide reassessment or reserves in 2003 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.
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.
UVSE has made a smart move to the Canadian Oil Sands! That’s two for two. They have located in the highest producing region in Louisiana and now they have done the same in the Oil Sands of Canada. They are strictly applying the golden rule of oil and gas drilling: location, location, location!
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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