Stock Guru Profile Universal Energy – Blog – News
Let’s Look at the BIG ONE: PEMBINA NISKU
In September 2006, UVSE acquired this project situated in the Pembina oil field in an area that is concentrated with Nisku Pinnacle Reef occurrence.
What does that mean?
On January 11, 2007, when Stock Guru was first approached by UVSE the Nisku Reef was the crown jewel that was discussed — but with two successful wells since then and three started this week it has been wonderful to watch UVSE build a solid foundation leading up to the BIG PAY OFF Nisku play.
On January 11, 2007, UVSE noted that some ongoing businesses were factoring in the cost of oil at $100.00 a barrel. Oil topped $90.00 a barrel this week.
On January 11, 2007, UVSE noted they had a prospect in Canada that was located exactly between two of the MOST prolific wells in Alberta, Canada.
That very day a representative from Stock Guru was leaving for Alberta, Canada, and we were able to see for ourselves the dynamic oil industry in action.
Unlike much of the oil and gas industry in Alberta which is comprised of drilling in the oil sands — the Nisku prospect is deep well drilling and that means the cost of recovery will be less than oil sands recovery.
Here are the facts and they are all GOOD. In essence these facts when taken in concert or individually indicate the Nisku prospect has the potential for an extremely high rate of return.
PEMBINA NISKU REEF PROJECT
- UVSE will earn a 95% working interest in these leased lands by drilling a test well in the base of the Nisku formation, subject to a convertible 15.0% GOR
- UVSE is currently reviewing 3-D seismic and performing telluric data testing on this project
- Allowable 160 acre spacing permits for up to three UVSE wells to be drilled on these lands
- 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
Perhaps this is the most important fact: the offset wells within two miles of UVSE 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 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 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
MAP OF PEMBINA NISKU PROSPECT
Note: This calculation factors in the price of oil at $40.00 a barrel. It touched $90.00 a barrel this week.
UVSE is two for two and this week they started an additional three wells.
Listen to the UVSE CEO AND CFO:
Billy Raley spoke with Stock Guru and explained the overall business model and plan of UVSE:
Dyron Watford spoke with Stock Guru and explained each prospect and what it means in terms of cash flow.
The best may be yet to come!
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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