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Universal Energy Corp. (UVSE.OB) Posts Strong Fiscal Results, Boosted by Positive Well Production

Universal Energy Corp. (OTCBB: UVSE) in an emerging energy company pursuing acquisition and development of crude oil and natural gas leases in the United States. The company recently posted its operational second quarter results for the fiscal year ended June 30, 2008.

Universal Energy reported net income at $2.9 million for the first quarter of 2008, up from a loss of $2.03 million for the second quarter of 2007. On a six-month scale, the company posted $3.55 million for the period ended June 30, 2008, up from a loss of $2.7 million the same period the year prior.

Revenue for the second quarter of fiscal 2008 totaled $0.33 million, derived from operations of producing wells in the Company’s Lake Campo and Amberjack prospects. Dyron Watford, Universal Energy Corp. chairman and CEO said financial results point to a strengthening company.

“Exceeding the high end of our revenue guidance for the quarter by 11% is fantastic. As we continue to increase revenues with production in the third quarter from Caviar #1 and Caviar #4, the financial picture for Universal Energy becomes more solid with each day of production,” Watford stated in the press release.

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