Universal Energy Corporation is an independent diversified energy company engaged in the acquisition, development, exploration and production of crude oil and natural gas in Louisiana and Texas. Universal Energy Corp has two subsidiaries: Universal Explorations, Inc. and Universal Services, Inc.
Universal Services, Inc. has recently engaged in activities to acquire two energy services companies; Powertown Line Construction, which provides installation, maintenance and replacement for the power lines used in the transmission and distribution of energy to end users; and Williston Crane, which provides heavy equipment used in the maintenance and construction industry.
On July 3, 2008, Universal Energy announced the completion of the Caviar pipeline in Texas. This pipeline will allow the flow of more than 4 million cubic feet of gas from Caviar #1 and # 4 drilled in 2007 to be efficiently available for commercial use.
So far, Universal has shown little revenue, but with the pipeline now in place, that may change. It has largely survived on stock issuance until now. Universal Energy is trading around $.02 today on volume of 124M shares. The 52-week range is $.01 to $2.55.
Is the pipeline the fix for Universal? Let us know what you think below:
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