Drilling will begin on new prospect during October 2007
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HOUSTON, Oct. 9 /PRNewswire-FirstCall/ — Universal Energy Corp. (OTC Bulletin Board: UVSE – News) is pleased to announce that it has entered into a participation agreement for another 3-D drill ready prospect in Iberville Parish, Louisiana. This prospect, know as W. Rosedale, is the ninth drill ready prospect the company has acquired in the past six months. Currently, the Company’s drill ready portfolio consists of the following prospects: Amberjack, Caviar (4 prospects), East OMG, Lake Campo, Lone Oak and W. Rosedale. The company has recently completed successful drilling operations at Amberjack and Caviar #1.
“The growth of our quality prospect portfolio over the past few months has been incredible,” commented Billy Raley CEO of Universal Energy Corp. Raley concluded, “The ability to diversify risks by consistently growing the prospect portfolio is a key to our success.”
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 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.
CONTACT:
Universal Energy Corp.
Billy Raley, CEO, (800) 975-2076
braley@universalenergycorp.info
Source: Universal Energy Corp.
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