IRVINE, Calif., Aug. 1, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG), a publicly traded energy company, announced it is gearing up for major growth and expansion in the energy sector in what could be a banner year for the Company. Its executives and acquisition team are in advanced negotiations with three companies that would be a strategic advantage to the Company in its plans to become one of the largest independent energy companies in the U.S. The Company in its recent SEC filings confirmed it has executed formal Letters of Intent for several major acquisitions to develop oil and natural gas in six states in the U.S.
Universal's Sr. V.P. Solomon Ali says, "Last year was just the beginning. We expect the next six to twelve months to be an exciting time. We are gearing up for what we believe will be a banner year for UBE. We have three multi-million dollar major acquisitions that we are aggressively pursuing, two of which are in advance stages of contract negotiations and may close very soon. Presently, we are working diligently with our investment bankers to bring in long-term institutional investors raising tens of millions of dollars for future acquisitions and to retire some of our long-term Notes. The acquisitions may be accomplished by using a combination of cash and/or common stock of the company. That's the paramount reason why we increased our authorized shares, so that we would be in a position to immediately take advantage of some really great opportunities as they arise. Based solely on our initial due diligence, our management believes that if the new acquisitions are completed, the projected value of these acquisitions may generate an additional estimated $130 to $230 million in revenue and a potential $26 to $46 million in earnings annually. We believe this could significantly increase the price of our stock, the market value of the Company and bring greater financial rewards to our shareholders."
"We have a great deal of confidence in our team, our plans for growth and these potential acquisitions. We are very bullish on the future of the Company as we expand further into development of natural gas, LNG, CNG, oil, propane, syngas and possibly thermal coal. For a young company that generated over $41 million in revenue last year during a recession, we have positioned ourselves to possibly double those revenues this year. Our first and second quarter 10-Q Reports should be filed very soon and we feel they will be very positive for our shareholders. We anticipate that our revenues for the first six months of 2011 may nearly equal our revenues for all of 2010. Once we are current on our filings, we can complete the process to be listed on the Frankfurt Stock Exchange, one of the largest in the world. This means our loyal shareholders and investors could be part of a Company that may be much, much bigger than it is now. There is also a major push by our management to generate solid earnings from these and future acquisitions," states Universal's President Vince Guest.
Universal intends to pursue the acquisition of more oil and gas properties and assets. This includes existing oil and gas fields, development of newly discovered or recently discovered oil and gas fields, re-entering existing capped wells and lease acquisitions. Fields with previously drilled capped wells would be of highest priority for Universal, since they had "proven wells" before and would therefore have lower development costs and lower associated financial risks. This would allow Universal to own and/or control its own natural gas supply by obtaining the gas at the wellhead from supplies with large reserves and inventories, to market and distribute directly to its growing customer base.
About The Company
Universal Bioenergy Inc. is an alternative energy company and intends to create and market natural and alternative energy sources including natural gas, petroleum, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to become one of the largest independent energy companies in the U.S.
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.