IRVINE, Calif., June 5, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, propane, petroleum and coal, announced that its subsidiary NDR Energy Group, sold over 2.10 billion cubic feet (Bcf) of natural gas for the month June, that will generate millions in sales revenues, and propel its drive toward strong earnings.
Universal Bioenergy is a high growth company, that generated over $71.74 million in revenues for the fiscal year ended December 30, 2011. Through its subsidiary, NDR Energy Group, it sells natural gas to 28 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the country.
Universal's President Vince M. Guest states, "We are very pleased with NDR Energy's sales volume of natural gas for the month of June. After a soft first quarter due to the unseasonably warm winter on the east coast, this is a significant accomplishment. This marks a turning point, as natural gas prices are now trending upward. The NYMEX price has increased by 20%, from a low $2.052 per mcf in April, to $2.447 for June futures, and is projected to be as high as $3.09 by December. The Energy Information Administration expects that Henry Hub spot prices will average $3.96 per MMbtu in 2013. NDR Energy is planning a major expansion this year, and will set up two new energy product divisions that could generate millions in additional revenue and profits. Additionally, our attorneys are in the process of submitting the final documentation to the DTC to lift the chill. We will announce information about these developments very soon. We believe this will have a very positive effect on our shareholders."
NDR Energy Group's, President and CEO Ken Harris stated, "I am extremely proud to announce that we have achieved this benchmark. Earlier this year, we designated as corporate priorities the sale of gas for electric generation, term transactions and increased volume. June is an example month in which we achieved those diverse goals despite pervasive fluctuations in the natural gas marketplace. In light of our recent success, we will continue to emphasize this footprint in the coming months and years."
Ken Harris further noted: "Our continued productivity illustrates NDR's dedication to strong, productive relationships with utilities across the United States. For June, we sold gas to utilities on both the East and West coasts. Our Vice President of Business Development, Rickey Hart, has developed an extensive network over many years in the industry. That network provides us with a solid foundation for our desired growth in margin, volume and the diversity of our product offerings."
About NDR Energy Group LLC
Founded in 2005, NDR Energy Group, headquartered in Charlotte, N.C., is an energy company that markets and distributes natural gas and propane (HD-5), to major electric utilities and municipalities throughout the U.S. NDR provides energy management services to assist its clients in finding efficient and economic solutions. We also can provide other energy products such as refined petroleum products, energy efficient lighting systems and sustainable, alternative and renewable energy solutions to reduce our client's energy costs. For more information visit www.ndrenergy.com.
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About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
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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.