IRVINE, Calif., Sept. 18, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, announced today that it is moving forward quickly to close several major joint ventures, close several new energy supply contracts, and is in final negotiations to close on several major energy transactions. All of the Company's divisions are being positioned for significant growth and expansion. Universal Bioenergy is in advance negotiations on some transactions, and other transactions are being negotiated through its other subsidiaries, including NDR Energy Group, Texas Gulf Oil and Gas and Whitesburg Friday Branch Mine.
Some of the transactions that are being negotiated are;
Major Transaction in Negotiations
- Final negotiations with a major multi-billion dollar energy company for a long-term natural gas supply contract
- Final negotiations for a joint venture with a billion dollar energy company to supply its customers with natural gas throughout the U.S.
- Negotiations with a major Midwest electric utility to supply them with thermal steam coal
- Discussions to sell coal to a U.S. Government owned utility with the fifth largest electric power generating capacity in the U.S., that provides electric power in 7 states
- Finalizing approval for a multi-million dollar line of credit to buy natural gas with a major gas supplier to increase revenues
- Plans to export large quantities of thermal steam coal to companies in several foreign countries
- Pending approval of a Power Marketing license from the Federal Energy Regulatory Commission (FERC) to market electric power
- Negotiations with several major electric utilities to sell them electric power to meet their needs for power demand
- Discussions with several major commercial / industrial companies to sell them natural gas to diversify our customer base outside of electric utilities
- Negotiations for a joint venture with several companies to import and sell several million barrels of oil monthly and refined oil products, including diesel fuel, aviation fuel and lubricants
Universal's President Vince M. Guest states, "We are very excited that all of our subsidiaries are aggressively gearing up for major expansion for the next three to six months, through more joint ventures, energy contracts and acquisitions. Our acquisition team has been working very hard to find the right targets for us to acquire. The list mentioned in this new release, is just a sample of many of the transactions we are working on throughout all areas of the Company. We are pushing hard in an effort to reduce our debt, improve our balance sheet, and achieve positive earnings in the next one to two quarters, if possible. We are planning to appoint a new president of Texas Gulf Oil and Gas, as it will be playing a much greater role in this major expansion, and it may even eclipse some of our other divisions and subsidiaries in terms of revenue growth and potential profitability. We will be providing full information to the public on all of these transactions in the very near future as these individually close. We believe these strategic transactions, should they be completed, should have a very positive effect on our stock price and our shareholders. We encourage our shareholders to watch the news as these transactions unfold".
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.