IRVINE, Calif., Dec. 6, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, announced that it is forecasting its sales to increase to over $275 million in the next twelve to eighteen months. The forecasted increase in sales is expected to come from the sales of natural gas through NDR Energy's electric utility customers, commercial and industrial division, electric power sales, new joint venture partners and sales of thermal steam coal from the Whitesburg Friday Branch Mine to the global energy markets.
The Company anticipates increasing sales of its energy products to its expanding customer base, and gaining a greater market share in all of the energy markets that it serves. Universal Bioenergy is rapidly growing at double digit rates, and achieved sales of over $71.74 million in 2011. Through NDR Energy Group, its subsidiary, it sells natural gas to 30 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.
Vince M. Guest, Universal's President, says, "We feel very positive about the sales forecasts in the next 12 to 18 months. The actual sales could be much higher if we were to factor in sales from gas storage, refined energy products and sales of petroleum. We are still looking at a number of other acquisition targets that will also add substantially to our revenue. We will provide more information on these products sales and acquisitions and the relative earnings forecasts in the near future. We believe this should have a very strong impact on the Company's future growth and expansion."
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.