Universal Bioenergy Announces It Is in Talks for Joint Venture for Energy Contracts, Forecasts Profits of $20 Million
March 12 2014 - 11:15AM
Marketwired
Universal Bioenergy Announces It Is in Talks for Joint Venture for
Energy Contracts, Forecasts Profits of $20 Million
IRVINE, CA--(Marketwired - Mar 12, 2014) - Universal Bioenergy
Inc. (OTCQB: UBRG), a publicly traded independent diversified
energy company, announced today that it is in talks with a company
for a major joint venture to launch a new initiative to generate
revenues through natural gas, electricity and other energy product
contracts.
In its plans for growth and expansion, Universal Bioenergy has
been in talks with a company to form a strategic alliance to
generate higher revenues and profits in the next 12 months. The
Company is forecasting that it could generate an estimated $100
million in revenues, and earn an estimated $2 to $20 million in
profits from the energy contracts. Both parties are in discussions
to initially sign a Letter of Intent, and then move forward with a
definitive agreement.
Universal Bioenergy is a high growth diversified energy company
that is experiencing double-digit growth. On March 6, 2014,
Universal Bioenergy released its fiscal Second Quarter Financial
Results, and announced that its sales were up 12.78% to $32.57
million over the same period last year. It reduced its expenses by
53.00% and its debt by 25.60%.
On March 7, 2014, the Company announced that its subsidiary NDR
Energy Group is projecting record sales of natural gas for March
2014. The 2.45 billion cubic feet (Bcf) of natural gas sold is the
highest in NDR's history for March and is projected to produce an
estimated $12.13 million in gross revenues for March. The $12.13
million in sales for March 2014, equals 318% of the $3,809,176 in
gross sales that NDR Energy posted in March of 2013.
Universal's President Vince M. Guest states, "We are very
excited about this proposed joint venture and strategic alliance to
generate higher revenues and profits for the Company. We believe
the Company will continue to experience significant growth in
revenues and profits in the next 12 months through the contracts
for natural gas and electric power. We anticipate providing more
information to the public as these talks advance in various stages
of development to a proposed final contract. We feel this could
have a very positive effect on our stock price and our
shareholders."
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
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.
For inquiries contact: Media Relations: Solomon Ali
704-837-5705