United Energy Announces Master Purchase Agreement With Petrobras America Inc.
March 20 2006 - 11:21AM
PR Newswire (US)
SECAUCUS, N.J., March 20 /PRNewswire-FirstCall/ -- United Energy
(OTC:UNRG.OB) (BULLETIN BOARD: UNRG.OB) is pleased to announce that
it has entered into a non-exclusive Master Purchase Agreement with
Petrobras America Inc. for the sale of its K-line of patented
specialty chemical solutions for the oil and gas industry. The
Agreement does not provide for any minimum amount of purchase
orders. Petrobras is the national oil company of Brazil with over
14,000 productive oil wells, daily production of more than 1.8
million barrels of oil per day, 16 refineries, 30,000 kilometers of
pipelines and annual earnings of more than US $30 billion.
Commenting on the news United Energy Corp. CEO, Brian King stated,
"The Petrobras agreement represents a significant step in the
execution of our distribution strategy. Over time, we believe that
Petrobras will become a significant purchaser of our patented
K-Line of products which provide unique solutions to the oil and
gas industry." United Energy Corp. (OTC:UNRG.OB) (BULLETIN BOARD:
UNRG.OB) , is headquartered in Secaucus, NJ, and primarily engaged
in the development and marketing of specialty chemical solutions
for the oil and gas industry. Its patented K- Line of products have
proven effective in stimulating oil well production, reducing
viscosity and drag in pipelines and in recovering oil from sludge
in storage tanks. Except for the historical information herein, the
matters discussed in this news release include forward-looking
statements that may involve a number of risks and uncertainties.
Actual results may vary significantly based on a number of factors,
including, but not limited to, risks in the product and technology
development, market acceptance of the new products and continuing
product demand, the impact of competitive products and pricing,
changing economic conditions, including changes in short-term
interest rates and foreign currency fluctuations and other risk
factors detailed in United Energy's most recent periodic reports
pursuant to the Securities and Exchange Act of 1934 and other
filings with the Securities and Exchange Commission. United Energy
Contact: Robert Guinta Investor Relations (201) 842-0288
DATASOURCE: United Energy Corp. CONTACT: Robert Guinta, Investor
Relations of United Energy Corp., +1- 201-842-0288, or Web site:
http://www.unitedenergycorp.net/
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