The EAST OMG well should have a report very, very soon.
This is UVSE’s medium risk high return well.
To date this is what we know about East OMG:
December 10, 2007, Report: Drilling operations reached a vertical depth of 14,564 feet. Universal Energy anticipates that drilling operations will continue for seven more days to reach a total vertical depth of 16,500 feet.
This means vertical depth was reached on or about December 17, 2007.
The main objective sandstones, Camerina and Miogyp, which comprise the East OMG prospect, have potential reserves in excess of 59 Billion Cubic Feet Equivalent of gas valued at approximately $416,000,000.
Universal Energy Corp. holds a 17.5 percent working interest in this prospect that means $78M interest or 10.325B Cubic Feet Equivalent of gas.
Of the four UVSE drilled wells == all come in on time and according to plan.
In terms of risk management the decision was made to drill the four low risk wells first. This has been done and they were all successful.
Listen to the UVSE CEO AND CFO:
Billy Raley spoke with StockGuru and explained the overall business model and plan of UVSE:
Dyron Watford spoke with StockGuru and explained each prospect and what it means in terms of cash flow.
The best may be yet to come!
CONTACT: Universal Energy Corp.Billy Raley, CEO, (800) 975-2076
braley@universalenergycorp.info
Email: Dyron M. Watford, CFO – dwatford@universalenergycorp.info
Website: www.universalenergycorp.info
30 Skyline Drive
Lake Mary, FL 32746
Phone: (800) 975-2076
Fax: (800) 805-4561
Source: Universal Energy
About Universal Energy Corp. Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.Safe Harbor Statement: All statements, other than statements of historical fact, included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company’s future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company’s control, and may yield results differing materially from those anticipated. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements and filings.
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