StockGuru News: Universal Energy Corp. Updates Stockholders on Progress of Drilling Operations on Its Lake Campo, W. Rosedale and East OMG Prospects
HOUSTON, Oct. 24 /– Universal Energy Corp. is pleased to give the following update on its Lake Campo, W. Rosedale and East OMG prospects. Currently, drilling is progressing at the following depths:
– Lake Campo – 7,700 feet
– W. Rosedale – 5,000 feet
Operations at East OMG are progressing on schedule as well. Yesterday, surface casing was completed at East OMG. Drilling operations at East OMG are expected to continue until mid December 2007. Further, intermediate casing has been installed at Lake Campo and W. Rosedale. The company anticipates the completion of drilling operations at Lake Campo and W. Rosedale within the next two weeks.
“The excitement continues to build,” commented Billy Raley, Universal Energy Corp. CEO. Raley continued, “We are focused on completing the drilling operations and moving these wells into production.”
“Building significant cash flow is objective number one,” commented Dyron Watford, CFO of Universal Energy when asked about the financial impact of current drilling operations. Watford concluded, “Being able to complete drilling and move these wells into production within the next few months brings significant revenues and earnings well within sight.”
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 and throughout Louisiana. Visit www.universalenergycorp.info for more details.
Forward Looking Statements — The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a “forward-looking statement” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
CONTACT:
Universal Energy Corp.
Billy Raley, CEO, (800) 975-2076
braley@universalenergycorp.info
Source: Universal Energy Corp.
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