For Immediate Release: June 25, 2007
Universal Energy Corp. Announces Expected Spud Date on the Amberjack Prospect
Houston, Texas - PR Newswire-FirstCall
Universal Energy Corp. (OTC Bulletin Board: UVSE.OB-News) is pleased to announce that the operator of our Amberjack prospect has informed us that the expected spud date for the prospect is July 2, 2007. The main objectives of the approximately 840-acre Amberjack prospect are the Lower Big-H, Big H and UL-4 sands that have proven undeveloped reserves of 10.1 BCFE.
The greatest strength of the Amberjack prospect lies in the geophysical interpretation which demonstrates a 90 acre UL-5 amplitude anomaly of exceptional quality. This anomaly is the same type of high amplitude, low frequency, trough-peak geophysical event witnessed over the other UL-5 reservoirs in the area. The amplitude anomaly fits the structural picture and displays the highest amplitude near the crest of the structure, two characteristics which are excellent gas indicators. Also, the seismic gather data displays an AVO anomaly in the prospective amplitude consistent with the AVO's seen in other highly productive fields in the area.
Company CEO Billy Raley stated, "We are pleased to keep our stockholders informed as to the progress of the Amberjack prospect. It's truly wonderful to hear how excited they are about our upcoming summer drilling schedule." Raley continued, "while Amberjack is a stellar prospect - the great news for Universal and our stockholders is that it's just the beginning."
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 Southeastern Louisiana. Visitwww.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.
CONTACT:
Universal Energy Corp.
Billy Raley, CEO, (800) 975-2076
braley@universalenergycorp.info
Source: Universal Energy Corp.
