IRVINE, Calif., Sept. 25, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCQB:UBRG), a publicly traded independent diversified energy company, that markets natural gas, petroleum and coal, announced it is in advanced negotiations for an agreement to sell coal to several customers in China. As part of the negotiations, the Company is in discussions with its customers in China to arrange for them to visit and tour several coal mining operations in the United States.
The customers buy coal and other natural resources for power plants and other operations in China. The Company intends to sell them high grade thermal steam coal for electric power production.
Universal's President Vince M. Guest states, "We are very pleased with the progression of our negotiations with these customers. For the last two weeks we have been in discussions with our customers in China to arrange for them to come to the U.S. for face to face negotiations, and tour several coal mines and their operations. This will include travel arrangements to the U.S., and travel to several states where the coal is being produced. As part of their due diligence, the delegation of customers want to view the mines, the operations, and verify the coal type, quality and specifications based on the approved samples that we previously sent to them. This transaction if completed is projected to generate strong revenues and profits for the Company."
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.