IRVINE, Calif., Jan. 20, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, announced that it generated revenue of approximately $10.30 million for the month of December 2011. The sales were primarily from its subsidiary NDR Energy Group, which sold over $10.30 million in natural gas, and sales volume of over 2.99 billion cubic feet (Bcf) of natural gas for the month of December. The natural gas was sold to only 4 of its current 28 major electric utility customers for that month.
Universal Bioenergy is a high growth company, that continues to grow at double digit rates. It generated over $49.90 million in revenues for the nine months ended September 30, 2011. Through its subsidiary, NDR Energy Group, it sells natural gas to 28 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the country.
Universal's President Vince M. Guest states, "We're very pleased with the sales for the month of December, as we continue to build strong sales momentum. To put this into perspective, the $10.30 million in revenue for the single month of December 2011, represents about 25% of the $41.32 million in revenue that we generated for the entire year of 2010. The high sales were due to the demand for natural gas from utility our customers based on our futures contracts, which allowed us to sell gas at a range of $3.29 to $3.76 per mcf or MMBtu, and the hard work of NDR Energy's Vice President of Business Development, Rickey Hart. We feel this should have a positive effect on our revenues for the entire year of 2011, and create more value for our shareholders."
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
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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.