IRVINE, Calif., Jan. 25, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCBB:UBRG), a publicly traded independent diversified energy company, announced that it sold over 2.53 billion cubic feet (Bcf) of natural gas for the month of January. The natural gas was sold to several of its 28 major electric utility customers through its subsidiary NDR Energy Group.
One of the customers that purchased natural gas was the nation's largest natural gas distribution utility located on the west coast with over 20.7 million consumers, and another major electric utility which purchased gas for power generation for its approximately 15 million people throughout a 70,000-square-mile service area on the west coast. The sales volume of 2.53 billion cubic feet (Bcf) of natural gas was sold despite the mild winter on the east coast.
Universal Bioenergy is a high growth company which continues to grow at double digit rates. 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 volume that we made in the first month of this year. This is a great accomplishment for us especially in view of the continued soft economy and the unseasonably warm winter on the east coast. The sales of 2.53 billion cubic feet of gas is due in large part from our backlog of purchase agreements and demand for natural gas for use in power generation. Additionally, NDR Energy Group is expanding its sales of propane to some of our utility customers on the east coast. We are currently in negotiations with several other large electric utilities to obtain new purchase agreements to increase our revenues, and another major natural gas producer to obtain more gas for our expanding customer base. With our continued growth we are working very hard to achieve profitability this year."
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.