IRVINE, Calif., Feb. 15, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (OTCMarkets:UBRG), a publicly traded independent diversified energy company that markets natural gas, oil and propane, announced that NDR Energy Group, its subsidiary, is in the final stages of negotiations to close on new energy supply agreements to supply natural gas to two major multi-billion dollar energy companies.
NDR Energy Group is in final negotiations with a major multi-billion electric utility in the upper mid-west and another east coast multi-billion dollar distributor of energy products that includes natural gas and propane. The final contracts and related issues are being reviewed by its energy services consulting company New Horizons Energy Group LLC. The transactions could potentially generate millions of dollars in additional revenue for the Company. The Company will announce the details shortly when the final agreements are signed.
Universal Bioenergy is a high growth company that continues to achieve year over year double digit growth in revenues. On December 20, 2011, the Company announced that NDR Energy signed an agreement with one of the largest energy consortiums in the U.S., to supply its 46 public power company members with natural gas. The consortium purchased over $824 million in energy for its members in 2010. NDR Energy Group currently has contracts to sell natural gas to 28 of the largest public utilities, electric power producers and local gas distribution companies in the United States. The Company and NDR Energy Group continue in their pursuit to build a larger and expanded customer base to market natural gas, propane and oil.
Universal's President Vince M. Guest states, "We're very excited about the work that NDR Energy Group is doing. We look forward to them closing these potential multi-million dollar transactions. We are also thrilled about the new profits centers that NDR Energy is adding this year. NDR has some other major deals they are working on, that we believe will have a major impact on the Company's revenues and profits. We will be making some major announcements very soon about these developments and how they should accelerate our drive toward profitability this year. The transaction for the coal mine is near to closing, and we will be announcing the timing of our shareholder conference call shortly. We are preparing for what we feel will be a great year for our loyal shareholders and investors. Some major events are about to happen 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
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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.