IRVINE, Calif., Aug. 29, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, propane, and produces petroleum and coal, announced today that it is aggressively gearing up for another major expansion for the company through more joint ventures, energy contracts and acquisitions. The Company's acquisition team has been in discussions for several months with several strategic target energy companies to acquire.
The Company is in advanced negotiations with a major multi-billion dollar energy company for a long-term contract to supply them with natural gas. Advanced negotiations are ongoing for a joint venture with another billion dollar energy company to assist them in supplying its customers with natural gas in specific geographical regions throughout the U.S.
Universal's Senior Vice President Solomon Ali states, "We feel we can achieve our goal to build a billion dollar diversified energy company in terms of sales and/or market cap. We believe we have a blueprint for success, and are very excited about our plans for growth and expansion to complete that objective. We have been working on some major transactions, that we feel should have a strong, positive impact on the Company's future, growth and stock price. Some of these transactions should close very shortly. Our acquisitions team has been reviewing a number of energy companies, and has targeted several that we anticipate should significantly increase the company's revenues and help accelerate our drive toward profitability, if the acquisitions are successful. As the Company continues to grow, we have had a greater interest in more companies wanting to joint venture with us, and some have expressed an interest in some international business ventures. The Company will be providing details to the public on these transactions very soon. We feel this should bring more value to our loyal shareholders and the investment community."
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.