IRVINE, Calif., Feb. 12, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, propane and coal, announced that NDR Energy Group, its subsidiary in Charlotte, announced that with the launching of its new Commercial Industrial Division, it has now expanded into the sales of natural gas sales in the spot market, and daily and weekly gas sales. This expansion into the spot market sales of natural gas is expected to significantly increase the gross margins and earnings of the Company in its drive towards profitability.
On February 11, 2013, the Company announced that NDR Energy launched a new sales division to begin marketing natural gas to large commercial and industrial customers that could generate millions in additional revenue. The Commercial/Industrial Division is now fully operational and is starting to engage in spot market sales, and daily natural gas sales transactions. The Company is planning to utilize specific pipelines and delivery points to ship the gas, such as the Transco Zone 5 for the Carolinas, Southern for SoCo-Alabama and Georgia, and Transco Zone 4 for Georgia.
NDR Energy Group signed an agreement, in a major strategic partnership with one of the largest independent natural gas marketers in the United States. According to the venture partner, it is the number one independent natural gas marketer in the US., reporting sales of over $1 billion annually, it services over 400 industrial and commercial customers, and maintains over 6 billion cubic feet (BCF) of gas storage. This new partnership will allow NDR Energy to sell natural gas, in association with the partner, to its industrial customers, large commercial customers, and independent municipalities in North and South Carolina, Georgia, Alabama, Mississippi, Louisiana, Tennessee, Kentucky and Ohio.
Universal's President Vince M. Guest says, "This is a major milestone for the Company in terms of how we sell and market of natural gas. This allows us to expand far beyond the sales of gas in the futures markets which has smaller gross margins, into the spot market where the gross margins are significantly higher. The gross margins in the spot market can be in the range of $0.05 to $0.25 or more, and sometimes as large as $3.00 to $8.00 or more per mcf for gas that was purchased in the summer months and stored for sales at higher prices in the winter months. We feel this should have a very positive impact upon our profits, earnings and the price of our stock."
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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