UVSE - 123% and 244% Increases in Gas an Oil in Q2
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The earnings conference call will be August 20, 2008 at 9:00 a.m.
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http://www.finanznachrichten.de/...chten-2008-08/artikel-11526140.asp
14.08.2008 16:26
Universal Energy Corp. Announces 123% and 244% Increases in Gas and Oil Production Quantities in the 2nd Quarter 2008
HOUSTON, Aug. 14 /PRNewswire-FirstCall/ -- Universal Energy Corp. (News) (OTC Bulletin Board: UVSE), an emerging U.S. oil and gas exploration and production company, announced today that gas and oil production quantities had more than doubled during the 2nd quarter 2008 increasing by 123 percent and 244 percent, respectively over amounts produced in the first quarter of 2008.
"What a difference a quarter makes," commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued, "The increase in production coupled with the extraordinarily high prices was more than we anticipated. During the second quarter of 2008, Universal Energy Corp.'s share of production was approximately 23.58 million cubic feet of gas and 262 barrels of oil. With production having started in July 2008 for Caviar #1 and Caviar #4, production for fiscal 2008 is shaping up nicely."
The company will release its quarterly report on Form 10-Q on August 19, 2008. The earnings conference call will be August 20, 2008 at 9:00 a.m. Stockholders, brokers, analysts and all interested parties are invited to participate in the Universal Energy Corp. conference call. Callers in the United States and Canada can dial (800) 567-5900 (alternate dial-in number is (702) 835-5025. The conference i.d. for all callers is 801094.
Universal Energy Corp. is a publicly traded (OTCBB: UVSE - News) energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Louisiana and Texas. Visit http://www.universalenergycorp.info/ for more details.
Forward Looking Statements - The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
CONTACT:
Universal Energy Corp.
Billy Raley, CEO, (800) 975-2076
braley@universalenergycorp.info
Gibt es denn eigentlich hier eine seriöse Kurseinschätzung, die nicht gleich zu den Sternen greift ?
Natürlich hätte ich nichts gegen utopische Kurse, aber was ist realistisch ?
Ach was Frage ich hier eigentlich.........wir sind bei der OTC da ist alles denkbar.
Universal Energy Corp. Announces Reprocessing of 3D Seismic Data at Lone Oak Prospect
01.10: http://www.beaconequity.com/main/Page-data/...imize-Lone-Oak-Pipeline
Universal Energy Corp. (UVSE): Utilizing Necessary Data to Maximize Lone Oak Pipeline
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17.09: Universal Energy Corp. Announces Reprocessing of 3D Seismic Data at Lone Oak Prospect
HOUSTON, Sept. 17 /PRNewswire-FirstCall/ -- Universal Energy Corp. (News) (OTC Bulletin Board: UVSE), a growth oriented U.S. oil and gas exploration and production company, announced today that a world renowned processing and development services provider has been selected to reprocess the proprietary seismic data at the Company's Lone Oak prospect. The processing techniques will take four to six weeks to complete and will provide the necessary data to further develop the Lone Oak prospect.
"We want to utilize all of the information available to us in order to maximize the probability of drilling an excellent well later this year" commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued, "We will use this data along with the Wallis and Odyssey offsetting wells to fully explore Lone Oak's potential opportunities."
Universal Energy Corp. is a publicly traded (BULLETIN BOARD: UVSE) energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Louisiana and Texas. Visit http://www.universalenergycorp.info/ for more details.
Forward Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
CONTACT: Universal Energy Corp. Billy Raley, CEO, (800) 975-2076 braley@universalenergycorp.info
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01.10: Universal Energy Corp. (UVSE): Utilizing Necessary Data to Maximize Lone Oak Pipeline
Wednesday October 01 2008
Universal Energy Corp. recently announced a world renowned processing and development services provider has been selected to reprocess the proprietary seismic data at the company's Lone Oak prospect. The Lone Oak is a 3-D drill ready prospect with enormous potential. Universal Energy has acquired a 12.5% interest before casing point of this prospect with total potential reserves exceeding 136 billion cubic feet equivalent.
Three months ago, Universal Energy announced drilling at its Texas-based prospect is progressing. According to CEO Billy Raley, the company believes that the Lone Oak will be the fifth producing well for Universal Energy and its stockholders in 2008.
Drilling operations began June 5, 2008, to target multiple primary objectives in the Frio-Vicksburg trend. Drilling continued at a measured depth of approximately 4,000 feet. The total depth of the well was planned to be 12,615 feet. Surface casing installation to 2,655 feet has been installed along with blow out preventers.
Commenting on this drilling program, CFO Dyron Watford stated that Lone Oak could provide substantial upside for the previously released revenue guidance of the company's four producing wells.
Advancing the development of the Lone Oak prospect, reprocessing of the proprietary seismic data will provide necessary data to further develop the said program. The processing techniques will be completed in four to six weeks.
According to reports, the ever increasing demand for oil and natural gas has led to the development of many geophysical tools and techniques, hardware and software for detecting and mapping of unseen deposits and structures with the utmost accuracy. Current advances in data acquisitions, multi component, and multi attribute analysis have only increased the data volume by several folds.
A paramount importance for imaging underground geological structures, seismic data processing is being used all over the world to search for petroleum deposits and to probe the deeper portions of the earth. As recoverable deposits of petroleum become harder to find the costs of drilling & extraction increase, the need for more detailed imaging of underground geological structures has therefore become obvious.
Current advances in data acquisitions, multi component and multi attribute analysis have increased the data volume by several folds. Processing methods have also changed for high resolution, leading to an increase in the computational effort, which is beyond the scope of serial architecture machines.
According to Raley, Universal Energy wants to utilize all of the information available to them in order to maximize the probability of drilling an excellent well later this year. He said that the company will use this data along with the Wallis and Odyssey offsetting wells to fully explore Lone Oak's potential opportunities.
As an energy company focused in the acquisition and development of crude oil and natural gas leases in the U.S., Universal Energy pursues oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. The company's prospect areas consist of lands in Louisiana and Texas
About Universal Energy Corp.(UVSE)
Universal Energy Corp. is a publicly traded energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Louisiana and Texas. Visit http://www.universalenergycorp.info for more details.
15.10.2008 17:26
Universal Energy Corp. Announces 8th Consecutive Month of Increased Production
HOUSTON, Oct. 15 /PRNewswire-FirstCall/ -- Universal Energy Corp. (News) (BULLETIN BOARD: UVSE), an emerging U.S. oil and gas exploration and production company, announced today that gas and oil production quantities increased for the eighth consecutive month in August 2008. August 2008 production increased 21 percent over July 2008 and it was a 108 percent increase over the average monthly production of the second quarter 2008.
The wells were ordered to be shut in by the Governor of Louisiana on August 29, 2008 in preparation for Hurricane Gustav. Assessment of damages was slowed as the area was evacuated for the storm and the following week another hurricane hit the Gulf Coast area. The wells were not damaged by the storm but the production equipment was damaged on three wells. Repairs are currently being completed and the affected wells are expected to be back online within two weeks. Insurance claims have been filed and confirmed by insurance adjusters.
"Dealing with hurricanes is just part of doing business in the Gulf Coast area," commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued, "With production beginning at Amberjack yesterday, Caviar #1 later this week, and Caviar #4 in the next two weeks, we hope to continue increased production throughout the remainder of the year."
Universal Energy Corp. is a publicly traded (BULLETIN BOARD: UVSE) energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Louisiana and Texas. Visit http://www.universalenergycorp.info/ for more details.
Forward Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
CONTACT: Universal Energy Corp. Billy Raley, CEO, (800) 975-2076 braley@universalenergycorp.info
Comparison of Three Months Ended September 30, 2008 and September 30, 2007.
Revenue. Revenue for the three months ended September 30, 2008 increased $330,226 to $330,226 from $0 for the same period in 2007. The increase was attributable to successful drilling and completion efforts at our Amberjack and Lake Campo prospects that began production in December 2007 and January 2008, respectively. Production at our Caviar #1 and Caviar #4 wells began in July 2008. In August 2008, the Company’s four producing wells in Louisiana (Caviar #1, Caviar #4, Amberjack and Lake Campo) were shut-in due as ordered by the State of Louisiana for storm preparations. Production facilities at all four wells were damaged during the hurricane. Caviar #1, Caviar #4 and Amberjack were returned into production in late October 2008. When Lake Campo was returned to production, excessive water production created disposal well capacity problems and was shut-in after a few days. A workover on Lake Campo will be performed in November 2008 to perforate the Tex W-5 sand to attempt to return the well to production.
Operating Expenses. Operating expenses for the three months ended September 30, 2008 increased $114,555 (or 15%) to $861,008 from $746,453 for the same period in 2007. The increase was primarily attributable to increased amortization of debt issuance costs and penalties associated with our outstanding debentures.
Other Income (expense). Other income (expense) for the period ended September 30, 2008 decreased $432,226 to $(3,261,141) from $(3,693,367) for the same period in 2007. The increase was attributable to change in fair value of embedded derivatives and associated charges with our convertible debentures and warrants.
Net Income (loss). Net income (loss) for the three months ended September 30, 2008 was $(3,920,058) compared to $(4,439,820) for 2007. The decrease in our net loss was due to the reasons described herein above.
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Comparison of Nine Months Ended September 30, 2008 and September 30, 2007.
Revenue. Revenue for the nine months ended September 30, 2008 increased $745,231 to $745,231 from $0 for the same period in 2007. The increase was attributable to successful drilling and completion efforts at our Amberjack and Lake Campo prospects that began production in December 2007 and January 2008, respectively. Production at our Caviar #1 and Caviar #4 wells began in July 2008. In August 2008, the Company’s four producing wells in Louisiana (Caviar #1, Caviar #4, Amberjack and Lake Campo) were shut-in due as ordered by the State of Louisiana for storm preparations. Production facilities at all four wells were damaged during the hurricane. Caviar #1, Caviar #4 and Amberjack were returned into production in late October 2008. When Lake Campo was returned to production, excessive water production created disposal well capacity problems and was shut-in after a few days. A workover on Lake Campo will be performed in November 2008 to perforate the Tex W-5 sand to attempt to return the well to production.
Operating Expenses. Operating expenses for the nine months ended September 30, 2008 decreased $919,624 (or 27%) to $2,490,184 from $3,409,808 for the same period in 2007. The decrease was primarily attributable to a decrease in investor awareness expenses.
Other Income (expense). Other income (expense) for the period ended September 30, 2008 increased $5,370,673 to $1,654,027 from $(3,716,646) for the same period in 2007. The increase was attributable to change in fair value of embedded derivatives in our convertible debentures and warrants.
Net Income (loss). Net income (loss) for the nine months ended September 30, 2008 was $(386,880) compared to $(7,160,640) for 2007. The decrease in our net loss was due to the reasons described herein above.
Zu viele unterbewertete BigBoardstocks momentan...lohnt sich eher...
Das hier war wieder mal ein klasse beispiel für Ihub Pump&Dump...bessernicht mehr auf WHOOOWHEEEEEEEEWHEEEEEE reinfallen...wie gesagt gehtmeist in die Hose...
Wenn OTC dann Filings lesen und genaue DD vorher machen...
Gruss
_bbb_
Macht das Buch hier zu IMO...verlorene Zeit und Geld. (ist mir auch schon paar mal passiert)
Ich hab 250K von der Bude in Deutschland gekauft.
Ich rechne schwer damit dass es bald noch 2,5K sind für die dann zum Verkaufen die Ordergebühren höher wären.
Ich lass sie einfach liegen. Wer weiss vielleicht kommt nochmal Bewegung rein.
Entweder wenn ausdilutiert ist oder wenn eine positive News zu Loan Oke veröffentlicht wird. Vielleicht überraschen sie uns ja auch mit positiven Q4 Zahlen.
Höchstwahrscheinlich aber Split oder Insolvenz