RVINE, Calif., Jul 20, 2010 (GlobeNewswire via COMTEX) — Universal Bioenergy Inc. (Pink Sheets:UBRG), an alternative energy company, announced today that it is in talks to obtain natural gas directly from the gas producers, with an estimated market value in the millions of dollars annually.
Universal is in discussions to obtain the gas from Rainco Industries, a party in which a director of Universal holds a position, that will arrange to supply the gas directly from various natural gas producers. The intent is for the producers to supply Universal with an estimated 18.25 million MMBtu’s annually.
The gas would be marketed by NDR Energy Group to its 22 major utility customers.
If the transaction is completed, the potential net profit to Universal could be significant.
Details regarding this transaction will be announced upon the signing of formal Letters of Intent. Although management is aggressively pursuing these opportunities, there can be no assurances that such acquisitions can be made, or if made, will be profitable for Universal.
About The Company
Universal Bioenergy Inc. is an alternative energy company, and intends to create and market natural and alternative energy sources including natural gas, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784
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.
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SOURCE: Universal Bioenergy Inc.
CONTACT: Universal Bioenergy Inc.
Fax: (866) 377-2138