Universal Energy Group Ltd.
TSX : UEG

Universal Energy Group Ltd.

July 31, 2008 18:42 ET

Universal Energy Group Provides Update on Ethanol Operations

TORONTO, ONTARIO--(Marketwire - July 31, 2008) - Universal Energy Group Ltd. ("Universal Energy Group") (TSX:UEG) is pleased to announce that its BioFuels subsidiary, Terra Grain Fuels Ltd. ("TGF") will be holding its official grand opening ceremonies for its 150 million litre production facility located in Belle Plaine Saskatchewan, on August 8, 2008. The Belle Plaine Facility commenced operations on May 31, 2008, and is now ramping up to performance guarantee levels at which time the contractor group will have completed its onsite activities. Initial production runs of Ethanol and Dried Distillers Grain ("DDG") revealed that a component of the plant's evaporation system was under designed and requires an upgrade. The expense related to the upgrade is to be covered by the general contractor. Until such time as the component is installed the plant is expected to operate at 80% of design capacity.

Universal Energy Group's common shares are listed on the Toronto Stock Exchange under the symbol "UEG". Universal Energy Group through its subsidiary Universal Energy Corporation, sells electricity and natural gas in Ontario and natural gas in British Columbia to residential, small to mid-size commercial and small industrial customers. Universal Energy Group through its subsidiary Universal Gas & Electric Corporation, sells natural gas in Michigan to residential, small to mid-size commercial and small industrial customers. Universal Energy Group through its subsidiary National Energy Corporation, operating under the trade name National Home Services, offers Ontario residential customers a long term water heater rental program. Universal Energy Group through its subsidiary Terra Grain Fuels Inc., is constructing an ethanol facility near Belle Plaine, Saskatchewan that is designed to produce approximately 150 million litres of ethanol annually. Additional information about Universal Energy Group is available on SEDAR (www.sedar.com).

Contact Information

  • Terra Grain Fuels
    Tim J. LaFrance
    President
    (403) 262-8182
    Email: timl@terragrains.ca
    or
    Universal Energy Group Ltd.
    Stephen Plummer
    Chief Financial Officer
    (416) 673-1160
    Email: splummer@uegl.ca
    or
    Universal Energy Group Ltd.
    Shawn Dym
    Senior Vice President, Business Development
    (416) 673-4761
    Email: sdym@universalenergy.ca