IRVINE, CA--(Marketwired - Mar 12, 2014) - Universal Bioenergy Inc. (OTCQB: UBRG), a publicly traded independent diversified energy company, announced today that it is in talks with a company for a major joint venture to launch a new initiative to generate revenues through natural gas, electricity and other energy product contracts.
In its plans for growth and expansion, Universal Bioenergy has been in talks with a company to form a strategic alliance to generate higher revenues and profits in the next 12 months. The Company is forecasting that it could generate an estimated $100 million in revenues, and earn an estimated $2 to $20 million in profits from the energy contracts. Both parties are in discussions to initially sign a Letter of Intent, and then move forward with a definitive agreement.
Universal Bioenergy is a high growth diversified energy company that is experiencing double-digit growth. On March 6, 2014, Universal Bioenergy released its fiscal Second Quarter Financial Results, and announced that its sales were up 12.78% to $32.57 million over the same period last year. It reduced its expenses by 53.00% and its debt by 25.60%.
On March 7, 2014, the Company announced that its subsidiary NDR Energy Group is projecting record sales of natural gas for March 2014. The 2.45 billion cubic feet (Bcf) of natural gas sold is the highest in NDR's history for March and is projected to produce an estimated $12.13 million in gross revenues for March. The $12.13 million in sales for March 2014, equals 318% of the $3,809,176 in gross sales that NDR Energy posted in March of 2013.
Universal's President Vince M. Guest states, "We are very excited about this proposed joint venture and strategic alliance to generate higher revenues and profits for the Company. We believe the Company will continue to experience significant growth in revenues and profits in the next 12 months through the contracts for natural gas and electric power. We anticipate providing more information to the public as these talks advance in various stages of development to a proposed final contract. We feel this could have a very positive effect on our stock price and our shareholders."
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
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.