To repeat for some and to those who are new:
Raley, ""We are extremely pleased with the ease that these wells came online and look forward to many years of substantial production."
Here are a few other reasons why there is such a strong following for UVSE.
"This growth story is really beginning to take shape" Raley.
Our production has grown from $30,000 a month at the beginning of the year to what we estimate will be close to $300,000 next month (which was "July")
The Company reported net income of $2.9 million, or $0.09 per basic share for the second quarter of fiscal 2008 compared to a net loss of $2.03 million, or $(0.07) per basic and diluted share, for the second quarter of fiscal 2007.
For the six months ended June 30, 2008, the Company reported net income of $3.55 million, or $0.11 per basic share, $0.01 per diluted share, for the six months ended June 30, 2008 compared to a net loss of $2.7 million, or $(0.10) per basic and diluted share, for the same period in fiscal 2007.
Revenue for the second quarter of fiscal 2008 totaled $0.33 million which was derived from producing wells in the Company's Lake Campo and Amberjack prospects.
Dyron Watford, Universal Energy Corp. Chairman and CEO, commented, "Exceeding the high end of our revenue guidance for the quarter by 11% is fantastic. As we continue to increase revenues with production in the 3rd quarter from Caviar #1 and Caviar #4, the financial picture for Universal Energy becomes more solid with each day of production.
Universal Energy Corp. Announces 123% and 244% Increases in Gas and Oil Production Quantities in the 2nd Quarter 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."
This is why fair value is CAN NOT be .0155
It is under valued.
You look for GROWTH in a company.
This company is ALL about growth.
The Caviar wells are still opening!!!
And for those who like forward looking statmentes, They have 3 more wells at Lone Oak that show very good promise and their record for finding worth while wells is excellent!
Just a small reminder and or insight and all Facts.
AI
