Universal Energy Corp (UVSE)

[assassin17]

I think I'm reasonably close on Caviars. Here's my reasoning:

1) My notes from the Q1 2008 conference call (available on their website):

Caviar: 
  Pipeline to TSEGG should be complete within 45 days 
  Tested on February 28 and 29, respectively: 
  Both over 4.0 mmcf/day 
  Will probably flow at lower rate [3.0+ mmcf] so as not to damage them

2) Two press releases announcing Caviar production increases:

7/14/2008 - "announced today that component installation on the production barge was completed as scheduled and that production at Caviar #1 and Caviar #4 began last week. Since coming online, both Caviar #1 and Caviar #4 have produced well and now will start ramping up their production."

8/4/2008 - " announced today that gas production has continued increasing at both Caviar #1 and Caviar #4 since initial production began in July. 'We will continue to open up the wells and increase flow as we work them into their final production levels,' commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued"

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At the least, they should be getting 3000 mcf/day from each Caviar. The increases likely have them approaching 4000 mcf. Unless they started the wells at even slower than 3000 mcf, and were increasing to 3000 rather than from that amount. But rather than speculate, I worked with the two numbers they made available. I assume they started producing at 3000, and ramped up towards 4000.