Universal Energy Corp (UVSE)

[carl2591]

4 income producing wells!!!.. is that all. it cost $40-$50 a barrel to produce oil.. with oil at $40 they are not making money with the cost to keep the wells up and such..

go to hemi board and see the letter to share holders they posted it most likely in IBOX now.. read how much it costing them to keep 3 times that many wells going and they only had a profit of $8,000 buck last year.. oil sales only produced $136,000 dollars and it took some $300,000 for maintenance..

this pos is dead money and so is the CEO





Posted by: techno53 Date: Monday, March 02, 2009 11:28:18 AM
In reply to: eddy2 who wrote msg# 23040 Post # of 23076 [Send a link via email]
All Speculation. None of you know what USVE is contemplating. The last email I received from Raley was they were exploring all options. Why would a company with 4 income producing wells slide to the pinks. The stocks that slide to the pinks are the ones with no source of income. This company is just riding out the CD conversions.

The company is worth more if they institute a stock purchase plan. Also, with their low debt and income producing wells, they are a prime company to be purchased by another oil company.