N*E*W*S IRVINE, Calif., April 18, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, electricity, propane, petroleum and coal, announced that its subsidiary, NDR Energy Group, sold over 1.14 billion cubic feet (Bcf) of natural gas, setting a new record for the month of March of 2013. The record sales of natural gas is expected to generate millions of dollars in additional revenue for the Company.
The volume of natural gas sold by NDR Energy set a new record for March. The volume of gas sold is the highest in the Company's history for March and tops the previous record sales of 1,019,679 MMBtu's of gas sold in March of 2011. The 1.14 Bcf of natural gas sold in March, is a 12.5% increase over the 1,019,679 MMBtu's of natural gas sold for the month of March 2011, and a 377.77% increase over the 240,095 MMBtu's sold in March 2010. Natural gas prices are continuing on a strong upward trend. The Henry Hub spot price increased from $4.00 per million British thermal unit (MMBtu) to $4.07 per MMBtu. Mirroring movements in the spot price, the New York Mercantile Exchange (NYMEX) near-month (May 2013) futures price increased from $3.900 per MMBtu last Wednesday to $4.39 per MMBtu yesterday.
Universal's President, Vince M. Guest says, "NDR Energy is continuing its emphasis on longer term transactions, spot market sales, and power generation. Our increased monthly sales to our electric utility customers demonstrates that we intend to be very aggressive this year in increasing our sales volume, revenues and margins after the soft market we experienced in the first quarter of last year."
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, electricity, 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.
Contact:
Media Relations:
Solomon Ali at 704-837-5705
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