UBRG- Gas Jumps 35.45%, to $28.15 Million
Universal Bioenergy Announces NDR Energy Group's Sales of Natural Gas Jumps 35.45%, to $28.15 Million
IRVINE, Calif., June 13, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, electricity, petroleum and coal, announced that its subsidiary, NDR Energy Group, sold an estimated 8.44 billion cubic feet (Bcf) of natural gas for the first six months of this year. The estimated sales of natural gas is expected to generate a projected $28.15 million in revenues for the period ending June 2013, which is a 35.45% increase over the $20.78 million in revenue generated in gas sales for the same period in 2012. This should help propel the Company's drive toward stronger sales and earnings this year.
The 8.44 (Bcf) of estimated sales of gas sold from January through June 2013, represents a 4.67% increase, or 0.376 billion cubic feet (Bcf), over the 8.069 (Bcf) of gas sold during the same period in 2012. The estimated volume of natural gas sold by NDR Energy for this period is one of the highest in NDR Energy's history.
Universal Bioenergy is a high growth diversified energy company. Through its subsidiary, NDR Energy Group, it has contracts to sell natural gas to 30 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the country.
Universal Bioenergy's Senior Vice President, Solomon Ali says, "We are very excited about the 35.45% increase in the sales of natural gas from NDR Energy so far this year. There now appears to be a greater degree of upturn in the industry in terms of demand and price, as compared to last year. NDR Energy has broken new sales records in terms of gas volume for the months of April and June this year alone. We anticipate continued sales increases throughout the rest of this year. We are very confident about our long-term plans for the future, not only for increased sales of natural gas, but our aggressive marketing efforts for significant sales of wholesale electricity, solar energy, international coal sales, petroleum and more strategic acquisitions. We believe this will bring greater value to our shareholders."
