Universal Bioenergy in Talks to Buy Coal Mines for Major Exports of Coal to Asia and Europe
Company Projects an Estimated 200,000 to 300,000 Tons of Coal Each Month to Export
IRVINE, Calif., April 1, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, petroleum and coal, announced its acquisition team in is talks with owners of coal mines throughout the U.S. as potential acquisition targets to the meet the demands of its growing customer base. The Company's new international coal division was established in February 2012 to meet the growing demand for coal in the global market place. The Company forecasts that it will need an estimated 200,000 to 300,000 tons of coal each month to export.
The Company's executives have visited and/or toured several coal mines to secure additional high quality thermal steam coal reserves and supplies that meets the short and long-term needs of its customers. These include high walled surface mines and underground mines. The Company intends to export the coal to its growing customer base for export to several countries in Asia, including China, Japan, South Korea, Vietnam and several European countries including Germany, England, Ireland and Poland.
Universal's President Vince M. Guest states, "We are very excited about our new international coal sales division. It is up and running and we are preparing to sell high grade thermal steam coal and mettalurgical coal for export to the international marketplace. At an estimated $90.00 per ton, this could potentially generate an estimated $18 to $27 million in additional revenues and an estimated $2 to $3 million per month in gross profit."
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, 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.
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