Universal Bioenergy Announces Major Gas Utility Awards Natural Gas Supply Contract to NDR Energy
IRVINE, Calif., June 4, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCQB: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 was awarded a contract to supply natural gas to a major utility customer. The contract is projected to generate several million dollars in additional revenue.
The contract was awarded by one of the largest electric and natural gas distribution utilities in the Mid-West. According to the parent company, it is one of the largest investor owned utilities in the nation, provides natural gas and electric service to approximately 2.4 million electric customers and more than 900,000 natural gas customers. Its parent company, traded on the NYSE, reported revenues of $6.8 billion in its 2012 Annual Report.
Universal Bioenergy's President, Vince M. Guest says, "We're very excited about the award of this new contract as it demonstrates the continued progress of our Company. Our agreement with the customer limits us from disclosing their name and some details. NDR Energy's marketing team continues to make more advances in obtaining more contract awards to sell natural gas. We expect to continue to grow our sales presence in a wide range of markets across the country. Additionally, we believe our revenues this year from the sale of natural gas, coal and electricity are expected to grow and be very strong. As the natural gas market continues to rebound, we anticipate that NDR Energy Group will reach new highs in terms of natural gas sales in the coming months. We are also making fine progress with our international coal and electric divisions and believe these will add significantly to our revenues and profits this 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.
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