Universal Bioenergy Inc. (OTCQB: UBRG), a publicly traded independent diversified energy company that markets and distributes natural gas, propane, petroleum and coal, announced that its subsidiary NDR Energy Group, has established a new division to expand into the sales of natural gas sales in the spot market and daily and weekly gas sales. This expansion into the spot market and daily sales of natural gas is projected to have a major impact on the gross margins and earnings of the Company as it moves forward in its drive towards profitability.
For many years, NDR Energy has sold base load or term gas transactions of one to six months contracts, to some of the largest utilities and end users in the United States. The daily spot market for the sales of natural gas is very active, and trading can occur 24 hours a day, seven days a week, which could generate significant earnings for the Company. The gross margins in the spot market can be in the range of $0.05 to $0.25 or more, and sometimes as large as $3.00 to $8.00 or more per mcf for gas, based on the seasonality of the gas sales.
NDR Energy Group is projected to generate an estimated $12.13 million in gross revenues for March. The estimated sales of $12.13 million, exceeds the combined gross revenues for the past four March sales periods at NDR Energy. The $12.13 million in estimated sales for March 2014 equals 318% of the $3,809,176 in gross sales that NDR Energy posted in March of 2013.
NDR Energy Group's President and CEO, Ken Harris, stated, "For many months, many of our utility customers across the country have requested that we initiate daily gas sales to supplement our base load relationships. Newer potential customers would like to emphasize purchasing daily gas from NDR. Our Vice President of Business Development, Rickey Hart has marshalled and cultivated these growing requests. Although implementing a daily gas division will increase the complexity of our operations, selling daily gas will, likely, substantially increase our volumes and greatly enhance our margins."
NDR Energy Group, a subsidiary of Universal Bioenergy , sells natural gas to many of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customer in the United States.
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
For inquiries contact: Media Relations: Solomon Ali at 704-837-5705 or Jelani Hill 704-343-2620
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.
For inquiries contact:
Media Relations
Solomon Ali
704-837-5705
Jelani Hill
704-343-2620
SOURCE: Universal Bioenergy Inc.
Source: eTeligis (March 11, 2014 - 7:25 AM EDT)
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