Universal Bioenergy Inc. is an independent diversified energy company, headquartered in Irvine, California. Our common stock is presently listed on the OTC Pink Sheet Markets trading systems under the trading symbol UBRG. Universal Bioenergy Inc. was incorporated on August 13, 2004 in the State of Nevada. Our primary business focus is the production, marketing and sales of natural gas, petroleum, coal, propane and alternative energy. Through our subsidiary, we presently 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 United States. We are also engaged in the acquisition of oil and gas fields, lease acquisitions, and development of newly discovered or recently discovered oil and gas fields, re-entering existing wells, transmission and marketing of the products to our customer base. We are continuing our growth through an ongoing series of acquisitions, the most recent of which was NDR Energy Group LLC. In April 2010, we expanded into the natural gas energy market by the acquisition of a 49% stake in NDR Energy Group LLC, in Charlotte, North Carolina. NDR Energy markets natural gas, and was established in the State of Maryland on September 28, 2005. Through NDR Energy, we have contracts signed with 30 major utility companies in the United States, with strong Standard & Poor's credit ratings. Our customers include Southern California Gas Company, Pacific Gas & Electric, CenterPoint Energy Resources, Baltimore Gas & Electric, Memphis Light Gas & Water, Duke (Ohio & Kentucky), Michigan Consolidated and National Grid. Our gas suppliers include EDF Trading, Chevron Texaco, Conoco Phillips, Chesapeake Energy Marketing, and Anadarko. We plan to continue our growth by means of mergers and acquisitions of other companies in the natural gas, petroleum and alternative energy industries. This may also include liquefied natural gas (LNG), compressed natural gas (CNG), and acquisitions of patented energy technologies.
Universal Bioenergy Inc., an independent diversified energy company, focuses on the production, marketing, and sale of natural gas, oil, and alternative energy. The company, through its 49% owned subsidiary, NDR Energy Group LLC, sells natural gas to 28 public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the United States. The company also engages in the acquisition of oil and gas fields, lease acquisitions, and development of newly discovered or recently discovered oil and gas fields, re-entering existing wells, transmission and marketing of the products to its customer base. In 2011, the company announced that Progas Energy Services had stuck oil and gas on various wells that it had drilled in the Northwest Premont oil and gas field in Jim Wells County, Texas. Customers The company’s customers include Southern California Gas Company, Pacific Gas & Electric, CenterPoint Energy Resources, Baltimore Gas & Electric, Memphis Light Gas & Water, Duke (Ohio & Kentucky), Michigan Consolidated, National Grid, Brooklyn Union Gas, Nicor Gas, Entergy (Texas and Gulf States), and CenterPoint Energy Resources. Suppliers The company’s gas suppliers include EDF Trading, Chevron Texaco, Conoco Phillips, Chesapeake Energy Marketing, Total SA, and Anadarko. History Universal Bioenergy Inc. was incorporated in 2004 in the state of Nevada, under the name of Palomine Mining Inc. In 2007, the company changed its name from Palomine Mining Inc., to Universal Bioenergy Inc. to better reflect its new business plan and strategic direction.
Company Forecasts Exports of Coal With Estimated Sales of $108 to $270 Million Annually
IRVINE, Apr 05, 2013 (GLOBE NEWSWIRE via COMTEX) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, petroleum and coal, is in advanced negotiations for an agreement with a company in China to sell them large quantities of high thermal steam coal for electric power production. The agreement is expected to have provisions to expand the sales of coal from $108 to $270 million annually based on their growing demand.
The Company is intending to sell an estimated 1,200,000 to 3,000,000 tons of high grade thermal steam coal per year for the next 3 years for export to the company in China. The total estimated amount of coal to be delivered for the next 3 years is estimated at 3,600,000 to 9,000,000 tons at an estimated $90.00 per ton. The total estimated value of the transaction is $324 to $810 million over the next 3 years.
According to the International Energy Agency (IEA) in its annual Medium Term Coal Market Report, coal's share of the global energy mix continues to rise, and by 2017, coal will come close to surpassing oil as the world's top energy source. The report says China and India lead the growth in coal consumption over the next 5 years, with China surpassing the rest of the world in coal demand during the outlook period.
Universal's Senior Vice President Solomon Ali states, "We are forecasting the sales of coal could generate an estimated $12 to $36 million in annual earnings. We cannot guarantee an actual valuation, however according to industry valuation standards using average P/E ratios from Standard & Poor's, at a multiple of 15 times earnings, a valuation of $180 to $540 million dollars is an estimate of the potential additional market capitalization value of this transaction to Universal. Although we can provide no assurances the negotiations will result in a completed transaction, we believe these estimated earnings should have a positive impact on the value of the Company and the price of our stock."
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.
CONTACT: Media Relations:
Solomon Ali at 704-837-5705
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KEYWORD: IRVINE
INDUSTRY KEYWORD: Energy Industries
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