IRVINE, Calif., Dec. 6, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, propane, and produces petroleum and coal, announced today that its major goal for the final part of 2012 and early 2013 is to build stronger business fundamentals for the Company, and a drive to generate solid earnings for the Company. The Company intends to increase its operating income and earnings through current and future acquisitions in the energy industry, and high profit centers which will include gas storage, physical and financial gas trading, transportation, management and higher sales of natural gas, petroleum, propane, oil and coal.
The Company's plans for generating positive earnings include the following:
- Changing its strategy for obtaining our supplies of natural gas.
- Obtaining more bank funding, lines of credit, and Letters of Credit beyond its current $20 million in trade credit to purchase more natural gas for sale.
- Re-negotiating its existing supplier agreements to purchase natural gas in larger quantities, with greater economies of scale, on better terms, at lower purchase costs.
- Plans to market more thermal steam coal to sale to other major coal producers, its electric utility customers for power generation, and to the global energy market.
- Sales and distribution of propane, electric power and refined energy products with higher profit margins.
Universal's President Vince M. Guest states, "We are in the relentless pursuit and drive toward building a company with stronger business fundamentals, financials, and positive earnings and profitability. Our major focus is the aggressive pursuit of increasing returns to our investors, and bringing maximum wealth to our shareholders. We believe that implementing these strategies should increase our earnings, and have a very positive effect on the price of our stock and our market value."
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
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784
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: For inquiries contact: Media Relations: Solomon Ali at 704-837-5705
Source:Universal Bioenergy Inc.