IRVINE, Calif., Aug. 27, 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 it achieved sales revenue of over $33.63 million for the first six months of the year for the period ending June 30, 2013. The $33.63 million in revenues results in a 56.00% increase in revenues over the $21.62 million in revenues reported for the first six months of 2012. The sales reflect a growing demand for natural gas from its major electric utility customers.
Universal's President Vince M. Guest says, "We are very encouraged by the strong performance and increase in our revenues for the first six months of the year. Our revenues for the first six months of 2013 are equal to 156% of our revenues for the same period last year and we are projecting strong revenues and growth throughout the rest of this year. NDR Energy Group continues to break new sales records in terms of gas volume, as was demonstrated in April and June of this year. We are working on more contract awards of natural gas, refined energy products, coal and electricity in an effort to move the Company toward solid profitability. We are building greater momentum each month, and are very confident in our plans for the long-term growth of the Company. We anticipate sharing more strategic news with our shareholders about our plans for growth shortly."
These revenues reported herein are preliminary and unaudited. The Company anticipates the formal audit of their financial records will be completed soon, and the full details of its financial results will be reported in its Form 10-K Annual Report, to be filed with the SEC.
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.
CONTACT: For inquiries contact: Media Relations: Solomon Ali at 704-837-5705Source:Universal Bioenergy Inc.