UVSE - Gas-und Öl-Highflyer startet durch in USA
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in usa warten alle sehr gespannt darauf, ich denke, wenn die zahlen wirklich so bestätigt werden wie vermutet, gibt es bis zum wochenende einen steilen anstieg.
04.08.2008 17:31
Universal Energy Corp. Announces Increased Production at its Caviar Wells
HOUSTON, Aug. 4 /PRNewswire-FirstCall/ -- Universal Energy Corp. (News) (OTC Bulletin Board: UVSE), an emerging U.S. oil and gas exploration and production company, announced today that gas production has continued increasing at both Caviar #1 and Caviar #4 since initial production began in July.
"We will continue to open up the wells and increase flow as we work them into their final production levels," commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued, "We are extremely pleased with the ease that these wells came online and look forward to many years of substantial production."
Universal Energy Corp. is a publicly traded (BULLETIN BOARD: UVSE) energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Louisiana and Texas. Visit http://www.universalenergycorp.info/ for more details.
Forward Looking Statements - The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
CONTACT:
Universal Energy Corp.
Billy Raley, CEO, (800) 975-2076
braley@universalenergycorp.info
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Universal Energy Group Releases Third Quarter Financial Results and Operational Updates
TORONTO, ONTARIO, Aug 12, 2008 (Marketwire via COMTEX) -- Universal Energy Group Ltd. ("Universal Energy Group") (TSX:UEG) is pleased to announce the release of its financial results for the three and nine month period ended June 30, 2008 of its gas and electricity marketing division, Universal Energy Corporation ("Universal"), its ethanol division, Terra Grain Fuels Inc. ("TGF") and its home services division, National Home Services ("NHS").
Highlights for the third quarter ended June 30, 2008:
- Universal's operational revenue up 75% to $104.0 million; YTD up 73% to $294.6 million.
- Universal's operational margin up 74% to $18.2 million; YTD up 68% to $51.0 million.
- Universal's operational income after customer acquisition costs up 1,393% to $8.9 million; YTD up 112% to $16.9 million.
- Universal's gross customer adds of 20,149 RCEs; Attrition of 22,243 RCEs annualized to 15.2% .
- Universal's YTD net customer additions of 63,811 RCEs; Ending customer base of 427,131 RCEs.
- TGF's Belle Plaine facility commenced production on May 31, 2008.
- NHS introduced a water heater rental program. Its operations are still in the start-up phase.
- Initiation of $0.75 per common share annual dividend, payable quarterly. The first dividend payment will occur on September 30, 2008.
Universal earned revenue for the three and nine months ended June 30, 2008 of $91.5 million and $320.2 million compared to $52.4 million and $178.0 million for the 2007 period. Gross margin for the three and nine months ended June 30, 2008 was $28.2 million and $89.5 million compared to $20.8 million and $61.4 million for the 2007 period. Net income for the three and nine months ended June 30, 2008 was $27.7 million and $60.1 million compared to a loss of $22.0 million and $2.0 million for the 2007 period.
Universal uses the concepts of "operational revenue", "operational margin", "operational income before marketing costs" and "operational income after marketing costs" to adjust for the differences between revenue recognition and delivery/payment that exist in its natural gas business and for the effect of the financial swaps used in its electricity business. Please refer to our management's discussion and analysis ("MD&A") for an explanation of how these non-GAAP measures are calculated and for a reconciliation to the most comparable GAAP measures reported in Universal's financial statements for the three and nine months ended June 30, 2008.
Universal earned operational revenue for the three and nine months ended June 30, 2008 of $104.0 million and $294.6 million compared to $59.6 million and $170.5 million for the 2007 period. Operational margin for the three and nine months ended June 30, 2008 was $18.2 million and $51.0 million compared to $10.4 million and $30.4 million for the 2007 period. Operational income before customer acquisition costs for the three and nine months ended June 30, 2008 was $11.9 million and $32.4 million compared to $6.5 million and $20.4 million for the 2007 period. Operational income after customer acquisition costs for the three and nine months ended June 30, 2008 was $8.9 million and $16.9 million compared to $0.593 million and $7.9 million for the 2007 period. Universal's gross customer additions for the quarter were 20,149 RCEs. Attrition during the quarter was 22,243 RCEs (representing an annualized attrition rate of 15.2% across all markets) for a total customer base at June 30, 2008 of 427,131 RCEs.
TGF's Belle Plaine Facility commenced production on May 31, 2008. Initial production runs of Ethanol and Dried Distillers Grains revealed that a component of the plant's evaporation system was under-designed and requires an upgrade. The expense related to the upgrade is to be covered by the general contractor. Until such time as the component is installed the plant is expected to operate at 80% of design capacity.
NHS is in the start-up phase of its operations. As at June 30, 2008 NHS has installed 2,427 water heaters in residential homes and anticipates earning revenue from its installed base in Q4-2008.
With the Company's ongoing maturation and strong cash flow generation profile a quarterly cash dividend policy was approved on June 11, 2008. On an annual basis, the cash dividend is expected to be $0.75 per common share. The Company's first dividend payment of $0.1875 per common share will be paid on September 30, 2008 to shareholders of record on September 15, 2008.
Universal Energy Group's unaudited interim consolidated financial statements for the three and nine months ended June 30, 2008 and 2007 and MD&A attached hereto are part of this news release. See "Forward-looking information" and "Non-GAAP measures" in the attached MD&A for cautionary information regarding forward-looking statements and discussion of "Non-GAAP measures".
Universal Energy Group's common shares are listed on the Toronto Stock Exchange under the symbol "UEG". Universal Energy Group through its subsidiary Universal Energy Corporation, sells electricity and natural gas in Ontario and natural gas in British Columbia to residential, small to mid-size commercial and small industrial customers. Universal Energy Group through its subsidiary Universal Gas & Electric Corporation, sells natural gas in Michigan to residential, small to mid-size commercial and small industrial customers. Universal Energy Group through its subsidiary National Energy Corporation, operating under the trade name National Home Services, sells long-term water heater rental programs to Ontario residential customers. Universal Energy Group through its subsidiary Terra Grain Fuels Inc. operates an ethanol facility near Belle Plaine, Saskatchewan. Additional information about Universal Energy Group is available on SEDAR (www.sedar.com).
14.08.2008 16:26
Universal Energy Corp. Announces 123% and 244% Increases in Gas and Oil Production Quantities in the 2nd Quarter 2008
HOUSTON, Aug. 14 /PRNewswire-FirstCall/ -- Universal Energy Corp. (News) (OTC Bulletin Board: UVSE), an emerging U.S. oil and gas exploration and production company, announced today that gas and oil production quantities had more than doubled during the 2nd quarter 2008 increasing by 123 percent and 244 percent, respectively over amounts produced in the first quarter of 2008.
"What a difference a quarter makes," commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued, "The increase in production coupled with the extraordinarily high prices was more than we anticipated. During the second quarter of 2008, Universal Energy Corp.'s share of production was approximately 23.58 million cubic feet of gas and 262 barrels of oil. With production having started in July 2008 for Caviar #1 and Caviar #4, production for fiscal 2008 is shaping up nicely."
The company will release its quarterly report on Form 10-Q on August 19, 2008. The earnings conference call will be August 20, 2008 at 9:00 a.m. Stockholders, brokers, analysts and all interested parties are invited to participate in the Universal Energy Corp. conference call. Callers in the United States and Canada can dial (800) 567-5900 (alternate dial-in number is (702) 835-5025. The conference i.d. for all callers is 801094.
Universal Energy Corp. is a publicly traded (OTCBB: UVSE - News) energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Louisiana and Texas. Visit http://www.universalenergycorp.info/ for more details.
Forward Looking Statements - The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
CONTACT:
Universal Energy Corp.
Billy Raley, CEO, (800) 975-2076
braley@universalenergycorp.info
The company will release its quarterly report on Form 10-Q on August 19, 2008.
The earnings conference call will be August 20, 2008 at 9:00 a.m.
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