IRVINE, Calif., July 3, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG.PK), a publicly traded independent diversified energy company, that markets and distributes natural gas, propane and coal, announced that NDR Energy Group, its subsidiary, was awarded a contract to supply natural gas to one of the largest gas and electric utility companies in the United States.
Under the terms of the contract NDR Energy Group is to supply the customer with an estimated 35,000 mcf per day, or a total of 1.085 billion cubic feet (bcf) of natural gas for the month of July, 2012. The contract is projected to generate millions of dollars in revenue.
NDR Energy Group was awarded the contract by one of the largest combination natural gas and electric utilities in the United States. The Utility serves approximately 5.2 million electricity distribution customers and approximately 4.3 million natural gas distribution customers throughout a 70,000-square-mile service area on the west coast. Its parent company is traded on the NYSE and reported revenues of $15.0 billion in its 2011 annual report.
Universal Bioenergy is a high growth company that is rapidly growing at double-digit rates. NDR Energy Group markets and distributes natural gas and propane under contract to 29 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the country.
Universal's President Vince M. Guest states, "We are very excited about the award of this contract to supply natural gas to one of the largest gas distribution companies in the U.S. This gives us another opportunity to partner with a subsidiary of another multi-billion dollar Fortune 500 company. We are constantly working to sell more gas on term deals and power generation with our existing customers and expanding customer base. We anticipate more contract awards similar to this one, and even larger transactions in the near future. We are also looking for other uses of natural gas in the industry to expand our company and our market share."
The contract limits NDR Energy from disclosing the customer's name and certain details of the transaction.
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
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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.