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Gushing Over
New Discoveries: Universal Energy Corp. (OTCBB:UVSE)
By Glenn Wilkins -
AllPennyStocks.com News Reporter
November 28, 2007 (AllPennyStocks.com
Media, Inc.) – Petroleum is holding the same allure these days
as capital itself, largely due to its scarcity. While the same
attitude of panic has not set in as during the so-called
“Energy Crisis” of the 1970s, the search for oil remains an
urgent one, and investors in the firms that conquer the oil
fields continue to bear this fact in mind, especially with
crude prices aiming skyward once more.
All the more reason small cap investors should hearken to the
latest findings by Florida-based Universal Energy Corporation
(OTCBB:UVSE), a company actively on the prowl for
crude oil and natural gas leases throughout North America. The
company, which trades on the Over-the-Counter stock market
under the symbol UVSE, actively pursues oil and gas prospects
in partnership with other oil and gas companies who possess
exploration, development and production expertise. The
company’s prospect areas consist of lands in Louisiana, Texas,
and north of the border in Canada’s oil-rich Alberta province.
Universal, when last contacted, was ready to
begin oil production on its Amberjack prospect this month in
the Bayou land. The timing of the development was encouraging,
given the rise in petroleum to $100 U.S. The company is
currently on other prospects in Louisiana, the East OMG
project being one of them. Wells next to the prospect have
produced outstanding returns, the company notes, some upwards
of 800 billion cubic feet equivalent (BCFE) of natural gas.
Another is the W. Rosedale 3-D prospect elsewhere in the
state, near which significant oil and gas deposits have been
found. The reserve potential has been pegged as 3.5 billion
cubic feet of natural gas and 910,000 billion barrels.
Other recent findings took place on another Louisiana site
known as Lake Campo. Drilling operations reached the target
depth of the well in Lake Campo and an analysis of the well
log was performed. A Universal press release issued on the
last day of October reported that the well log analysis showed
46 feet of gas pay through four sections of the well. Based on
this exciting news, the company decided to install production
casing for the well. It’s the third commercial discovery of
oil and gas for Universal in just the previous eight weeks.
The last, but not least, of the finds was in the Caviar #1
prospect, also located in Louisiana, causing CEO Billy Raley
to remark, “three for three is not bad. Our prospect portfolio
is proving its merit with each turn of the drill bit.”
The company, founded only five years ago as Universal Tanning
Ventures, also owns in the Pembina oil field located in
north-central Alberta. The name changes to Universal Energy
took place last year, for the company headquartered in the
Florida town of Lake Mary.
UVSE aims to build shareholder value by creating a
well-capitalized growth platform that provides an underlying
base of assets and cash flow; a discipline to reducing risk by
drilling in areas with proven exploration opportunities and by
acquiring growth-oriented profitable companies. Such
acquisition targets would include small to medium-sized energy
companies displaying strong revenue growth and significant
cash flows.
As for the management team overseeing these developments,
Raley joined the company five years ago, having previously
served as regional vice-president for Progress Energy Florida
and before that, Carolina Power & Light. His career in the
energy industry spans 25 years.
Chief Financial Officer Dyron Watford is a Certified Public
Accountant who has also been with the company since 2002.
Before joining Universal, Watford helmed Sirus Capital
Corporation, a consulting firm to many private and public
companies. Chief Exploration Officer Kevin Tattersall has been
in the resource exploration business for 25 years, the last
decade of which has been devoted to the oil and gas
industries. He also serves as president and CEO of Angels
Exploration Fund, which has financed numerous tax-deductible
drilling programs in Northern Alberta.
The stock has been in the lower half of a 52-week range,
around the dollar U.S. mark. After a spike last July of $2.52,
the price slid to 62 cents during August before rallying. But
just on the basis of what the company has been able to get
rolling in Louisiana, stock watchers owe it to themselves to
take Universal seriously, as it aims to score more lucrative
projects elsewhere in the North American oil patch, finding
strikes that will produce maximum value for themselves and
their shareholders.
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delays in the content, or for any actions taken in reliance
thereon.
Although the majority of
AllPennyStocks.com reports are independent, it has received
compensation for carrying the report on Universal Energy Corp., the compensation is
three thousand dollars by a non-affiliated third-party,
StockGuru for its efforts in presenting the UVSE profile on
its web site and distributing it to its database of
subscribers as well as other services. This creates an inherent
conflict of interest and readers are encouraged to view the
main disclaimer at
/aps_us/company_spotlights/archives/uvse.asp
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