Universal Energy Corp.s Rapid Growth Initiative Continues With Another Significant Oil and Gas ProjectUniversal Energy Corp. (OTC Bulletin Board: UVSE – News), following its business plan for the rapid expansion of its oil and gas business, has entered into a participation agreement for another significant oil and gas prospect in Southeastern Louisiana.admin
Universal Energy Corp., following its business plan for the rapid expansion of its oil and gas business, has entered into a participation agreement for another significant oil and gas prospect in Southeastern Louisiana.
Known as Lake Campo, this 3-D prospect has proven but undeveloped reserves that are located in the prolific Middle Miocene Trend, which stretches across most of Southeast Louisiana. This low risk prospect targets ten high quality, regionally consistent Miocene age sand objectives.
Billy Raley, CEO of Universal Energy Corp. commented, “This agreement with Yuma Exploration and Production Company has strengthened our land portfolio. The level of experience and working history of YUMA and their personnel has really impressed us.”
Drilling is scheduled to begin on this project within the next 60 days to achieve wells around the 10,500-foot depth. This prospect is located in a proven oil-rich area of the United States through the abundant well control and the production history of the wells in the immediate area.
“Adding this quality prospect at Lake Campo to our increasing land portfolio continues Universal’s business plan of rapidly expanding our oil and gas business,” Raley added.
About Universal Energy Corp. — Universal Energy Corp. is a diversified energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. 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 Alberta, Canada and Southeastern Louisiana. Visit www.universalenergycorp.info for more details.
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Source: Universal Energy Corp.