updated 2/3/2011 6:45:55 AM ET 2011-02-03T11:45:55

IRVINE, Calif., Feb. 3, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG), an alternative energy company, announced that its subsidiary, NDR Energy Group, has signed an agreement with Mt. Dora Florida based New Horizons Energy Group LLC to provide it with natural gas and energy services consulting to create additional revenue streams to increase its profits.

New Horizons Energy Group will provide energy services directly to the Company that were previously being provided by its gas suppliers at significantly higher costs. New Horizons will provide natural gas scheduling, nominations, daily gas monitoring, capacity release for procurement and sales, and pipeline balancing at a much lower cost, resulting in more profit to the Company. Other services provided will include risk management, hedging policy, procurement and management of gas storage assets, and managing operating accounts for designated pipelines. They will help procure natural gas at lower prices by aggregating supplies of independent producers and negotiations of gas purchase contracts.

"We achieved over $20 million in revenue by the end of the third quarter in 2010. However, this major step allows us to be highly profit driven, and potentially create several million in earnings from higher profit margins on the sales of gas. Now, as we procure our gas supplies directly from producers, we'll manage these essential operations, and manage our entire gas portfolio all at a lower cost, through New Horizons, and keep the profit from these services ourselves. We feel this should build greater shareholder value, and give us a greater competitive advantage in the marketplace," says Universal's President Vince Guest.

New Horizon Energy Group management has over 40 years of combined experience in natural gas and energy services, which includes natural gas planning, gas supply and pipeline management, power supply planning transactions, natural gas financial and rate analysis, and load and revenue forecasts for Local Gas Distribution Companies (LDC's), commercial companies, and Municipal Utilities.

About The Company

Universal Bioenergy Inc. is an alternative energy company, and intends to create and market natural and alternative energy sources including natural gas, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.

For inquiries contact: Media Relations at 888-263-2009

The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784

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: Vince Guest
         Universal Bioenergy Inc
         Phone: (888) 263-2009
         Fax: (951) 281-4653
         19800 MacArthur Blvd., Suite 300
         Irvine, CA 92612

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com