Universal Energy says that the site preparation at Caviar #4 is now complete. The four well prospect named Caviar lies in the prolific Middle Miocene Trend, which is located in the Plaquemines Parish of Southeastern Louisiana. Drilling is scheduled on Caviar #4 as part of the company's summer drill program to achieve wells between 9,000 and 11,000 feet deep. The potential in this oil-rich area of the United States is well documented, based on the production history of existing wells in the area such as East Point a la Hache, Pointe a la Hache, Delacroix Island Field, and E. Crooked Bayou Field.
"The company continues to make progress on all fronts," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "The progress of this four well prospect is exciting."