Universal Gets Revenue from Amberjack Prospect for Dec. Production
Universal Energy Corp. obtained the receipt of its first revenue from oil and gas production. This revenue was a result of production that occurred at Universal Energy's Amberjack prospect in December 2007. The Amberjack prospect was placed into production in late December 2007.
" We raised capital from institutional investors in September 2007 for our oil and gas operations and that resulted in revenue in December 2007. That's truly amazing by any account," commented Dyron Watford, CFO of Universal Energy Corp. Watford continued, "Acquire, drill and produce. It's still our model, and with each passing day it proves itself to be an effective one."
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