Universal Energy Gets Positive Results from Flow Tests at Caviar #1 & #4

Universal Energy Corp. announced that flow tests on Universal Energy Corp.'s Caviar #1 and Caviar #4 prospects are complete. As previously announced last week, construction of the pipeline that will tie-in production from Caviar #1 and Caviar #4 is now underway. The company anticipates production from these two wells beginning July 1, 2008. During the tests, Caviar #1 and Caviar #4 flowed in excess of 4.3 million cubic feet per day ("MMcf") and 4.2 MMcf per day, respectively.

"The results from the tests are excellent and demonstrate the outstanding reserves located in this area," commented Billy Raley CEO of Universal Energy Corp. "With prices of natural gas at over $11.00 per thousand cubic feet ("Mcf"), it's clear that these wells are significant and that they will be instrumental in our top line growth for 2008."


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Materials Clerk
Expertise: Materials Management |Warehouse Person
Location: Rosemount, MN
Margin Optimization Analyst
Expertise: Accounting|IT - SAP / ERP|Refinery Specialist
Location: Dallas, TX
Foreman Fleet Operations
Expertise: Logistics Management|Operations Management
Location: Midland, TX
search for more jobs

Brent Crude Oil : $50.2/BBL 3.29%
Light Crude Oil : $47.89/BBL 3.34%
Natural Gas : $2.94/MMBtu 1.37%
Updated in last 24 hours