Universal: Amberjack to Spud by Month's End

Universal Energy Corp. on Monday said that well site preparation has commenced on the Amberjack prospect located in Plaquemines Parish, La. Based on the exceptional progress at the site, the company projects the spud date within the next two weeks. The project targets multiple Middle Miocene sands on a well defined structural closure. The combined potential reserves for this prospect are 10.1 BCFE.

The fields surrounding the Amberjack Prospect have produced vast quantities of oil and gas from the objective sand section in numerous fault blocks. These fields are East Point a la Hache, 1.5 miles to the southeast, 13.9 BCFE; Pointe a la Hache, 3 miles to the southwest 175 BCF and 15 MMBO; Delacroix Island Field, 3.5 miles to the northwest, 230 BCF and 24 MMBO; and E. Crooked Bayou Field, 4 miles to the northeast, 8 BCFE.

"The excitement surrounding this prospect is well warranted," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "Amberjack looks to be just the beginning of a magnificent summer drilling program."

Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. Its prospect areas consist of lands in Alberta, Canada and southeastern Louisiana.