Universal Preps Caviar 1 Prospect
Universal Energy says that well site preparation has commenced on the Caviar 1 prospect located in Plaquemines Parish, Louisiana. Drilling is scheduled for this prospect following the completion of drilling at their Amberjack prospect. Drilling at the Amberjack is scheduled to begin in the next two weeks.
Oil and gas production surrounding the Amberjack and Caviar prospects from the objective sand sections is impressive. These fields are East Point a la Hache, 1.5 miles to the southeast, 13.9 billion cubic feet equivalent ("BCFE"); Pointe a la Hache, 3 miles to the southwest 175 billion cubic feet ("BCF") and 15 million barrels of oil ("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.
"We are very proud of our portfolio of oil and gas prospects that we are drilling over the next few months," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "Continued growth through the drill bit is the path to success for the company and its stockholders."
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. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada and Southeastern Louisiana.
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