Universal Underscores 123%, 244% Increases for 2Q Production

Universal Energy Corp. announced that gas and oil production quantities had more than doubled during the 2nd quarter 2008 increasing by 123 percent and 244 percent, respectively over amounts produced in the first quarter of 2008.

"What a difference a quarter makes," commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued, "The increase in production coupled with the extraordinarily high prices was more than we
anticipated. During the second quarter of 2008, Universal Energy Corp.'s share of production was approximately 23.58 million cubic feet of gas and 262 barrels of oil. With production having started in July 2008 for Caviar-1 and Caviar-4, production for fiscal 2008 is shaping up nicely."