IRVINE, CA, Oct 23, 2013 - Universal Bioenergy Inc., (OTCQB: UBRG), a publicly traded independent diversified energy company, announced today that NDR Energy Group, its subsidiary, was awarded a contract to supply natural gas to one of the largest natural gas distribution utilities in the country. Under the terms of the contract NDR Energy Group is to supply the customer with an estimated 3.0 billion cubic feet (bcf) of natural gas for five months from November through March, with an estimated value of $11,385,000.
The gas distribution company supplies and delivers natural gas to over 20 million customers on the west coast. Its parent company, a Fortune 500 company, traded on the New York Stock Exchange, reported revenues of approximately $10.0 billion in its 2012 annual report.
Vince M. Guest, Universal's President states, "We are very excited about the award of this new contract to supply natural gas to one of the largest utilities in the country. This is one of the largest natural gas transactions in NDR Energy's history and demonstrates the strong relationships we continue to build in the energy industry. We are working on several other transactions to obtain contract awards with other major electric and gas utilities to sell them natural gas and electricity to increase our revenues. This is an outstanding accomplishment for NDR Energy for successfully closing another great transaction."
The contract limits NDR Energy from disclosing the customer's name and certain details of the transaction.
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
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SOURCE: Universal Bioenergy Inc.