IRVINE, CA – March 19, 2014 -- Universal Bioenergy Inc., (OTCQB: UBRG), a publicly traded independent diversified energy company that markets and distributes natural gas, petroleum, coal and electricity, announced that its subsidiary NDR Energy Group, sold an estimated 5.39 billion cubic feet (Bcf) of natural gas to its customers and set a new record of $25.19 million in projected sales for the first calendar quarter of 2014. NDR Energy Group kept pace with the rising demand for natural gas from its electric utility customers and the increased demand in the energy services sector, enabling them to break all previous records for first quarter sales.
The $25.19 million of natural gas sold by NDR Energy Group represents unprecedented growth and the highest first quarter calendar sales in the Company's history. The estimated sales of $25.19 million, exceeds the gross revenues of $12.39 million posted for the previous first calendar quarter of 2013 by an increase of 103.22%. The estimated 5.39 (Bcf) of natural gas sold for the first calendar quarter represents a 42.92% increase over the 3.77 (Bcf) of natural gas sold for the first quarter of 2013.
NDR Energy Group's President and CEO, Ken Harris states, "We continue to work in a diligent manner to increase sales. Both our customer and supplier relationships continue to expand. And, we certainly have laid the foundation for continued success during the second quarter. Our biggest priorities during the second quarter will be to increase our margins and bring our power/electricity and daily transaction verticals into full operation."
Universal Bioenergy is a high growth diversified energy company that is experiencing double-digit growth. NDR Energy Group, a subsidiary of Universal Bioenergy, sells natural gas to many of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customer in the United States.
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
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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.
SOURCE: Universal Bioenergy Inc.