IRVINE, Calif., Aug. 29, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, propane, and produces petroleum and coal, announced today that it is aggressively gearing up for another major expansion for the company through more joint ventures, energy contracts and acquisitions. The Company's acquisition team has been in discussions for several months with several strategic target energy companies to acquire.
The Company is in advanced negotiations with a major multi-billion dollar energy company for a long-term contract to supply them with natural gas. Advanced negotiations are ongoing for a joint venture with another billion dollar energy company to assist them in supplying its customers with natural gas in specific geographical regions throughout the U.S.
Universal's Senior Vice President Solomon Ali states, "We feel we can achieve our goal to build a billion dollar diversified energy company in terms of sales and/or market cap. We believe we have a blueprint for success, and are very excited about our plans for growth and expansion to complete that objective. We have been working on some major transactions, that we feel should have a strong, positive impact on the Company's future, growth and stock price. Some of these transactions should close very shortly. Our acquisitions team has been reviewing a number of energy companies, and has targeted several that we anticipate should significantly increase the company's revenues and help accelerate our drive toward profitability, if the acquisitions are successful. As the Company continues to grow, we have had a greater interest in more companies wanting to joint venture with us, and some have expressed an interest in some international business ventures. The Company will be providing details to the public on these transactions very soon. We feel this should bring more value to our loyal shareholders and the investment community."