IRVINE, Calif., April 17, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTC Markets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, petroleum and coal, announced its President, Vince M. Guest met with the Governors of two large coal producing States and senior executives of their Economic Development Departments.
Universal's President attended a State Governors Business Conference in California to gain support for the Company's efforts to export large quantities of coal from their states to Asia and Europe, and assistance with logistics and shipment with railroad companies and access to seaport terminals on the east and west coast. They also discussed the Company's plans for growth and expansion in their States, support and assistance on obtaining leases on public lands for the development of coal, oil, gas, and creating more jobs and revenues in those states. One of the states was in the Midwest and the other on the east coast.
The Company is projecting an estimated 200,000 to 300,000 tons of coal sales per month. At an estimated $90.00 per ton, this could generate an estimated $216 to $324 million in additional annual revenues and an estimated $24 to $36 million per year in gross profit.Universal's President Vince M. Guest states, "We were very excited to meet with the Governors and senior members of the Economic Development Departments of two of the largest coal producing States last week. The meetings were very productive, especially since we had traveled to one of the States last month to tour a coal mine to purchase and secure additional supplies of coal. We were invited by the Governors to come to their State offices to meet with them, and executives of their Economic Development Department and Department of Energy to gain their support for our business expansion in their States, creating jobs and our efforts to export coal and other energy products to Asia and Europe. We to plan to have these meetings very soon to facilitate our growth."