Universal Bioenergy Stock Jumps 33.33%, On High Volume for Second Day, Trades 8.15 Million Shares
IRVINE, Calif., Oct. 25, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, announced that shares of its common stock jumped 33.33% in price, and 8,158,015 shares of its stock traded on Wednesday, October 24, 2012. The high volume trading for the Company's shares continued for a second consecutive day, with a two day rise in price of 135% since Monday's close.
Investors continued to react positively by buying up its shares and pushing the price up 33.33%, after it reported that the Depository Trust Company (DTC) had lifted the "Deposit Chill" on the Company's stock. All deposit restrictions have been removed, and the Company is now once again fully "DTC Eligible", and has resumed full electronic trading of the Company's common stock.
Investors quickly purchased the stock at a rate of over 1.08 million shares per hour, or over 18,129 shares per minute throughout the trading day. The of 8,158,015 shares traded on Wednesday, was 2.04 times the average daily trading volume of 3,999,744 of Universal's shares. Over 17,205,569 shares of the Company's stock were traded from Tuesday October 23, 2012 through the end of the trading day Wednesday 24, 2012.
Solomon Ali, Universal's Senior Vice President says, "We are very excited about the increased demand for our stock and its potential growth since the release of the DTC "Chill". Now we can make greater strides toward building a stronger company and generating profitability for the Company. We had record volumes of natural gas sales in the last few months, and expect that upward trend in volume, and gas prices to continue to rise. We are finalizing several major new contracts, for the sales of natural gas, oil and electric power, which should add millions of dollars in revenues and help push the company toward profitability. We anticipate making announcements about these transactions very soon. We are very pleased the investment community is still bullish about Universal and are demonstrating it by investing with confidence in our future."
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
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784
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.