HOUSTON, July 28 /PRNewswire-FirstCall/ -- Universal Energy Corp. (OTC Bulletin Board: UVSE), announced today that the first test well at Lone Oak was not found to contain enough hydrocarbons for commercial production at this time. "Lone Oak #1 was the first of a four well package and we have already begun preparations to drill the second well," commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued, "The information gathered on the first test well will be instrumental in the drilling of the remaining three wells."

Universal Energy Corp. CFO Dyron Watford commented, "While the results of this first test well is disappointing, our guidance for the second and third quarters of 2008 remains unchanged as it included only our current producing wells."

Universal Energy Corp. is a publicly traded (OTC Bulletin Board: UVSE) energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Louisiana and Texas. Visit www.universalenergycorp.info for more details.

Forward Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.



    CONTACT:
    Universal Energy Corp.
    Billy Raley, CEO, (800) 975-2076
    braley@universalenergycorp.info

SOURCE Universal Energy Corp.