Universal Bioenergy Inc, a publicly traded independent diversified energy company that markets natural gas, propane, and produces petroleum and coal, announced that it is in negotiations with several commodities traders and brokers to sell them thermal steam coal, in a transaction valued at an estimated USD 64.8 million over the next 18 months.

The commodities traders and brokers are seeking to purchase an estimated 60,000 tons of high grade thermal steam coal for foreign export. One trader is seeking to buy an estimated 50,000 tons per month to export to China. A second buyer is seeking an estimated 10,000 tons per month to export to a country in West Africa.

Universal's President Mr Vince M Guest said “We are very excited about the potential revenues and earnings from the sale of coal for export to these countries. Universal is making plans to expand into the international market to export coal to several countries over the next 24 months. We also have plans for major sales of refined energy products through NDR Energy Group, and more acquisitions of oil and gas wells and crude oil through Texas Gulf Oil & Gas to increase our revenues. We believe this will have a positive effect on our shareholders and the value of our stock.”

Universal's Whitesburg Friday Branch Mine produces thermal steam coal in eastern Kentucky. The Whitesburg mining operations are the surface and high wall mining type.

Source - The Universal Bioenergy Inc

(www.coalguru.com)