United Energy Continues Shipments to Petrobras
January 15 2008 - 8:32AM
PR Newswire (US)
SECAUCUS, N.J., Jan. 15 /PRNewswire-FirstCall/ -- Under the
contract signed with Petrobras America, Inc., United Energy
(OTC:UNRG.OB) (BULLETIN BOARD: UNRG.OB) is continuing to make
shipments of KX-100 to Brazil. We have received another release
order for KX-100 from Petrobras. We anticipate many more orders
under this contract. Our KX-100 will help clean out their wells and
pipelines of paraffin and asphaltene, thus increasing oil
production. In order to have a closer working relationship with
Petrobras, United Energy has set up an organization in Brazil to
work with Petrobras in different regions of the country to help
increase oil production. We are also in the process of getting
other United Energy products approved by Petrobras to help solve
problems in the oil field, not related to paraffin and asphaltene.
Mr. Wilen, CEO of United Energy Corporation, stated, "Our
innovative line of specialty chemicals will be a solution to many
problems Petrobras is experiencing in the oil field. We are quite
pleased to commence shipments in 2008 of our KX-100 to Petrobras.
United Energy has placed significant resources and focus over the
past years to put the Company in position for future growth and
development. This sales order will provide us with stronger revenue
growth in the first quarter of fiscal 2008. The order also
demonstrates that our K-Line products meet the quality standards of
leading petroleum companies around the world. We enter the New Year
with great momentum evidenced by heightened interest and orders in
our product line." "Our strategy remains consistent; increase our
revenue base by providing our customers with innovative, high
quality, cost effective, products, while at the same time expanding
our presence and distribution chains worldwide. Prior year
investments will support our continuing growth, and we look forward
to strong full year results," continued Mr. Wilen. Forward-looking
Statements Except for the historical information herein, the
matters discussed in this news release include forward-looking
statements that may involve a number of risks and uncertainties.
Actual results may vary significantly based on a number of factors,
including, but not limited to, risks in the product and technology
development, market acceptance of the new products and continuing
product demand, the impact of competitive products and pricing,
changing economic conditions, including changes in short-term
interest rates and foreign currency fluctuations and other risk
factors detailed in United Energy's most recent periodic reports,
pursuant to the Securities and Exchange Act of 1934, and other
filings with the Securities and Exchange Commission. United Energy
Corporation Contact: Robert Guinta (201) 842-0288 DATASOURCE:
United Energy Corporation CONTACT: Robert Guinta of United Energy
Corporation, +1-201-842-0288, Web site:
http://www.unitedenergycorp.net/
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