Universal Energy Corp. Announces Voluntary Filing of Form 15 to Suspend SEC Reporting Obligations

   Universal Energy Corp. (PINKSHEETS: UVSE) announced today the filing of a Form 15 with the Securities and Exchange Commission (the "SEC"). Universal filed the Form 15 with the SEC in order to effect a termination of registration of its common stock under the Securities and Exchange Act of 1934.

Upon the filing of Form 15, the Company's obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q and 8-K, were immediately suspended. The Company expects the registration of its common stock will be terminated 90 days after the filing of Form 15 with the SEC. The Company's shares are quoted on the Pink Sheets quotations system.

The Board of Directors is taking action for a number of reasons. Suspending the Company's SEC reporting obligations will allow it to avoid substantial legal, accounting and other expenses associated with reporting compliance and make those savings available for continued operation of the business. Dyron Watford, Chairman and CFO stated "The costs associated with being a SEC reporting company are substantial. Tightening in the credit markets has made this cost savings action necessary for many companies our size."

Billy Raley, Universal's Chief Executive Officer, said, "This decision was extremely difficult but necessary given the current financial environment and the continued depressed market prices for natural gas. We intend to remain transparent by continuing to provide quarterly and financial information about our company on our website and to our stockholders directly upon written request."

Universal Energy Corp. is a publicly traded (PINKSHEETS: 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 [e-mail]