Here's a link to their press release:
http://finance.yahoo.com/news/Universal-announces-cnw-1718117094.html?x=0&.v=1
The 2.39 billion BOE is a gross estimate. The risked mean number is 567 million BOE.
It's not clear exactly what data was used in preparation of the report, but no drilling has actually occurred. There's also no opinion on economic viability, only probability of geologic success.
Here's the report:
http://www.universalpowercorp.com/projects/img/page22/20100611111850.pdf