JUNO BEACH, Fla., Oct 03, 2005 /PRNewswire-FirstCall via COMTEX/ -- Universal Property Development and Acquisition Corporation (OTC Bulletin Board: UPDA) has been informed by the management of its subsidiary, Canyon Creek Oil and Gas, Inc., a joint venture with USProduction & Exploration, LLC (USPX), a privately held Company, that production of natural gas from its Hagler leases in Coleman County, Texas has greatly exceeded its original projections. Revenue from that production may be more than 100% greater than originally announced.
As previously reported, Universal has provided funding for the revitalization of these wells and Canyon Creek had recently announced that natural gas production would commence before the end of September. It was originally projected that the Company would immediately deliver about 900 mcfgpm from 5 wells. Production figures reported at the end of last week, however, indicate that production will exceed 1800 mcfgpm.
Within the next several days, at least 7 more wells will be brought on-line as a result of funding provided by Universal. The revitalization of the remaining wells continues as scheduled and several more wells will begin production in the near future.
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin.
About Universal Property Development
Universal Property Development and Acquisition Corporation (OTC Bulletin Board: UPDA) focuses on the acquisition and development of proven oil and gas reserves and other energy opportunities through the creation of joints ventures with under-funded land and technology owners.
Posted by Chas35 on :
volume pouring in..in at .32
Posted by JL on :
THx.....watching. I saw the news as well...tried .32 no fill. Didnt wanna chase.
Posted by Chas35 on :
i hear ya JL it was .30 when i started trying..chased it 2 ticks..man she's gettin some serious volume
Posted by Chadsly on :
quote:Originally posted by JL: THx.....watching. I saw the news as well...tried .32 no fill. Didnt wanna chase.
Here's your second chance .31 X .32
Posted by JL on :
picked up 10k what the hay. GAS is hot if AMEP is any indicator. I guess UPDA might do ok since theyre producing.
Posted by Chas35 on :
yep dipped..comin back up..wow this thing was $5 6 months ago
Posted by JL on :
hmm might add some more before close. Just saw the share structure. Looks nice
Posted by Chas35 on :
yeah I didn't really DD it..figured it would jump just on the news...doing a lil digging now chart actually looks decent
Posted by rickpic on :
Im in! Very good looking prospect! Posted by strike1 on :
I am in......UPDA: Next Big Nat Gas Play!
GLTA Posted by Triumph1902 on :
In also...looks real nice!
Posted by Chas35 on :
looks like a 32 close comin...hopefully a gap up in the morning we'll see
Posted by JL on :
Natural Gas hod'n
Posted by rickpic on :
I'm showing a .33 close and if the .33's pull out in the AM we could see a very nice start!
Posted by rickpic on :
nice .35 trades coming in after hours! Posted by Chas35 on :
sweet!!!
Posted by JL on :
I noticed some MM share exchanges. Float was traded today....they tried to hold it down, actually they did hold it down. If pressure comes in tommorow...We might witness a thing of beauty from UPDA. Ive set my sell order already at .45, will raise or lower tommorow. Just to lock up my 20k out of NITE's potential inventory.
Posted by strike1 on :
break of .35 will technically send us 2X until next level of resistence... JMHO
Posted by strike1 on :
gapper in the AM on today's late news. 7 more wells online in a week.... BAM! We could see a massive 3 day runner here 200-300%...
Posted by rickpic on :
We have QUIN raising the BID here! Posted by rickpic on :
We have a .35 BID!!!!! Posted by Chas35 on :
36x365 looks like a nice gap up to open Posted by strike1 on :
we are gapping large style here folks and over resistence... next resistence early .60.... GL
Posted by JL on :
.36 bid solidifying. Lets see if we can shoot past .40
Posted by JL on :
.37x.38 here we go
Posted by Chadsly on :
.38 X .385 You gotta keep up
Posted by dishgal1 on :
Wow, I knew I should have bought this yesterday....Duh!
Posted by JL on :
We break .42 and I dont know if there is much resistence up to .50
Posted by Chadsly on :
.39 X .395
Posted by Persia on :
.40 X .41
Posted by JL on :
MMs = Sweating. Cussing. Pulling out Hair. Running around in Circles. You name it. Trying to stop .42 break. Lets see if we can do it on 2nd leg.
Posted by Chas35 on :
here's comes a shake..hang in there
Posted by JL on :
some healthy profit taking. future buybackers.
Posted by JL on :
wow all tha sell pressure and just 2 cent shake? Someones malling back the trucks. Bid back up.
Posted by JL on :
1.25 mln volume and rising. Float almost traded again.
Posted by strike1 on :
Universal Property Development Subsidiary to Initiate Oil and Gas Production at Its Palo Pinto County Regular Field Tuesday October 4, 9:53 am ET
HOUSTON, Oct. 4 /PRNewswire-FirstCall/ -- Canyon Creek Oil & Gas Inc. (A Joint Venture of Universal Property Development and Acquisition Corporation (OTC Bulletin Board: UPDA - News) and USProduction & Exploration, LLC, a privately held Company) has expanded its well revitalization program on a fast pace and will soon initiate oil and natural gas production at its Palo Pinto County Regular Field consisting of 614 acres with 28 wells completed in the Strawn formation in Northern Texas. ADVERTISEMENT
Canyon Creek has scheduled a field meeting this week with the Railroad Commission of Texas to perform the required testing on four of its permitted injector wells. Canyon Creek will then implement water flood procedures to recover a significant amount of oil remaining in place. Once the testing is completed, the Company can begin oil and natural gas production from the wells.
"Our plans include injecting about a thousand barrels of water per day to maximize the effects of water flooding", says Canyon Creek President, Donald Orr. "We are excited about this field because of the number of producing wells and the relatively low lifting cost to produce the oil at 1,200 feet. Once the water flooding procedures take effect, we could exceed 1500 barrels of oil per month and 3,000 mcfgpm of casinghead gas."
"Once these wells are brought on-line, it is projected that Canyon Creek will be selling nearly 5000 mcf of natural gas per month from only half of its current portfolio," added Chris McCauley, Universal Vice President. "This is in addition to the oil that will be sold to Sunoco at a dollar over their posted price. This revitalization program is well ahead of schedule and producing revenues far exceeding our original estimates."
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin with several more under consideration.
About Universal Property Development
Universal Property Development and Acquisition Corporation (OTC Bulletin Board: UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
About USPX
USProduction & Exploration, LLC. (http://www.uspx.com), an independent production and exploration company located in Sugar Land, Texas, is engaged in the acquisition of oil and gas producing properties with multiple enhancement opportunities. USPX seeks high quality exploration drilling projects in conventional and unconventional reservoirs. The Company's approach to developing apparently depleted oil and unconventional natural gas reservoirs is innovative: it combines horizontal and multilateral with under balanced drilling methods.
Posted by Raptorsrule on :
News!...I'm in at .38
Universal Property Development Subsidiary to Initiate Oil and Gas Production at Its Palo Pinto County Regular Field PR Newswire - October 04, 2005 09:54
HOUSTON, Oct 04, 2005 /PRNewswire-FirstCall via COMTEX/ -- Canyon Creek Oil & Gas Inc. (A Joint Venture of Universal Property Development and Acquisition Corporation (OTC Bulletin Board: UPDA) and USProduction & Exploration, LLC, a privately held Company) has expanded its well revitalization program on a fast pace and will soon initiate oil and natural gas production at its Palo Pinto County Regular Field consisting of 614 acres with 28 wells completed in the Strawn formation in Northern Texas.
Canyon Creek has scheduled a field meeting this week with the Railroad Commission of Texas to perform the required testing on four of its permitted injector wells. Canyon Creek will then implement water flood procedures to recover a significant amount of oil remaining in place. Once the testing is completed, the Company can begin oil and natural gas production from the wells.
"Our plans include injecting about a thousand barrels of water per day to maximize the effects of water flooding", says Canyon Creek President, Donald Orr. "We are excited about this field because of the number of producing wells and the relatively low lifting cost to produce the oil at 1,200 feet. Once the water flooding procedures take effect, we could exceed 1500 barrels of oil per month and 3,000 mcfgpm of casinghead gas."
"Once these wells are brought on-line, it is projected that Canyon Creek will be selling nearly 5000 mcf of natural gas per month from only half of its current portfolio," added Chris McCauley, Universal Vice President. "This is in addition to the oil that will be sold to Sunoco at a dollar over their posted price. This revitalization program is well ahead of schedule and producing revenues far exceeding our original estimates."
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin with several more under consideration.
About Universal Property Development
Universal Property Development and Acquisition Corporation (OTC Bulletin Board: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
About USPX
USProduction & Exploration, LLC. (http://www.uspx.com), an independent production and exploration company located in Sugar Land, Texas, is engaged in the acquisition of oil and gas producing properties with multiple enhancement opportunities. USPX seeks high quality exploration drilling projects in conventional and unconventional reservoirs. The Company's approach to developing apparently depleted oil and unconventional natural gas reservoirs is innovative: it combines horizontal and multilateral with under balanced drilling methods.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
This press release was issued through GroupWeb EmailWire.Com. For more information on press release distribution, go to http://www.emailwire.com.
SOURCE Universal Property Development and Acquisition Corporation
Universal Property Development and Acquisition Corporation, +1-561-868-2071
Copyright (C) 2005 PR Newswire. All rights reserved.
Posted by JL on :
MM's cannot sustain these low prices for much longer. Consolidating before break over .42 imo.
Posted by Persia on :
Having a hard time to go up, imo.
Posted by Chas35 on :
with that second PR no way can hold this back
Posted by JL on :
Nice steady movement. MM's keep locking the bid and asks.
Posted by Persia on :
.395 X .400
Posted by JL on :
opportunity imo, still holding 10k shrs.
Posted by Triumph1902 on :
This one is just getting started...long way to go still.
Posted by JL on :
Agreed. Some profit taking today from yesterdays gains, and MM's trying to hold back. Also Picked up new buyers as well, no reason why we shouldnt sustain the gains and add more on top. Unless Gas takes a nasty spill.
Posted by servant_350 on :
i'm in at .392 , u think i should hold it more?
Posted by JL on :
Thats too tough for me on a sub .50 gas stock thats adding more wells by the month. Healthy balance sheet. Oil/Gas Energy prices expected to keep rising for the next 6 months, and only 12mln Os and 1/6th of that in float. I think you should hire a broker.
Posted by c town on :
what do you think about qoil? got in at .53 they wont tap into new gas till the end of oct. looked into upda because of qoil has done well and i think upda will see gas and profits much faster. i got in at .32 i would like to see both of these go strong through the winter. will they if gas projections stay true?
Posted by JL on :
As greedy as this government in the white house is....i say the Gas projections will stay in tact.
Posted by rickpic on :
back in at .366
Posted by Chas35 on :
lol welcome back rik...just went through a whole mess of block trades
Posted by JL on :
Added .0365.
Posted by Chas35 on :
added here too..now lets go back up
Posted by rickpic on :
was in yesterday at .33 and got out this AM at .395 I figure this is the base with good support at .35-34 and I built myself a cushion with the quick profit. I'd like to see a good run at the HOD for the close and PR on the 7 new wells in the AM!
Posted by Raptorsrule on :
I added at .365 as well....I noticed a mirror trade for the same amount of shares at the same time at the bid....games....
Posted by rickpic on :
anyone getting shares here this looks real cheep!
Posted by Triumph1902 on :
Picked up a couple more thousand here...
Posted by Chas35 on :
yep got some more here..had to free up some funds
Posted by rickpic on :
if they want to leave it here till the AM I'll have a boatload! waiting on funds to clear! Posted by rickpic on :
Am I the only one watching this break out above .37 again?
Posted by vg on :
yep its moving with some support at .37 small but its there
Posted by Triumph1902 on :
.375 x .385
Posted by strike1 on :
EOD Run Coming! Bid Building strong!
Posted by Triumph1902 on :
tomorrow should be good
Posted by dishgal1 on :
I'm in at .365............do you still think eod run coming? Hope so.
Posted by vg on :
haha dish did rapt get u into this one too??
Posted by dishgal1 on :
I have been watching and decided to jump in. I suppose I influenced him to get into SCU today also. Just mentioned it yesterday. We pretty much make our own decisions about individual stocks, but when I ignore him I usually regret it. Time will tell on this one I guess. LOL
Posted by strike1 on :
EOD Run if we can break through .38 and close at+ the HOD and gappa in morning once word gets around... GL and JMHO
Posted by JL on :
Stilll holding. .40s tommorow.
Posted by Triumph1902 on :
This should form a base around .50 short term... what happens after that depends on what news they release.
Posted by bdgee on :
Holding?
Posted by rickpic on :
late trade at .385 Posted by Chas35 on :
I'm still holding lets see a nice gap again tomorrow..nice close!
Posted by Raptorsrule on :
I held all.....chart looks groovy....I'm likeing this all week....remember...low OS..and tiny floats make for flyers....GLTA
Posted by vg on :
I'm still in, once the mother - son duo of Rapt and Dish are in I follow LOL Will hold for sometime.
Posted by rickpic on :
QUIN is back on the BID! .385 along with BRGE. Might I add that QUIN has been buying for days, but has not been anywhere near the ask. Somebody is gathering and QUIN is there broker! Posted by Triumph1902 on :
Bid is building...
Posted by Chas35 on :
mostly buys comin through now headin back up
Posted by Triumph1902 on :
.40X.41
Posted by DENSKIJR on :
Good Morning,
Just saw this thread been out this week looks good but I think I've missed it upticking this morning and I hate chaseing a stock
hmmmm what to do
Posted by Raptorsrule on :
Dens...do the due.....
Posted by Chas35 on :
wait for a dip dens...there's been plenty of opportunities to jump in
Posted by Triumph1902 on :
.45 haha here she goes
Posted by JL on :
Shorterm Target finally hit. Out for now .445. But will be buying back dips. Im still amazed at yesterday's dip and come back. More surprised on it dipping in the first place than the comeback.
Posted by DENSKIJR on :
Crap Im doing the due and its breaking out. I hate when Im right and late Ha! oh well have to wait for a pull back if it does. Congrats to those who got in early
Posted by Chas35 on :
out at 44...hopin for another big dip to get back in
Posted by Triumph1902 on :
still in with half...looking to enter again
Posted by Raptorsrule on :
I'm holding boys.....I think this one has plenty of legs left....
Consider TGC and AMEP...TOTAL POSs and look at the runs.
JMHO
Posted by Chas35 on :
might not dip back under 40 it looks like that was a big resistance point..also there should be another pr out soon about getting more wells on-line
Posted by strike1 on :
Holding Strong... broke yesterdays high after breaking 1st line of resistence at .36... next resistence is .60... I think we will be well over $1 by this time next week..
7 new wells coming online in day's... PR eminant... Revenues and strong next qtr will bring people flooding too UPDA
Posted by Chas35 on :
hmmmm..is this a new bottom??
Posted by Raptorsrule on :
looks like both quin and nite want shares....quin has still not shown up on the ask.....
Posted by Raptorsrule on :
Nice freakin' close.....at HOD:)
We continue the trend tomorrow IMHO...
Posted by strike1 on :
Closed * HOD .45... Another steady day up 18% as we get ready to bring 7 more wells online in next few days!
Posted by Raptorsrule on :
Gapping.....nicely:)
Posted by vg on :
YESSSS
Posted by Raptorsrule on :
Very nice buying going on...
50x505
Posted by Raptorsrule on :
News is due....I'm holding all.
Posted by dishgal1 on :
UPDA Subsidiary Canyon Creek and West Texas Gas Finalize Gas Purchase and Processing Agreement for Casinghead Gas in Coleman County PR Newswire - October 06, 2005 10:22
HOUSTON, Oct 06, 2005 /PRNewswire-FirstCall via COMTEX/ -- Canyon Creek Oil & Gas Inc. (A Joint Venture of Universal Property Development (OTC Bulletin Board: UPDA) and USProduction & Exploration, LLC. (USPX), a privately held Company) reached an agreement with West Texas Gas Company regarding the purchase, delivery, and processing of casinghead gas from Canyon Creek's Hagler Leases in Coleman County, Texas. Canyon Creek started delivering casinghead gas to WTG last week. The gas purchase and processing agreement provides for Canyon Creek to receive a percentage of the liquids processed at the WTG Jameson processing plant.
Canyon Creek is delivering its gas into a low-pressure pipeline operated by WTG and then the gas is transported to the Jameson plant for processing. The pipeline pressure recorded at the delivery point is approximately 80 psi. This low pressure allows Canyon Creek to move its gas from the wellhead to the pipeline without having to rent a large gas compressor from a third party. Instead, Canyon Creek installed and connected a small, vacuum pump compressor that lowers the pressure to 0 psi. The casinghead gas is now free to flow into the WTG pipeline without having to buck the 80-psi line pressure. Another expected benefit is the oil production should increase as well.
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin with several more under consideration.
About Universal Property Development
Universal Property Development and Acquisition Corporation (OTC Bulletin Board: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
About USPX
USProduction & Exploration, LLC. (http://www.uspx.com), an independent production and exploration company located in Sugar Land, Texas, is engaged in the acquisition of oil and gas producing properties with multiple enhancement opportunities. USPX seeks high quality exploration drilling projects in conventional and unconventional reservoirs. The Company's approach to developing apparently depleted oil and unconventional natural gas reservoirs is innovative: it combines horizontal and multilateral with under balanced drilling methods.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
News provided by Dow Jones NewswiresSM, PR News Wire™ and Business Wire™. Dow Jones Newswires is a service mark of Dow Jones & Company. PR News Wire is a Trademark of PR Newswire Association, Inc. Business Wire is a registered trademark and service mark of Business Wire.
Ameritrade is not responsible for the quality and suitability of third party financial or investment information or services. Please consult other sources of information and consider your individual financial position and goals before making an investment decision. Ameritrade, Division of Ameritrade, Inc., member NASD/SIPC. Ameritrade and Ameritrade logos are trademarks or registered trademarks of Ameritrade IP Company, Inc. 2002 Ameritrade IP Company, Inc. All rights reserved. Used with permission.
Posted by Raptorsrule on :
quin and nite are at it again....quin still has not shown up on the ask.
News of the additonal wells still due.
Holding.
JMHO
Posted by DENSKIJR on :
Man droping like a rock I was kicking myself for not getting in yesterday but what the heck is this about.......
Posted by Raptorsrule on :
just a shake IMHO.....moving back up now.
Posted by dishgal1 on :
If we can continue to gain a few pennies per day and hold it, I believe there is less chance of the bottom dropping out JMO......everyone has one. LOL
I really prefer a stock with slow gains over the severe climb and severe drop.
Posted by vg on :
I like gaining a couple of cents a day instead of going up real fast and then back to square one
Posted by DENSKIJR on :
I disagree I'm for SEVERE CLIMBS Posted by dishgal1 on :
Dens I have to admit they are fun....but very nervewracking......LOL
Posted by DENSKIJR on :
Man talk about taking it down at the end we'll see how she opens in the morning. What a day! Posted by dishgal1 on :
Very frustrating huh?
Posted by hamagasi on :
Chart is developing a nice up and down bi-weekly pattern, if the PR's keep up we could have a roller coaster between $0.30 and $0.40 tradeable repeatedly.
Posted by strike1 on :
went down on low vol at the EOD yesterday.. Rebound today for this and many more O/G stocks..
Gapping nice again today! Look for it to run past yesterdays HOD .505!
Posted by Raptorsrule on :
Concur strike.....
Posted by Raptorsrule on :
looks like more games...I flipped...looking for re entry.
Posted by strike1 on :
this gap at the open and quick down stuff is getting common.. I might just play some shares just for this type move.
Posted by JL on :
On the Rise for new highs
Posted by strike1 on :
New HOD .53 ->>>>>>>>>>
Posted by strike1 on :
MM's also are lowering their market size down too 2,500... I think they are ready to let it fly!
Posted by JL on :
I say Gapper tommorow and new highs.
Posted by JL on :
.53 new high.
Posted by Chas35 on :
wow congrats guys...kickin myself for not getting back in this today Posted by JL on :
.559 high was hit. Still has gapper potential.
Posted by JL on :
.57 after dipping to .53 for a few mins. This one keeps goin back for more new highs after dips. This has been true for the past week.
Posted by JL on :
.59 new high hit after a 10k buy at .58. Nice. Still holding tight. Tommorow should be interesting.
Posted by JL on :
.62 just hit = ) woah a bit too fast there. Slow Down!
Posted by JL on :
MMs basically covering on shares sold short they didnt have from .40s. Reshorting and will end up covering higher. IF i sell tommorow ill be buying back on dips. Stayed tuned to this one...its in its prime.
Posted by JL on :
STrong Close.....very nice!
Posted by Raptorsrule on :
Nice play guys......played snpd today instead..did ok..
damn this one is volatile! I'll look for a dip tomorrow and grab some...
glta
Posted by Wallace#1 on :
I got in on this one at .39. Will probably hold for some time now based upon what I have been hearing about natural gas prices climbing. Cold weather coming shortly too.
Posted by rider3160 on :
we have a gapper here. I might pick up more tomorrow since natural gas is going to be going up
Posted by strike1 on :
Shorts better cover today or you will get screwed... Already gapping .63 on bid!
Posted by Wallace#1 on :
One of their picks today:
UNIVERSAL PROPERTY DEVELOPMENT & ACQUISITION CORP (OTCBB: UPDA) "Up 42.86% on Monday"
Universal Property Development and Acquisition Corporation (OTCBB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
ABOUT OTCPICKS.COM
Posted by strike1 on :
Universal Property Development Enters Joint Venture for Natural Gas and Oil Field on 4,000 Acres In Utah Tuesday October 11, 9:04 am ET
SALT LAKE CITY, Oct. 11 /PRNewswire-FirstCall/ -- Universal Property Development and Acquisition Corporation (OTC Bulletin Board: UPDA - News), has executed a Memorandum of Understanding with Dark Horse Exploration, Inc. (DHE), a Wyoming corporation, Masaood Group, Ltd. (www.masaood.com) and Rene Kronvold (Masaood) for the development and production of a natural gas and oil field consisting of 4,000 acres in Northern Utah. ADVERTISEMENT
UPDA will own Sixty percent (60%) of the joint venture, DHE will own Thirty percent (30%) and Masaood will own Ten percent (10%).
Pursuant to the MOU, DHE will operate the field which presently has five (5) wells and which will be expanded to eighty (80) wells. Masaood has agreed to invest One Million Dollars ($1,000,000.00) and has provided initial funding of One Hundred Fifty Thousand Dollars ($150,000.00) for the revitalization of the existing wells. UPDA has agreed to re-invest its portion of the initial profits, up to One Million Dollars ($1,000,000.00), for the drilling of additional wells.
DHE will conduct all drilling on the property utilizing its own equipment. This will reduce the cost of drilling from an estimated One Million Dollars ($1,000,000.00) per well to Four Hundred Fifty Thousand Dollars ($450,000.00) per well.
"We expect to drill one well per week, as soon as we get the permits," said Byron "Woody" Woodward, President of DHE, "and based on the results from the first well we worked on, the acidization and work over of the existing wells should increase their production exponentially. This field will produce large amounts of oil and natural gas."
Universal Property Development and Acquisition Corporation (OTC Bulletin Board: UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
Posted by strike1 on :
UPDA: Vol Alert On great news!
Posted by vg on :
Moving like a horse on stroids
Posted by Wallace#1 on :
Great gap!
Posted by strike1 on :
Now we are partners with the United Arab Emirates:
==================================
The Al Masaood Group represents the collective interests of the Masaood family. The group was established, some fifty years ago, by Mohammed Bin Masaood. Over the years, the business has grown from being a small trading house to one of the largest trading and commercial organizations in the United Arab Emirates and the Arab world.Experience and professionalism is reflected in the management and success of business activities.
Posted by Raptorsrule on :
quote:Originally posted by strike1: Now we are partners with the United Arab Emirates:
==================================
The Al Masaood Group represents the collective interests of the Masaood family. The group was established, some fifty years ago, by Mohammed Bin Masaood. Over the years, the business has grown from being a small trading house to one of the largest trading and commercial organizations in the United Arab Emirates and the Arab world.Experience and professionalism is reflected in the management and success of business activities.
That's just great. It's not enough they get rich off of selling us their gas and oil...now they are going to sell us our own natural resources....
Nice run guys.....I'm out.
Posted by Raptorsrule on :
NO wonder their partners....
check out the CEO of UPDA
UPDA - UNIVERSAL PROP DEVL Click here to order Full Report
Universal Property Development and Acquisition Corporation 14255 U.S. Highway 1 Suite 2180 Juno Beach, FL 33408 United States
Name Title Bashiruddin Usama PR/CEO/CFO/DIR
Posted by rider3160 on :
the volume is crazy this is going to run into close
Posted by strike1 on :
Volume coming back in... Bid building strong... Running into the EOD... and Possible gapper in Morning!
Posted by JL on :
Nice Day Guys. Out UPDA for now .79 and .795 for +30pts or about 60% gain in 2 days. Yummy. Will buy back IF it dips lol.
Posted by amanick on :
grsu and fmkiq has had 2 days 116%
Posted by strike1 on :
Running now, New HOD .84
Posted by JL on :
Had to buy back in .82
Posted by JL on :
Ill be adding any dips from now till close looks like it might do 1.00 tommorow = D
Posted by JL on :
Next leg.
Posted by JL on :
1.00 potential either today or tommorow.....up to the MM's and when they want to cover their shorts.
Posted by strike1 on :
here we go EOD Run.... New HOD .91
Posted by JL on :
.90s. Anything under .90 before close is good deal. But i doubt youll get much time to get some.
Posted by strike1 on :
This is big news today and with what they have going on! Once people realize, then we will go 2-Da Moon!
Posted by JL on :
New Highs into close. Still HOlding. MMs are hurting.
Posted by DENSKIJR on :
Dang!!!!! nice play, nice job strike1 I thought you were overly optimistic but dang you were right on sure left a lot on the table by not pulling the triger. rrrrrrr
Posted by JL on :
Another Strong CLose for UPDA = )
Posted by Wallace#1 on :
1.00+
Posted by JL on :
1.01x1.015 with Bids still coming in to buy. Too bad market is close for those not in. Great day Longs! I almost made a mistake on this. But then rethought everything and it make sense for this to go much higher.
Posted by Wallace#1 on :
Still holding from .39. Closed above 1.00. Greed setting in for more with all the news about probable rising natural gas prices. I think it will continue up, but no idea how much. Hope no one gets hurt buying pursuant to my thoughts.
[ October 11, 2005, 16:21: Message edited by: Wallace#1 ]
Posted by Wallace#1 on :
Looks like some profit taking going on.
Posted by stickfigurefred on :
Whats the float on this one and how much she worth?
Posted by BULListic on :
Yikes, talk about selling on the news...announce $492 million and people run the other way....down 17% on great news...
SALT LAKE CITY, Oct 12, 2005 (BUSINESS WIRE) -- As previously announced by Universal Property Development and Acquisition Corporation (OTCBB:UPDA), a Memorandum of Understanding has been executed by UPDA, Dark Horse Exploration (DHE), Masaood Group (www.masaood.com) and Rene Kronvold for the development of an oil and natural gas field in Northern Utah. Additional details of that transaction are now available.
The property is located in the Dirty Devil Gas Field in Uintah County, Utah. According to the Department of Energy, the field contains proven reserves in both the Wasatch and Mesaverde formations.
Robert E. Covington, Certified Petroleum Geologist, has calculated that the existing wells contain 8.5 billion cubic feet of proven recoverable natural gas. With the planned drilling of additional wells, the field contains 49.2 billion cubic feet of provable proven recoverable natural gas reserves. At $10.00/mcf, these reserves are valued at $492 million.
"This is an incredible acquisition," commented Chris McCauley, UPDA Vice President. "With the equipment from Dark Horse already in place and the funding that we can provide along with Masaood Group, we will soon be producing large amounts of natural gas and for a very long time. These numbers we believe are conservative and they don't even take into account the oil that the existing wells and other data indicate is available on this property."
The initial funding for the project has been delivered and work on the existing wells have commenced. The permitting process for the additional wells should begin next week. It is anticipated that the existing wells will be brought fully on-line within 2 weeks.
Universal Property Development and Acquisition Corporation (OTCBB:UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
SOURCE: Universal Property Development and Acquisition Corporation
Peter Nasca Associates, Inc. (for Universal Property Development and Acquisition Corporation) Peter Nasca, 305-937-1711 info*updac.com
Copyright Business Wire 2005
Posted by JL on :
Adding on all dips.
Posted by JL on :
.88x.89 amazing. MMs shaking weak hands to save their own asses. 500mln in reserves is huge!.
"This is an incredible acquisition," commented Chris McCauley, UPDA Vice President. "With the equipment from Dark Horse already in place and the funding that we can provide along with Masaood Group, we will soon be producing large amounts of natural gas and for a very long time. These numbers we believe are conservative and they don't even take into account the oil that the existing wells and other data indicate is available on this property."
Posted by strike1 on :
These numbers are HUGE!!!!!
quote:Originally posted by JL:
"This is an incredible acquisition," commented Chris McCauley, UPDA Vice President. "With the equipment from Dark Horse already in place and the funding that we can provide along with Masaood Group, we will soon be producing large amounts of natural gas and for a very long time. These numbers we believe are conservative and they don't even take into account the oil that the existing wells and other data indicate is available on this property."
Posted by JL on :
UPDA Amazing.
Posted by Wallace#1 on :
Never expected such a dip if at all.
Posted by strike1 on :
After staight up gains like that there was bound to be some profit taking. It had to come sometime and it is good for the pps going forward. Still holding my initial .35 share and bought some more on the dip yesterday at .78... All-in-all it held up pretty good through the day with no major mass exudus... that last dip was on very few shares and mm's trying to share shares up IMO.. GL news just out!!!!!
quote:Originally posted by Wallace#1: Never expected such a dip if at all.
Posted by strike1 on :
West Oil & Gas, Inc. Established for UPDA Joint Venture in Utah -- Gas Production Initiated Thursday October 13, 7:55 am ET
SALT LAKE CITY--(BUSINESS WIRE)--Oct. 13, 2005--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) has established West Oil & Gas, Inc.(West), a Nevada corporation, as its new subsidiary in connection with its joint venture with Dark Horse Exploration (DHE), Masaood Group and Rene Kronvold for the development of the Dirty Devil Gas Field in Uintah County, Utah. ADVERTISEMENT
Revitalization of the initial well, the DD Federal 1-18, has been completed and it has been reported that production has been increased to 3 million cubic feet of gas per day.
"This represents Thirty Thousand Dollars ($30,000) per day of revenue at the conservative rate of $10.00 per mcf," said Byron "Woody" Woodward, President of West. "We anticipate that the other existing wells will also produce that much."
"The revitalization of four more of the existing wells will be completed within two weeks," continued Woodward, "and they will be brought on line as soon as they are ready. The sixth well, the DD State 31-15A, will require installation of new flow lines and some additional equipment. This will be the last well completed. All six will be producing by the middle of November."
"In addition to these vast amounts of natural gas, the DD State 11-29 may produce 250 barrels or more of oil per day according to Woody," said Chris McCauley, UPDA Vice President. "Given the accuracy of his estimates on the 1-18 and his experience with this property, we are very anxious to get this revitalization program completed."
As previously reported, West will drill 80 additional wells in the Dirty Devil Field over the course of the next 2 years. Because DHE has all the equipment necessary to drill these wells, they can be completed on time and under budget.
Posted by JL on :
Adding on any dips. This company will be doing great the next couple of Months.
Posted by strike1 on :
Just look at this from the PR... Just Huge! $1.50 will be cheap very soon...
"This represents Thirty Thousand Dollars ($30,000) per day of revenue at the conservative rate of $10.00 per mcf," said Byron "Woody" Woodward, President of West. "We anticipate that the other existing wells will also produce that much."
"The revitalization of four more of the existing wells will be completed within two weeks," continued Woodward, "and they will be brought on line as soon as they are ready. The sixth well, the DD State 31-15A, will require installation of new flow lines and some additional equipment. This will be the last well completed. All six will be producing by the middle of November."
"In addition to these vast amounts of natural gas, the DD State 11-29 may produce 250 barrels or more of oil per day according to Woody,"
Posted by Wallace#1 on :
Use this thread instead of that new one. OK?
Posted by stickfigurefred on :
How we doing today fellas?
Posted by JL on :
Doin ok, not great....stll holding. Some consolidation goin on. Markets are bad overall, with Oil goin to pre Katrina levels and Gas down...not too surprised about UPDA's lack of performance. Next week should be intersting to watch. I think we'll bottom out in .60s and finish consolidation there before we start to creep back up for new highs. This all IMHO. GLTA
Posted by Akira_Lapin on :
UPDA Subsidiary Canyon Creek Oil and Gas Inc. Continues Its Pursuit of Oil and Gas Reserves -- Purchases Two Additional Fields in Texas 10/14/05
HOUSTON, Oct 14, 2005 (BUSINESS WIRE) -- Canyon Creek Oil & Gas Inc. (A Joint Venture of Universal Property Development (OTCBB:UPDA) and USProduction & Exploration, LLC (USPX), a privately held Company) has completed the acquisition of two additional oil and natural gas fields in Texas. These two acquisitions are consistent with Canyon Creek's business model for acquiring proven oil and natural gas reserves.
The acquisitions include a 40-acre lease in Young County, Texas, and a 369.65-acre lease in Starr County, Texas. The lease in Young County has one well, the #2 Prideaux, completed as a gas well in the Marble Falls formation at 4800'. The lease in Starr County has four oil wells completed in the "J" Sand oil reservoir at 4,100'.
Funding for these acquisitions was provided by UPDA.
"The #2 Prideaux well is important because it adds gas reserves to our portfolio at a time when gas prices are over $12.00 per mcfg," says Canyon Creek President Donald Orr.
"The 369-acre lease in Boyle Field adds significant oil reserves in a proven oil field. We estimate 1,200,000 barrels of oil can be recovered by implementing water flood procedures. Sufficient well control, favorable reservoir properties, and excellent production history coupled with a compact, limited stratigraphic lens make this oil field an ideal candidate for secondary recovery via water flood," says Orr.
Continental Oil Company, predecessor to ConocoPhilips, completed 15 of the 21 total wells that penetrated the "J" sand oil reservoir in the Boyle Field.
Initial production of the wells completed in the "J" sand averaged 100 bopd on a 10/64" choke. Upon completion, the gas-oil ratios ranged from 341 cubic feet of gas per barrel to 2390 cubic feet per barrel. The total oil cumulative from the Boyle Field equals 1,259,675 barrels of oil.
The Company projects it will need to expand the field to ten wells during the next twelve months to develop the oil reserves. Canyon Creek projects oil production to reach 1,000 barrels of oil per day when the lease is fully developed. The cash flow value to the Company discounted at 10% is estimated over $27 million per year.
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. has over 60 wells located on more than 2,000 acres in the Fort Worth basin. In addition to the new acquisitions detailed above, the Company has also acquired properties located in Inez Field in Victoria County and Giddings Gas Field in Fayette County, Texas. Canyon Creek continues a drilling and revitalization program on all of its properties in order to improve production and bring more wells on line.
About UPDA
Universal Property Development and Acquisition Corporation (OTCBB:UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies. For additional information visit: www.universalpropertydevelopment.com.
About USPX
USProduction & Exploration, LLC, an independent production and exploration company located in Sugar Land, Texas, is engaged in the acquisition of oil and gas producing properties with multiple enhancement opportunities. USPX seeks high quality exploration drilling projects in conventional and unconventional reservoirs. The Company's approach to developing depleted reservoirs and unconventional gas is innovative: it combines horizontal, multilateral, with underbalanced drilling methods.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
SOURCE: Canyon Creek Oil & Gas Inc.
Peter Nasca Associates, Inc. (for Universal Property Development and Acquisition Corporation) Peter Nasca, 305-937-1711 info*updac.com
Copyright Business Wire 2005
Posted by strike1 on :
On an EOD Run here... HOD .74 +14%
Posted by JL on :
Pushing hard into close. Looks like we might have hit bottom Friday.
Posted by strike1 on :
We are a great candidate for the Amex and NASDAQ... Once we start posting earnings it could happen very easy... Also, with our reserves/valuation it should be easy... I think all shareholders should bring the idea to the attention of management through email, letters and phone calls... GL
Posted by JL on :
Strike Put It This WAy. AT 100 Million OS (its much less than that)....and reserves at 500mln(on the conservative side) and only to grow more and more from here. If UPDA's reserves were to be bought out at a DISCOUNT by a Major Oil Corp, We would have to bought for at least $3.00 imho. Management seems like a savy bunch and they know their investments/finances well.
Posted by strike1 on :
Canyon Creek Moves in Work-over Rig at its Archer County Regular Field Leases Tuesday October 18, 8:23 am ET
HOUSTON--(BUSINESS WIRE)--Oct. 18, 2005--Canyon Creek Oil & Gas Inc. (A joint venture of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) and USProduction & Exploration, LLC (USPX), a privately held Company) has delivered a work-over rig to its leases located in Archer County Regular Field. A work-over rig owned and operated by SCI Well Servicing moved to the East Vogtsberger Unit well No.1 to begin production enhancement procedures. The No.1 well was completed in the Vogtsberger sand at 4,735 feet. ADVERTISEMENT
Canyon Creek will pull the existing rods, down-hole pump and 2 inch tubing from the well. It will then order a new down-hole pump and test the tubing to 5,000 psi for integrity. The work-over rig will trip the new down-hole pump, rods and the tubing into the well. In order to further enhance the flow of oil, the well will be flushed with mild chemicals designed to clean corrosion and scale build-up formed over the open perforations.
"The work-over process on this well will take about two days to complete and then the rig will move to another well on the Vogtsberger Unit," says Canyon Creek's project geologist Steven Fall. "Canyon Creek will keep the rig in Archer County Regular Field until it has completed the 14 production wells located on the 960 acres. Altogether the Company expects to take a total of 24-28 days to complete the work-over process."
Canyon Creek has scheduled a logging company to rig-up on previously selected Unit wells to run gammaray-neutron correlation logs. These correlation logs will help the company geologist identify additional oil stringers in the Caddo and Vogtsberger sands. Once additional oil sands are identified, Canyon Creek will add perforations to increase flow rates.
Canyon Creek is also nearing completion of the modernization of its water disposal facilities on the property. The existing system was moved approximately 5,000 feet in order to be adjacent to the saltwater disposal well located on the leasehold. The salt-water disposal system has been modernized to accommodate the additional water anticipated after the work-overs are completed. New poly pipe flow-lines have been installed and the saltwater disposal pump overhauled. The Company purchased a new 300-barrel fiberglass storage tank as part of the upgrading process. The Texas Rail Commission has inspected and approved the completed stages of this modernization project.
Posted by strike1 on :
UPDA "Canyon Creek will keep the rig in Archer County Regular Field until it has completed the 14 production wells located on the 960 acres. Altogether the Company expects to take a total of 24-28 days to complete the work-over process."
14 more wells online by middle of next month is what I like..
Posted by JL on :
Lookin Good. Tryin to Shake. But Lookin Good nonetheless.
Posted by JL on :
Shake over?
Posted by JL on :
Consolidating. Looking good for EOD run or after consolidation is over.
Posted by strike1 on :
this trading activity is confusing almost on a daily basis. It's like the mm's want to hold it down... they will not raise it on buys but any sell they lower the bid quick?? JMO
Posted by JL on :
There use to be a wall of 4 MM's selling at .80....with only 1 buying at the bid at .79(SCHB). Now its .80x.81. So MM's playing a lot of games with this....well probably move green later on today.
Posted by servant_350 on :
what's going on with this one !!!!
doesn't move
Posted by strike1 on :
UPDA Contact INFO; ask the company what they are doing/going to do with with this dilution money? Voice your concerns about this... When will it stop? From what the a/s shares are 100m...
Contact: Peter Nasca Associates, Inc. (for Universal Property Development and Acquisition Corporation) Peter Nasca, 305-937-1711 info*updac.com
O/S 19,844,027 with restricted around 1.4 million
Call them if you want.. post what you find Daily ============================================
Integrity Stock Transfer Service
Contact Us Telephone: (702) 317-7757
Posted by strike1 on :
UPDA Subsidiary West Oil & Gas, Inc. Reports Preliminary Production Information; Work-Over Project Continues in Utah 10/24/05
SALT LAKE CITY, Oct 24, 2005 (BUSINESS WIRE) -- The management of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) and Dark Horse Exploration, Inc. recently met in Salt Lake City, Utah, in order to review preliminary production reports and the progress of the well revitalization project undertaken by West Oil & Gas, Inc., the joint venture they have recently established with Masaood Group, USA.
The preliminary reports indicate that West is producing over 4,500 mcfg per day from three of its six wells. Since the beginning of October, over 34 million cubic feet of gas (34,000 mcf) has been registered on the sales meter at the great Devil Tap.
West has completed the work-over of two of its wells. On the DD 11-29, West has performed secondary stimulation procedures and installed a new separator and down-hole pump. This well has now been in production for approximately one week, producing about 1.5 million cubic feet of natural gas per day.
As previously reported, the DD 1-18 was the first well which was stimulated. It has also had its separator repaired and has been in production for 10 days this month at the approximate rate of 3.0 million cubic feet gas per day of production.
The natural gas pipeline to the DD 23-20 was recently repaired and a work-over rig will be brought to the site this week. After work is complete on 23-20, the rig will be moved to the DD 23-17. These wells will be re-completed to the Mesaverde payzone from the Wasatch. It is expected that both of these wells will be in production by or before early November.
According to Byron "Woody" Woodard, "the 23-20 and 23-17 should produce at least as much natural gas as the 1-18 once they are re-completed. The 23-20 should not even need a compressor. The pressure generated from the well will be sufficient to pass the gas through the sales meter without additional compression."
The DD 41-9 is also in production making gas and oil although it will be the last on which work-over procedures will be performed. Prior to that time, considerable work will be performed on the DD 31-15 in order to connect it to the gathering system and ready it for production.
West transports its gas through its own gathering system and generates additional revenue by transporting other producers' gas through its gathering system to the great Devil Tap on the Questar Pipeline. Prices for the natural gas, which is sold through the Wasatch Gathering System, are set by the Questar Index. Recent prices on the Questar Index have ranged from $8.00 to $10.00 per mcf.
Posted by Andreas on :
UPDA Projects 4th Quarter Revenue Of Subsidiaries - Should Approach Or Exceed $5 Million Per Month(a)
October 25, 2005 08:23:01 (ET)
JUNO BEACH, Fla., Oct 25, 2005 (BUSINESS WIRE) -- The management of Universal Property Development and Acquisition Corporation (UPDA, Trade) has completed the refinement of its business model in order to focus on oil and natural gas development and finalized its strategic planning and revenue forecasting for Canyon Creek Oil and Gas, Inc., its Texas subsidiary, and West Oil and Gas, Inc., its subsidiary in Utah.
After meeting with the management of those subsidiaries over the course of the past month, UPDA is prepared to project the subsidiaries will generate gross revenues approaching or exceeding $5 million per month by the end of the 4th Quarter of 2005(a).
Since July, Canyon Creek, a joint venture with USProduction and Exploration, LLC. (USPX), has acquired seven oil and gas fields totalling over 3200 acres. It is performing a revitalization project in 5 of the fields and will have wells in each field in production this quarter. Conservative production estimates for the wells that will be brought on line this quarter indicate that Canyon Creek will produce approximately 100,000 mcf of natural gas(a) and more than 4250 barrels of oil per month(a).
Conservatively assuming gas prices of $10.00/mcf and oil prices of $60.00/barrel, Canyon Creek will be generating nearly $1.4 million per month of gross revenue(a). UPDA has recently agreed to increase its stake in Canyon Creek to 65%.
In October, UPDA entered into a joint venture with Dark Horse Exploration, Inc. and Masaood Group, USA and established West Oil & Gas, Inc. in order to develop the 4000 acre Dirty Devil Gas Field in Uintah County, Utah. Two wells are presently generating about 4500 mcfg per day. Three additional wells will be brought on line during this quarter, increasing conservative production estimates to nearly 320,000 mcfg per month(a). Should natural gas prices continue to increase as anticipated, West will generate as much as $3.5 million per month or more by the end of the 4th quarter(a). UPDA owns 60% of West.
The chart below details these production estimates.
CANYON CREEK OIL & GAS, INC. Lease Acreage Wells Producing Oil Natural Gas In 4th Quarter Production(a) Production(a) Coleman (Hagler) 915 12 900bopm 1,800mcfgm Archer County 960 14 1,200 Palo Pinto 614 10 360 1,500 Inez 243 1 1,950 78,000 Fayette (Giddings) 80 1 300 9,000 Prideaux 40 1 60 6,000 Boyle Field 369 4 450 WEST OIL & GAS, INC. DD 11-29 45,000 DD 1-18 90,000 DD 23-20 90,000 DD 23-17 90,000 DD 41-19 1,800 The Dirty Devil Wells will generate nominal amounts of oil which have not been projected.
(a) Based on partial production and/or historical results.
About UPDA
Universal Property Development and Acquisition Corporation (UPDA, Trade) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies. For additional information visit: www.universalpropertydevelopment.com.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
SOURCE: Universal Property Development and Acquisition Corporation (UPDA)
Peter Nasca Associates, Inc. (for Universal Property Development and Acquisition Corporation) Peter Nasca, 305-937-1711 info*updac.com Copyright Business Wire 2005
Posted by strike1 on :
UPDA has recently agreed to increase its stake in Canyon Creek to 65%.
Posted by strike1 on :
UPDA: Starting to rock on news!
Over $5 Mil/Month by EOY!
Posted by strike1 on :
Trend reversal underway! Upward momentum now just like how they brought it down... +35%....JMHO
Posted by jackell on :
UPDA flying today!
Posted by hammond_man on :
Still climbing! I would BUY/HOLD an adequate position until 4Q financials are out. This is a great position trade.
Posted by AR on :
Any idea when are they going to announce 4Q results?
Posted by strike1 on :
UPDA: Ramping up for run next week! News of funding for a new project also on the way!
Posted by strike1 on :
Exactly.. 4qtr Results should be out late Jan-early feb 2006... EVERONE wil be Very happy
quote:Originally posted by hammond_man: Still climbing! I would BUY/HOLD an adequate position until 4Q financials are out. This is a great position trade.
Posted by jackell on :
up 30% closed at HOD
Posted by Raptorsrule on :
I jumped back in this today....chart looks sweet...we need a confirmation on Mon.
Posted by abram on :
Regardless of the falsely reported improving economy, natural gas will be the best market this winter! m.o.
Posted by Raptorsrule on :
UPDA Subsidiary Canyon Creek Acquires 267.73 acre Lease in Boyle Field, Starr County, Texas Monday October 31, 8:21 am ET
HOUSTON--(BUSINESS WIRE)--Oct. 31, 2005--Canyon Creek Oil & Gas, Inc. (a Joint Venture of USProduction & Exploration, LLC (USPX), a privately held Company, and Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News)) has completed the acquisition of a 266.73-acre oil and gas lease in Starr County, Texas. Canyon Creek has forwarded the lease documents and assignment and the bill of sale to the Starr County Clerk's Office for recording. ADVERTISEMENT
The Company will hire an engineering firm to oversee the implementation of a water flood project to recover the maximum amount of oil from the reservoir. Once the water flood procedure is fully operational, the Company projects monthly cash flow, assuming prices of $57.00/barrel of oil and $9.50/mcfg, at nearly $1 million, after deducting for lease royalties, operating expenses and taxes.
The lease is located in the Boyle Field, an oil field that has produced over 1,259,000 barrels of oil. The Company conservatively estimates the remaining reserves total over 1,283,000 barrels of oil and 242,900 mcfg.
The purchase agreement provides for Canyon Creek to acquire 102 additional acres on which it expects to close within 30 days. The Company intends to drill and complete ten additional wells during the next twelve months to further develop the oil reserves. Oil production is projected to reach 1,000 barrels of oil per day when the lease is fully developed.
"This leasehold acquisition in Starr County is significant because it adds proven reserves to our portfolio," said Canyon Creek's president, Donald Orr. "We know the oil is there and the geology is straightforward. We are confident this field has many years of production ahead of it."
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek now has over 60 wells located on more than 2,000 acres in the Fort Worth basin. In addition to this most recent acquisition, the Company has also acquired properties located in the Inez Field in Victoria County and the Giddings Gas Field in Fayette County, Texas. Canyon Creek continues a revitalization program on all of its properties in order to improve production and bring more wells on line.
About UPDA
Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies. For additional information visit: www.universalpropertydevelopment.com
About USPX
USProduction & Exploration, LLC, an independent production and exploration company located in Sugar Land, Texas, is engaged in the acquisition of oil and gas producing properties with multiple enhancement opportunities. USPX seeks high quality exploration drilling projects in conventional and unconventional reservoirs. The Company's approach to developing depleted reservoirs and unconventional gas is innovative: it combines horizontal, multilateral, with underbalanced drilling methods.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
-------------------------------------------------------------------------------- Contact: For Universal Property Development and Acquisition Corporation Peter Nasca Associates, Inc. Peter Nasca, 305-937-1711 info*updac.com
Posted by strike1 on :
UPDA: UPDA Retains Investment Banker in China Tuesday November 8, 9:23 am ET
JUNO BEACH, Fla.--(BUSINESS WIRE)--Nov. 8, 2005--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) has hired Optech Limited and Nice Capital Limited of Admiralty, Hong Kong and Xicheng District, Beijing, People's Republic of China to serve as its investment bankers in Hong Kong and China. ADVERTISEMENT
Charles Hsin, a principal of these firms and a former Vice President of Citibank New York has been a UPDA consultant since May of this year. Mr. Hsin has been diligent in exploring alternative financial sources for UPDA throughout Eastern Asia.
As its consultant, Mr. Hsin is assisting UPDA in raising capital, investment banking in China and Hong Kong. He has also undertaken to introduce UPDA to international investors who are interested in opportunities in oil and natural gas exploration and production in the United States.
"We recognize that the oil and natural gas business is capital intensive," said UPDA Vice President, Chris McCauley. "Optech and Nice will assist us in meeting these capital requirements so that we may continue our aggressive program of acquisition, revitalization and drilling. UPDA is always looking for sources providing financial opportunities that will lessen the dilution of shareholders' interest and at the same time allow us to maximize shareholders' value."
"The relationship with Optech Limited and its affiliates in China and Hong Kong presents an added value to UPDA," continued McCauley. "It expands our horizon and opens new financial doors which will enable us to pursue additional and bigger oil and gas opportunities."
About UPDA
Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies. For additional information visit: www.universalpropertydevelopment.com Posted by strike1 on :
Should ease fears of dilution!
Posted by strike1 on :
News today... Is everyone out now or still in?
Posted by Raptorsrule on :
chart broke down...I got out Monday. Watching the chart for a bounce and confirmation
Posted by strike1 on :
Thanks, I got rid of the rest of mine also. charts did look just tooooo bad. I don't think they will post good numbers with the news they just came out with... next increase will come going into earning in late ja/feb 06' as they bring more wells online... no news from the DRE deal also..
quote:Originally posted by Raptorsrule: chart broke down...I got out Monday. Watching the chart for a bounce and confirmation
Posted by strike1 on :
UPDA: (BSNS WIRE) Canyon Creek Oil Production Approaches 1000 Barrels - Results Exceed Expectations in Archer County Regular Field Business Editors / Energy Editors
HOUSTON--(BUSINESS WIRE)--Dec. 27, 2005-- Canyon Creek Oil & Gas Inc. (A joint venture of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) and USProduction & Exploration, LLC. (USPX), a privately held Company) continues to increase its daily oil production. As previously reported, Canyon Creek tested its #1 Block Estate at a rate of 450 bopm. Since its initial oil production last week the well has gradually increased to 600 bopm. Canyon Creek continues to monitor the well for further increases. "We are very pleased with the performance with this well," said Donald Orr, president of Canyon Creek. "The daily oil rate far exceeds the 10-year production average for this single well by a factor of six. Based upon other factors that we are monitoring at the well head we are expecting this well to continue to increase its daily production." With 8 additional wells ready to come on line, Canyon Creek expects to add significantly to its current daily oil production. With Archer County Regular Field and Hagler Capps Lime Field now producing, the Company is making nearly 1000 bopm to the stock tanks. "This is going to dramatically increase as additional wells are brought on line in these fields in the new few days," continued Orr. Canyon Creek also is reporting that rig #28 owned by C. C. Forbes, LP has moved to its #1 Roberts Unit well located in Inez Field, Victoria County, Texas. The Company plans to re-enter the well and complete in the prolific Yegua Sand at 8,500 feet. Current operations are slowed due to the amount of gas entering the well at this time. This well when initially completed flowed at the rate of 80,000 mcfg/m and 2000 bopm according to Railroad Commission of Texas productions records.
About UPDA
Universal Property Development and Acquisition Corporation (OTCBB:UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies. For additional information visit: www.universalpropertydevelopment.com.
About CCOG
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin. The Company has also acquired properties located in Inez Field in Victoria County and Giddings Gas Field in Fayette County, Texas. Canyon Creek continues a revitalization program on all of its properties in order to improve production and bring more wells on line.
About USPX
USProduction & Exploration, LLC, an independent production and exploration company located in Sugar Land, Texas, is engaged in the acquisition of oil and gas producing properties with multiple enhancement opportunities. USPX seeks high quality exploration drilling projects in conventional and unconventional reservoirs. The Company's approach to developing depleted reservoirs and unconventional gas is innovative: it combines horizontal, multilateral, with underbalanced drilling methods.
Posted by iiiqqqeg on :
what's wrong with this stock !!!!! ....
is it bottom right now?
Posted by netfreak on :
Hello Everyone:
Is there any news that this stock will be going up any time soon??? Is this a good time to buy this stock since it close to its 52week low???
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