UPDA: Gapping Huge today! Look for it to run past yesterday's HOD .505!
Posted by strike1 on :
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 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 Wallace#1 on :
OTC Picks release
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 :
UPDA: Vol Alert On great news!
Posted by permanentjaun on :
She gonna run or what? Quite a few shakes. Matt
Posted by strike1 on :
I think it will once we get some profit takers out of the way early... I look for a run to really begin after lunch and into the close... JMHO
Posted by strike1 on :
UPDA: 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 Chas35 on :
todays news is probably the reason for the run yesterday
Posted by strike1 on :
Yes, somebody knew...
Volume coming back in... Bid building strong... Running into the EOD... and Possible gapper in Morning!
quote:Originally posted by Chas35: todays news is probably the reason for the run yesterday
Posted by Andreas on :
What exactly is a 'gapper' ?
Posted by strike1 on :
Opens higher than the previous day's close.. GL
quote:Originally posted by Andreas: What exactly is a 'gapper' ?
Posted by Andreas on :
OK - thanks, strike1.
I wasn't sure if you would call it 'gapper' if it opens lower. (I am German - still need to get familiar with some terms) Posted by permanentjaun on :
Technically it would still be a gapper but for the most part when people are talking about a gapper they are referring to one that opens positive. Matt
Posted by strike1 on :
New HOD .84... next resistence is .88 and then it is breakout time!
Posted by Andreas on :
My etrade Level2 shows (on the bid side):
CDEL 6080.0000
All other bids are below .88
Can someone explain that to me briefly - please?
Thank you
Posted by strike1 on :
I checked it on my etrade and it is a L2 misprint... CDEL is just stuck there so just ignore him....
here we go EOD Run.... New HOD .92
------------------------------------------
quote:Originally posted by Andreas: My etrade Level2 shows (on the bid side):
CDEL 6080.0000
All other bids are below .88
Can someone explain that to me briefly - please?
Thank you
Posted by Andreas on :
Now the question is - holding and waiting for the 1.00 to break or selling and getting back in in the morning 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 Wallace#1 on :
My opinion only, but I think UPDA can go quite a bit higher. Do your own DD. Talk of natural gas price hikes and winter months coming on shortly.
Posted by newpenny on :
How low do you think it will go after people take profits at dollar mark? If hittihg $1 has awakened new 1+ buyers i think iwould be afraid to day trade it right now?? (don't have much exp with my stocks making it to 1)
Posted by Wallace#1 on :
I am guessing profits have already been taken and it climbed to $1 afterward. Have no idea where it might go from here, as stated, with rising gas prices and winter coming on, maybe up. I would, however, watch it VERY carefully at this point and see what happens at the $1 mark.
PS: Two main reservations. One is that it is a Nevada corporation. Second is the fundamentals, but this particular market does not care much about fundamentals.
Posted by hammond_man on :
Huge news out this A.M.,...
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
Posted by strike1 on :
concur..this is huge!
quote:Originally posted by hammond_man: Huge news out this A.M.,...
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
Posted by hammond_man on :
Looking good, we should see a new High today or tomorrow A.M.
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 permanentjaun on :
Green day for UPDA?
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 strike1 on :
On an EOD Run here... HOD .74 +14%
Posted by rider3160 on :
its going to gap hard
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 and contact...
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 rider3160 on :
looking good should see $1
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 rider3160 on :
looking good
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 Monday October 24, 8:37 am ET Work-Over Project Continues in Utah
SALT LAKE CITY--(BUSINESS WIRE)--Oct. 24, 2005--The management of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) 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. ADVERTISEMENT
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 Dirty 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 Dirty 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.
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.
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: Peter Nasca Associates, Inc. (for Universal Property Development and Acquisition Corporation) Peter Nasca, 305-937-1711 info*updac.com
Posted by strike1 on :
UPDA Projects 4th Quarter Revenue Of Subsidiaries - Should Approach Or Exceed $5 Million Per Month(a) Tuesday October 25, 8:23 am ET
JUNO BEACH, Fla.--(BUSINESS WIRE)--Oct. 25, 2005--The management of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) 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. ADVERTISEMENT
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.
Posted by strike1 on :
Trend reversal underway! Upward momentum now just like how they brought it down... +35%....
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 :
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.
Posted by Katrina7 on :
Hey strike--think I met you over on diaaf. Jumped back into this today after flipping it a few times. What's up with the os & as?
Also some folks over on rb talking about revenues from this past quarter--any comments?
![[Smile]](smile.gif)