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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.
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.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.
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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.
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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.
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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.
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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.
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Now we are partners with the United Arab Emirates:
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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.
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quote:Originally posted by strike1: Now we are partners with the United Arab Emirates:
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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.
-------------------- Raptor----Don't confuse bad luck with bad judgement
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