posted
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.
Posts: 604 | Registered: Aug 2005
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posted
1.00 potential either today or tommorow.....up to the MM's and when they want to cover their shorts.
Posts: 604 | Registered: Aug 2005
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posted
.90s. Anything under .90 before close is good deal. But i doubt youll get much time to get some.
Posts: 604 | Registered: Aug 2005
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posted
This is big news today and with what they have going on! Once people realize, then we will go 2-Da Moon!
Posts: 416 | Registered: Jul 2004
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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
Posts: 598 | From: San Jose, CA USA | Registered: Nov 2003
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posted
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.
Posts: 604 | Registered: Aug 2005
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posted
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.
posted
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
-------------------- I may be wrong, but I don't think so.... Posts: 837 | From: Madison, WI | Registered: Sep 2005
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posted
.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."
Posts: 604 | Registered: Aug 2005
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"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
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
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.
Posts: 416 | Registered: Jul 2004
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posted
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,"
Posts: 416 | Registered: Jul 2004
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posted
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
Posts: 604 | Registered: Aug 2005
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posted
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
Posts: 412 | From: NYC | Registered: Aug 2005
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