posted
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
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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.
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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.
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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..
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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
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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.
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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...
posted
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.
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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
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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.
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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
-------------------- Raptor----Don't confuse bad luck with bad judgement
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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
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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
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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.
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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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