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UPDA found support today at .017 witch is the gap that it had to fill from the last run. Has now bounced off the support and is re-entering into a uptrend check out the chart and you will see what happened last time from .17 went back up to near .50... Also this stock has been putting out alot of good news recently should be a nice play for the rest of the week and into tommorow for sure.
Posts: 1011 | From: ct | Registered: Mar 2005
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UPDA Subsidiary Texas Energy, Inc. Delivers First Oil Production -- Turns Additional Wells Online
March 27, 2006 09:01:02 (ET)
GRAHAM, Texas, Mar 27, 2006 (BUSINESS WIRE) -- Universal Property Development and Acquisition Corporation (UPDA, Trade) subsidiary, Texas Energy, Inc., last week delivered its first tank of crude oil and continues to turn additional wells to production on its leases in Young County, Texas.
The first production of Texas Energy, a load of 150 barrels, was sold to Sunoco (SUN, Trade) (www.sunocoinc.com) from the Nantz lease. Texas Energy will be paid for this crude oil within 45 days based on the spot price of West Texas Intermediate crude on the date of delivery.
Texas Energy is also completing the replacement of the motors on the pumping units of three wells on its Wiechman lease. These wells had been online prior to the motor damage caused by the recent storms in northern Texas.
Work on the Thresher-Medlin leases also continues and it is expected that the flood waters will recede this week and allow for the delivery of a work over rig. New tubing and rods will be onsite on Monday and roustabout crews continue to clear lease roads and prepare the well sites in anticipation of these deliveries.
"We are working hard returning wells to production," reports Andy McDermett, Jr., Texas Energy's field superintendent. "With the money provided by UPDA, we will be able to complete the workover of all of the wells and perform maintenance as necessary to keep them online. We look forward to completing these efforts without delay."
The production from each of its subsidiaries will be reported by UPDA as it continues to expand and update its website at: www.universalpropertydevelopment.com.
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.
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
Universal Property Development and Acquisition Corporation Bradford Moore, 561-630-2977 (Investor Relations) info*updac.com Copyright Business Wire 2006 ********************************************************************** As of Thursday, 03-23-2006 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 04-25-2005 for SUN * $105.25. (C) 2006 Comtex News Network, Inc. All rights reserved.
Posts: 1011 | From: ct | Registered: Mar 2005
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quote:Originally posted by firefighterswct: nice close near HOD should be a good day tommorow
Nice close is an understatement. That baybe is about to enter breakout mode.
This is the first leg of UPDA's run, imo. Huge volume spike today sent it on its way - notice the initial volume spikes on its previous runs before the huge run up. Also notice the macd crossing over a very powerful bullish signal and to mention that the RSI is uptrending uptrending from below 50, just like it did in its two pervious multibagging runs. Furthermore, unlike many other pennies there is no dilution to slow the roll here. I am going to keep loading the boat tommorow.
Posts: 70 | From: New York City | Registered: Dec 2005
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Wow yeah good point ZOSYN everytime the RSI breaks .50 it goes into a major uptrend!! looks likes it should break it tommorow IMO
Posts: 1011 | From: ct | Registered: Mar 2005
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Holding very well. This is going to be hot for another week. Good entry point here.
Posts: 63 | From: Atlanta, GA | Registered: Dec 2005
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this will pop before long I moved $5000.00 over should be cleared by monday just dont pop before then.
Posts: 154 | Registered: Mar 2006
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Retraced a tad from yesterday which can be expected after the big run....I think it should see a nice pop again after the accumulation that took place today and the PR that should be released this week based on the previous PR....
Posts: 43 | Registered: Jan 2006
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