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Natural Gas Pipeline Construction Continues at Catlin Field -- Oil Sales Increase as Additional Wells Turned to Production Thursday September 21, 6:00 am ET
JACKSBORO, Texas--(BUSINESS WIRE)--Sept. 21, 2006--As natural gas pipeline construction continues at the Catlin Oil and Gas field in Jack County, Texas, Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) subsidiary Ambient Wells Services, Inc. has turned additional wells to production. ADVERTISEMENT
During the past week, nearly 500 barrels of oil have been sold from only 3 of the 32 leases included in the Catlin workover project as Landmark 4, LLC and Rockey Well Services report their successful progression through the field. The pace of the project continues to increase as additional equipment arrives at the site.
"We are confident we can complete this project within the 60-day bonus period," reports Steve Swain, Landmark field superintendent. "We now have all of our equipment and personnel deployed and intend to work from dawn to dusk seven days a week in order to return this field to full production. The wells we have completed to this point have exceeded even our most optimistic expectations. As we complete the workover of the wells and the repair of the pipeline, the delivery of production will continue to expand."
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.
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: Universal Property Development and Acquisition Corporation Bradford Moore, 561-630-2977 (Investor Relations) info*updac.com
Posts: 957 | From: grand rapids, MI | Registered: Feb 2006
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wow looking reall good now for breakout.. i am going to buy more at .096 if we break it...i am adding a huge lot...i think this will be a big runner...its wayyyyyy overdue!
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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here comes a dime damn i am feeling so happy and giddy right now, never thought i would see .10 on this one ever again, even if i like to see 250 years old!
looks like dilution is doone and this one is ready to move up
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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yeah madge, its all good though if the others dont want to play, they are probably on another good stock, but this going to be the big winner of the day....i hope
here comes .10...this is sweet! i am fully loaded up in UPDA but still on the .10 break i will be adding even more!
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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