Hi !
Canyon Creek Preparing to Initiate Oil and Gas Production at its Coleman County Wells
Revenues in Excess of $30 Thousand Per Month Projected From Hagler Capps Lime Field
Sep 20, 2005 7:05:00 AM
2005 PrimeZone Media Network
HOUSTON, Sept. 20, 2005 (PRIMEZONE) -- Canyon Creek Oil & Gas Inc. (A Joint Venture Company between Universal Property Development and Acquisition Corporation (OTCBB:UPDA) and USProduction & Exploration, LLC, a privately held Company) today announced that its program to revitalize oil and gas wells located on its properties in the Fort Worth basin continues as planned.
The Company said work on the Hagler Capps Lime Field in Coleman County, Texas is nearly complete. The Hagler Capps Lime Field is comprised of 2 leases totaling 915 acres and 12 wells. Eight wells produce oil and gas, 3 wells are injectors, and one is a water supply well.
Continental Oil Company, predecessor to ConocoPhilips (NYSE:COP), discovered the Hagler Capps Lime Field in 1954 and the field has a cumulative production of over 1,140,000 barrels of oil. The oil produced from the Capps lime formation is found between 1,900 and 2,000 feet below the surface. Continental successfully initiated water flood procedures on the west side of the field to enhance oil recovery soon after the field was discovered. However, water flood procedures were never utilized on the east side of the field where 4 wells still produce oil free of water.
Steven A. Fall, Canyon Creek's project geologist, has mobilized road building equipment and a roustabout crew to make ready the roads and tank battery site. Canyon Creek has already received a permit and will begin to inject produced water into the oil sand at the number 1-B East Hagler well located on the east side of the field to increase production.
"Canyon Creek is ready to turn on the 5 existing oil wells this week and the initial production is anticipated to be 8-12 barrels per day and 30 mcf gas per day," said Fall. "Once water is injected into the number 1-B Hagler well, production should increase to 30 bopd within 90 days."
Once the water flood is fully operational on the east side of the field, the production rate should increase to 900 bopm and 900 mcfgpm. Projected monthly cash flow, after deducting for royalties, lease operating expenses and taxes, at $50.00/barrel and $7.50/mcfg is approximately $33,000.00.
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 in excess of 60 wells located on over 2,000 acres in the Fort Worth basin in its expanding portfolio. The Company is also evaluating properties for Barnett Shale prospects.
(//)
Good luck.
Evgeny.
now 0.28 +0.02 on the following pr, http://biz.yahoo.com/prnews/051003/lam096.html?.v=21. might move no?
catrader...I don't know anything about the company, but this:
"UPDA will operate call centers designed to be multimedia contact centers, able to facilitate computer telephony integration technology, thereby enabling all forms of Internet, cable and telephony commerce. For the 6 months ended 6/30/05, the Company reported no revenues. Net loss totaled $6.3M, up from $529K. Revenues reflect the absence of revenue generating activities, and $6.1M in consulting fees."
and the chart:
guess that can be one of the subsidiary businesses, anyways still running now 0.345 +0.085
Universal Property Development Subsidiary Reports Natural Gas Production Exceeds Projections - Revenue Expected to Be 100% Greater Than Forecast
Monday October 3, 1:42 pm ET
JUNO BEACH, Fla., Oct. 3 /PRNewswire-FirstCall/ -- Universal Property Development and Acquisition Corporation (OTC Bulletin Board: UPDA - News) has been informed by the management of its subsidiary, Canyon Creek Oil and Gas, Inc., a joint venture with USProduction & Exploration, LLC (USPX), a privately held Company, that production of natural gas from its Hagler leases in Coleman County, Texas has greatly exceeded its original projections. Revenue from that production may be more than 100% greater than originally announced.
Could be explosive, since stock coming off of bottom. Donnot see much risk from here.
Nice little move with some good volume on it.
I'm going to watch this one with you.... ;D
Bidding up pre-open. ;D
Thank you Saffey for the chart. I invested in this today and I agree that there is no risk from here. The only way is up.
Happy Trading
-digit
I nibbled some as well.
Hey nice pick Saffeysite!
Any projections as to how high this may go...i am considering buying in.
Thanks!
Goodluck! ;D
julia
Applaud for a great pic...the only green on my screen yesterday.
Hopefully it will stay above the 50(MA).
Jody
FYI, I took profits today for a nice 30% gain...it may have more but I don't like the current general funkiness of the market.
on fire today :) 0.53 +0.11
Was going to buy this several days ago in the 03's but went elsewhere...it's still flying today...up another 30 plus %..... :o ;D
maybe next time runforthedoor. Sometimes we miss th best ones. Fortunately I was able to get in early.
Great call guys..
I was wondering any other stock which is stuck in .25 - .32 with 1 mill atleast traded everyday and have signs of life (Example: HQSM, SQUM, ZENX).. I have cash in my hand... I wont go in UPDA now as its 300% up from it initial runup....
Any stock tips appreciated
This company has a tiny Nano cap of of 6.22 million and traded record volume today and went up 67%. PR's have been pushing this one up since the beginning of this month. I think we have have seen a bottom to this one and are in need of another rally.
Just check out some of the recent PR's, You may be convinced.
Universal Property Development Enters Joint Venture for Natural Gas and Oil Field on 4,000 Acres In Utahhttp://biz.yahoo.com/prnews/051011/nytu098.html?.v=26
UPDA Subsidiary Canyon Creek and West Texas Gas Finalize Gas Purchase and Processing Agreement for Casinghead Gas in Coleman County http://biz.yahoo.com/prnews/051006/lath060.html?.v=34
Universal Property Development Subsidiary to Initiate Oil and Gas Production at Its Palo Pinto County Regular Field http://biz.yahoo.com/prnews/051004/latu072.html?.v=29
Universal Property Development Subsidiary Reports Natural Gas Production Exceeds Projections - Revenue Expected to Be 100% Greater Than Forecast http://biz.yahoo.com/prnews/051003/lam096.html?.v=21
Universal Property Development Continues Expansion Through Canyon Creek Subsidiary http://biz.yahoo.com/pz/050929/87003.html
Canyon Creek Finalizing Gas Purchase and Processing Agreement for Its Casinghead Gas in Coleman County http://biz.yahoo.com/prnews/050928/law059.html?.v=30
Sunoco to Purchase Oil From Canyon Creek's Fort Worth Basin - Natural Gas Production and Well Revitalization Program Unaffected By Hurricane Rita http://biz.yahoo.com/prnews/050926/lam064.html?.v=25
Alot of good news comin out latley for this company. Take a gander at the chart as well. Im thinking of possibly filling a position tomorrow morning. Feedback is always appreciated.
-fousc
$1 buck at the close. :o :o Unbelievable! I sold 1/3 at .97 which was a three bagger. My rule of thumb with the pennies is to always book some profits if it triples from my buy point.
If I can get a 4-bagger (quad-bag?) on my remaining UPDA shares I will sell them as well.
I can't remember who bought UPDA to my attention. I don't think it was here. May have been mentioned on some message board on Yahoo or RB. Whoever it was, wherever you are, muchos karma to you!
This company has a tiny Nano cap of of 6.22 million and traded record volume today and went up 67%. PR's have been pushing this one up since the beginning of this month. I think we have have seen a bottom to this one and are in need of another rally.
Just check out some of the recent PR's, You may be convinced.
Universal Property Development Enters Joint Venture for Natural Gas and Oil Field on 4,000 Acres In Utahhttp://biz.yahoo.com/prnews/051011/nytu098.html?.v=26
UPDA Subsidiary Canyon Creek and West Texas Gas Finalize Gas Purchase and Processing Agreement for Casinghead Gas in Coleman County http://biz.yahoo.com/prnews/051006/lath060.html?.v=34
Universal Property Development Subsidiary to Initiate Oil and Gas Production at Its Palo Pinto County Regular Field http://biz.yahoo.com/prnews/051004/latu072.html?.v=29
Universal Property Development Subsidiary Reports Natural Gas Production Exceeds Projections - Revenue Expected to Be 100% Greater Than Forecast http://biz.yahoo.com/prnews/051003/lam096.html?.v=21
Universal Property Development Continues Expansion Through Canyon Creek Subsidiary http://biz.yahoo.com/pz/050929/87003.html
Canyon Creek Finalizing Gas Purchase and Processing Agreement for Its Casinghead Gas in Coleman County http://biz.yahoo.com/prnews/050928/law059.html?.v=30
Sunoco to Purchase Oil From Canyon Creek's Fort Worth Basin - Natural Gas Production and Well Revitalization Program Unaffected By Hurricane Rita http://biz.yahoo.com/prnews/050926/lam064.html?.v=25
Alot of good news comin out latley for this company. Take a gander at the chart as well. Im thinking of possibly filling a position tomorrow morning. Feedback is always appreciated.
-fousc
Fousc,Fousc,Fousc,......Just a heads up. Guess What?
Our OTCBB, Pink Sheets, as we like to call penny stocks. Go on the
Penny Stock Picking Board. This board(Stock Picking Board) is reserved for stocks listed on the Nasdaq,NYSE,AMEX, ect......as we like to call them the Big Boys.
Good Luck in all your trades.....have a nice day...... ;)
Here is a link to the thread on this pick.
http://www.3stocksonfire.org/trading/index.php?topic=2989.0
Quote from: setravis on October 12, 2005, 06:17:28 AM
Fousc,Fousc,Fousc,......Just a heads up. Guess What?
Our OTCBB, Pink Sheets, as we like to call penny stocks. Go on the
Penny Stock Picking Board. This board(Stock Picking Board) is reserved for stocks listed on the Nasdaq,NYSE,AMEX, ect......as we like to call them the Big Boys.
Good Luck in all your trades.....have a nice day...... ;)
Here is a link to the thread on this pick.
http://www.3stocksonfire.org/trading/index.php?topic=2989.0
Thanks for the update setravis, Please just call me a dumb shit, im young and drunk , one of these days i'll post on the correct board.
-fousc
Quote from: fousc on October 12, 2005, 06:25:54 AM
Thanks for the update setravis, Please just call me a dumb shit, im young and drunk , one of these days i'll post on the correct board.
-fousc
I wouldn't call you that! Was the beer good?
Grab yourself a cup of nice hot black coffee.It's almost time to go to work.
Let's make some $$$$ in the market today!!! ;D
Let's rock and roll.......Have a money making day ;)
Nice charts by the way! (applaud)
i don't know about time to go to work. But i have to got to Anthropology 330 at 9 AM does that count?
Haha yes the alcohol was excellent. Not beer but Barbarosa spiced rum. Cheap and decent.
Im glad you and others have noticed this pick. I'll be sure to post on your original board with my analysis.
How many times must i say it............. I love 3SOF, Thanks Dave and Ramsburg........ (applauds) setravis
-fousc
It was me who bought UPDA. THX
Looks like the a retracement from the rally has began, Ill be looking to pick some once this retracement bottoms out.
Good luck everyone.
-fousc
2005-10-13 07:55:01
West Oil & Gas, Inc. Established for UPDA Joint Venture in Utah -- Gas Production Initiated
--------------------------------------------------------------------------------
Business Editors / Energy Editors
SALT LAKE CITY--(BUSINESS WIRE)--Oct. 13, 2005--
Universal Property Development and Acquisition
Corporation (OTCBB:UPDA) 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.
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.
About Universal Property Development --
www.universalpropertydevelopment.com
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.
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.
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,"
Holding up....
Price action in approaching that small gap that formed on 10/11/05. Im hoping to not see a close to fill the gap at .60. If we have a white day on monday it will break the descending trend of the retracement and i'll likely be picking some up depending on availability of my funds.
good luck everyone,
-fousc
UPDA: On an EOD Run here... HOD .74 +14%
UPDA's price action bounced off my support line at .60 to close up 25% today. Looks like a buy signal to me. Though im fully invested >:(........... Anyone wanna lend me some money? ;)
-fousc
UPDA's price action bounced off my support line at .60 to close up 25% today. Looks like a buy signal to me. Though im fully invested Angry........... Anyone wanna lend me some money? Wink
-fousc
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 and contact... :)
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.
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.
14 more wells online by middle of next month is what I like..
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."
Perhaps this news will reverse direction today... :-\ ;D
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2005%5C10%5C25%5C71671427.html%26clientid%3D168%26provider%3DBUSINESS_WIRE&symbol=UPDA
Today's news:
UPDA Projects 4th Quarter Revenue Of Subsidiaries - Should Approach Or Exceed $5 Million Per Month(a)JUNO BEACH, Fla.--(BUSINESS WIRE)--Oct. 25, 2005--The management of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) 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.
ADVERTISEMENT
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 (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.
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:
Peter Nasca Associates, Inc. (for Universal Property
Development and Acquisition Corporation)
Peter Nasca, 305-937-1711
[email protected]
Sorry for the double post. Maybe the threads could be combined.
Jody
like this also in news
"UPDA has recently agreed to increase its stake in Canyon Creek to 65%."
UPDA; Trend reversal +35% HOD .60
UPDA: Ramping up for run next week! New project also on the way! :)
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.
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.
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
Should ease fears of dilution!
The real earnings report that will launch us will be the 4th qtr probably out late jan early feb for this current quarter.
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.
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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
News today... Is everyone out now or still in?
News today... Is everyone out now or still in?
Gateway, I'm still in. I was in at .32, sold 1/3 my positon at .97 (what an exit!). Added back at .70 (not a great entry). Despite the decline, I still have a bullish feeling. These penny stocks usually don't make just one strong run. I think she's got a run to $1.50 in her before the end of winter. I've seen other penny stocks with similar setups, where they make a big run that gets everyone excited followed by a steep retrace that scares out a lot of shareholders, and just when you are feeling maximum pain it reverses and runs like a rabbit. I hope that's what happens here.
:o ???
I think we've seen the bottom. I like what I saw Friday. The patient has a pulse.
Time to buy again..A good entry
technicals :
good retracement > 0.80
Bullish Engulfing Pattern
Volume > EMA60
0.34-0.36 -> a good support...
closedat the 50dma and has news. support here lets go
Man what a stinker this stock has become. Anyone else bleeding profusely out of every orifice on this one or is it only me? ??? Closed at 29 cents today.
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.
Looking like a decent entry for a trade.
Anyone else?
May be waiting for the new year. (?)
Jody 8)
oh yea...chart:
I am going to take a SMALL position in this today. Chart has all but bottomed to me. Also I am seeing it on a few of the boards we shouldn't speak of on here ;). That should generate enough volume to get shorts/MM's forced in our direction! >:D
Hello !
UPDA - 9 days go downwards ???
sick pps today... maybe buying back in below .10
UPDA closed at a 52-week low for the past 6 days in a row.
RSI crossed 30 down, AND all 3 stochastic indicator are crossing and turning around... or doing what I like to call
"Tire's 3on20" ;D ;)
The company has had good PR in December: (in ascending date order)
QuoteCanyon Creek Preparing To Initiate Oil And Gas Production At Archer County Regular Field
Monday December 12, 8:52 am ET
Three Fields To Be Generating Oil And Gas By End Of Week - Four By End Of Month
QuoteCanyon Creek Reports Initial Production From Archer County Leases Exceed Forecasts - Sales From Additional Wells To Commence This Week
Monday December 19, 9:45 am ET
QuoteCanyon Creek Oil Production Approaches 1000 Barrels - Results Exceed Expectations in Archer County Regular Field
Tuesday December 27, 10:07 am ET
QuoteCrude Oil Production From Single Canyon Creek Well Increases to 1000 Barrels -- Results From Well Revitalization Program Continue to Exceed Expectations
Thursday December 29, 8:55 am ET
Note: Canyon Creek Oil & Gas Inc. is a joint venture of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) and USProduction & Exploration, LLC. (USPX)
I think it is just a matter time before this guy turns arround.
Canyon Creek Oil & Gas, Inc. Encounters High Pressure Gas in Inez Field, Victoria County, Texas -- Changes Over to Heavy Mud to Sidetrack #1 Roberts Unit Well
Business Wire - January 04, 2006 08:05
HOUSTON, Jan 04, 2006 (BUSINESS WIRE) -- 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) has changed over to a heavy oil-based mud to keep high pressure gas from entering the #1 Roberts Gas Well, located in the Inez Gas Field, Victoria County, Texas. Canyon Creek encountered high gas pressure immediately after the work-over operation began on December 23, 2005.
"Although this high gas pressure makes the job somewhat more difficult, it is a very promising indication of the production we can expect from this well," said Don Orr, Canyon Creek President. "We estimate that the gas pressure is as high or higher today than it was when the well was first completed."
The #1 Roberts Unit was completed in February 1990 in the Yegua sand "B" stringer at 8498 to 8510 feet. Completion forms filed with the Railroad Commission of Texas at that time indicated the well was flowing 2,668 mcfgpd on an 8/64" choke with 4,727 psi flowing tubing pressure. The well was then re-completed in the Yegua "C" stringer at 8530-34 feet. The Yegua "C" stringer produced 593,000 mcfg and 16,000 barrels of condensate prior to another casing collapse.
Once the oil-based mud was circulating properly in the well and the gas influx under control, Canyon Creek removed the 2-3/8" tubing from the well. Canyon Creek purchased high grade 2-7/8" tubing to complete the well. The Company contracted with Smith International to set the whipstock at 7,193' and milling tools were used to cut a window in the 5" casing. Sidetrack operations are currently underway below 7,200' and will continue until the Yegua Sands are encountered at 8,500'.
"With this pressure and the better, larger tubing, we project production in excess of that previously reported," continued Orr. "This well will be one of Canyon Creek's top natural gas producers."
An in-house study estimates the reserves remaining total 4.3 billion cubic feet of gas and 105,000 barrels of condensate. To date, UPDA has invested in excess of $1.2 million in Canyon Creek and, upon completion, will have invested more than $700,000.00 in this single well.
About UPDA
anyone else alive in this thing?
i picked some up today on a hunch they are covering some shorts
i heard these guys could be pulling 5mill a month
LOL.. That was the company guidance last fall...Something wrong with this diluting pig...JMHO
Still Absolutely no support below right now...be carefull
how did you make out gatewaystocks? you seem awefully bitter
so, did you sell out of all your position?
Finally a positive technical day with a bullish hammer formed (or would it be a morning star doji). UPDA hasn't seen this much volume since it was trading up near the dollar mark.
Not bitter, but yes am out since around .62... would like to see it work out and find some stable bottom before even thinking of getting back in..company guidance was not what they led on to be... I want to see the next two filings...those will tell the story and possible run into next fall and winter but only if the company stays clean...GLTY ;)
Also projections like "project the subsidiaries will generate gross revenues approaching or exceeding $5 million per month by the end of the 4th Quarter of 2005" & "1 million/month cash flow by EOY type stuff drove people away when it didn't happen."
Also there was a group that came in and played it up to its highs, but they are long gone...GL
Quote from: doyerdiligence on January 04, 2006, 02:06:21 PM
how did you make out gatewaystocks? you seem awefully bitter
so, did you sell out of all your position?
seeing as they are not done bringing liquitidty to this market yet, i doubt they are 'long' gone. but at least some of the shorts have covered ;)
Looks like UPDA is moving!!!!
:o
:o
I got a partial fill this morning at 16.9. Nice up day. I hope it can do better than that descending trendline, which is at ~24.
I flipped it and kept some free shares, looking to add more to my position next week. not sure if i shoulda held it all or not, I'll know monday :)
surely it will set higher highs on monday
time to party for the weekend!
UPDA had a nice run up to $22 last January from $1.30... Anyone thinks history could repeat itself??
The move to $22 last year was on volume of maybe 10k shares per day. Something fishy about that. I suspect it didn't really happen that way. I'd be happy with a couple more up days next week and then cash out. There are too many bagholders who got in at higher levels for this stock to run back to a buck IMO.
Press Release Source: Universal Property Development & Acquisition Corp.
Universal Property Development & Acquisition Target Report Issued By Investrend Research Analyst Daniel Capo, CFA
Monday January 9, 8:28 am ET
NEW YORK--(BUSINESS WIRE)--Jan. 9, 2006--(Investrend Research Syndicate) Universal Property Development & Acquisition Corp. (OTCBB: UPDA - News) is a holding company for several joint venture subsidiaries engaged in oil & gas exploration and production, concentrated on the acquisition and development of proven oil and natural gas reserves and other energy opportunities, according to Investrend Research analyst Daniel Capo, CFA.
ADVERTISEMENT
The largest asset on Universal's balance sheet is 1,000,000 shares of convertible preferred B stock of SiteWorks Building & Development Company (OTCBB: SWKJ - News).
The analyst added:
The company currently is involved in three joint ventures: Canyon Creek Oil & Gas Inc., West Oil & Gas Inc., and Winrock Energy Inc. (Domes Unit).
Unlike several micro cap E&P start ups, Universal Property is not a wildcat player. The company is focused on acquiring proven properties with deep production histories.
Universal's subsidiaries have started selling oil and gas which should directly improve the company's financial statements.
Production estimates based upon historical and partial production total millions of dollars per year in revenues.
The company has teamed up with well established partners.
Due to supply worries and energy market volatility, revitalization projects on mature US reserves should remain profitable as crude oil and wellhead natural gas prices are expected to remain above historical levels.
The company reported just over $10,000 in cash as of 9/30/2005, and has reported that $2 million dollars are required to execute its 2006 business plan. Cash flow from operations is projected to be insufficient to support expenditures; the company most likely will issue stock to raise funds.
Dilution is the key risk factor. As of November 1, 2005, UPDA had 23,774,986 shares outstanding. Based on the trading activity since November, we believe this number may be higher, though we could not get confirmation.
An InvestorPower(TM) page has been created regarding the company at http://www.investrend.com/company/list.asp?sPathParam=yes.
Investrend Research has been the leading independent equity research publishing and distribution program since 1996, with over 75 qualified professional analysts posting more than 1,000 reports to date. Anyone may enroll a company in the Investrend platforms. Enrollment fees for the Target research platform are $5,780, which was paid by Morgan Merchants, a third party. Analysts are paid in advance for their initial reports by Investrend Research to limit or eliminate pecuniary interests, and no one associated with the program may own or trade in the equities of companies under coverage.
The company has also been enrolled in the shareholder-monitoring program by the Shareholders Research Alliance (http://www.shareholdersresearch.com), established to eliminate conflict and bias, and Investrend subscribes to the exacting "Standards for Independent Research Providers" at http://www.firstresearchconsortium.com
Anyone interested in receiving alerts regarding Universal Property research or webcasts should e-mail
[email protected] with "UPDA" in the subject line, or click on http://www.investrend.com/contact.asp.
Contact:
the full report can be found at http://financialwire.net/Admin/Topics/Articles/Resources/137_1136763861.doc
looks like shakers & movers goup play from last week is fizzeling out! >:D
UPDA Clarifies Identification and Valuation of Assets - Details Inconsistencies of Analyst's Report
By BusinessWire
Last Update: 1/9/2006 2:05:01 PM Data provided by
JUNO BEACH, Fla., Jan 09, 2006 (BUSINESS WIRE) -- Universal Property Development and Acquisition Corporation (UPDA) has reviewed the independent analyst's report prepared for Investrend and has determined that, although it is substantially accurate, it contains a remarkably significant inconsistency relative to the identification and valuation of UPDA's assets.
As accurately indicated in the report, UPDA and its subsidiaries own oil and natural gas assets in Texas, Utah and Oklahoma with proven reserves valued in excess of $1 Billion as determined by independent certified petroleum engineers. The report continues, however, to provide that: "The largest asset on UPDA's balance sheet is 1,000,000 shares of convertible preferred B stock of SiteWorks Building & Development Company (SWKJ). The company values this position at $1,000,000."
This statement fails to reflect the value of UPDA's oil and gas reserves nor does it account for UPDA's cash investment now approaching $1.5 million in Canyon Creek Oil and Gas, Inc., its Texas subsidiary, or the contribution of hard assets valued at $600,000.00 by USPX, its joint venture partner in Canyon Creek. In fact, the statement is contradicted by the balance of the Investrend report and is provided without context or foundation.
Overall, UPDA is pleased with the content of this independent analyst's report and adopts the preponderance of its assertions. But for the misleading representation concerning the identity and value of UPDA's assets, the report accurately concludes that "Universal Property has accumulated an impressive group of mature US properties with strong production histories." The report also accurately itemizes that:
-- Unlike several micro cap E&P start ups, Universal Property is not a wildcat player. The company is focused on acquiring proven properties with deep production histories. This strategy removes many of the risks associated with other peer companies, and should translate into immediate operational cash flow.
-- Universal's subsidiaries have started selling oil and gas which should directly improve the company's financial statements
-- Production estimates based upon historical and partial production total millions of dollars per year in revenues.
-- The company has teamed up with well established partners such as The Masaood Group, Ltd., Lion Partners Hedge Fund, Optech Limited, and Nice Capital Limited of Admiralty. These partners reach international investors that can provide the financial support necessary to execute Universal's business plan.
About UPDA
shakerz group is a joke anyways, he is on ADD and picks 20 plays a day regardless
in more serious matters, someone bought 600k of this today
you can see in the 8-k here tinyurl.com/dqf8l
:o ???
mms bouncing around shares. This thing would explode with some actual buys coming in. I loaded up at .15 yesterday hoping for a good bottom play. I will give it until end of week to do something.
This thing is bubbling. I have a funny feeling some positive press will be being released soon. Interesting L2 activity.
Those in already get ready for a bagger or two today/tomorrow. If not already in I wouldn't touch this thing. IMHO
Canyon Creek Reaches Total Depth At #1 Roberts Unit - Production And Surface Equipment To Be Delivered And Installed
Business Wire - January 12, 2006 12:10
HOUSTON, Jan 12, 2006 (BUSINESS WIRE) -- Canyon Creek Oil and Gas, Inc., a joint venture of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) and USProduction and Exploration, LLC. (USPX) reached total depth at its #1 Roberts Unit natural gas well located in the Inez Field, Victoria County, Texas, Tuesday afternoon. Canyon Creek is now setting production pipe to total depth and will commence cementing operations today using BJ Services Company (NYSE:BJS) of Houston, Texas.
Once the pipe is set and the cement has cured, Canyon Creek will perforate the over-pressured Yegua B sand at 8500 feet on Saturday. With additional investment from UPDA, production and surface equipment will be delivered and installed on Monday and the well will be readied for production.
"Even though the cost of the gamma-ray/mwd directional tools and professional services reached $16,000 per day while we were drilling, we are extremely pleased with the outcome," said Donald W. Orr, President of Canyon Creek. "The directional drillers of Gardes Energy Services, Inc. (www.gardesenergy.com) were able to steer the drilling and logging tools within seven feet of the projected bottom-hole location."
Gamma-ray log interpretation provided by Scientific Drilling (www.scientificdrilling.com), a Houston-based international logging company, confirmed the existence of the high pressure Yegua sand at the projected location and mud loggers confirmed the existence of the productive Yegua sand.
"With these logs and the estimated bottom hole pressure of 5000 psi, this well appears to have met all of our expectations," continued Orr. "In addition, with the Duke Energy (NYSE:DUK) sales line only 50 feet from our well head, we will not even need a compressor to put this well on line."
Representatives of UPDA were equally excited by the outcome of this effort. "We have now invested over $1.5 million in this asset," said Chris McCauley, UPDA Vice President. "The success of this project firmly establishes our place in the oil and gas business. With the proven reserves in excess of $1 billion that have been independently certified in the prospects we are working on, our unrelated stock holdings certainly can no longer be called our major asset. I would say the shareholders can look forward to UPDA making oil and natural gas for many years to come.
"The management and board of UPDA will remain focused on our core business and will continue its work to build shareholder value. We have no intention of being diverted from our goals by yellow journalism or tabloid-like news."
I'm new to trading penny stocks, but this seems like a good gamble? There seems to be a setup for more news next week concerning progress in setting up the Victoria well.
Also, maybe stock has found some support at 0.15? Any advice appreciated. I bought just a few thousand but may be worth a bit more?
I knew this was coming ;) I think I have a system for following the mm's around. Anyways I expect support at .18 and possible flat trading until Mon/Tues when they pump out some more positive PR about the equipment delivery/installation. Once again take all I say with a grain of salt. TA and pennies do not go hand in hand.
No problem and I certainly agree about TA. Could fall to 10 cents like that ;)
Thanks for the updates though. I live in Texas and saw the news on streamer--helps to know I have company for opinion on when to exit.
I think I'll just gamble and see what happens next week--probably not much but never know!
I was just playing around with the chart of UPDA and... am I dreaming or this stock really made runs a little bellow $5,000 (??!?!? :o :o) back in 1999? What is that all about?
Looks like a few fresh mm's are lining up on the buy side in the pregame. Mon or Tues news must be looking positive.
??? :o
one hell of a wall lined up @ .17 I would love to see that shattered today ;)
EDIT: I meant the other way >:D
livana what you are refering to in the stockprice is probably do to their past company history
they probably reverse split a few times before in the past, maybe under a few different trading symbols before it came under the management of UPDA
reverse spliting more than once of the stock can make the past history on the chart look very strange ;/
My (gambling) plan was to hold for news next week but only if price holds 0.15. That's not looking likely at the moment. Just one more selling push and I guess I'm out already :-\
Honestly I would wait... it is now pushing my entry point too. I really think the mm's are trying to shake out as many shares as possible. They might be playing the oil price game but we all know 90% of pennies are not TA trades. I think the news next week will at least break this thing to .25. Low float and market makers don't mix well. OTC/Pink is one notch above organized crime
I had hoped seller would lift pressure but doesn't seem to be the case.
Anyway, holding 15 so far although I'm not optimisitc--should be more buying interest if great news on the way next week don't you think?
But I'll take your advice to heart, turn off machine, and sell next week if price dips much below 15.
Good luck to us!
thanks Doyer - that would make sense... my greed inside got all excited though >:D lol
Well I don't think many OTC buyers out there preload before news. The ones buying on news will be eating my shares ;) and can hang there head at the sea of red ahead.
Some news and volume and this thing is off to the races. Anyone else holding? In @ .15
Holding is a gamble that they'll be news to move it--a decent gamble I think for this week.
But watching LVII this morning, seems to be a big seller out there happy to continuously hit the bid.
News out.... I just dumped out. Not as exciting as I had hoped. I think this thing is solid though. Might be back in the very near future.
;D
I am looking for a re-enrty @.165-.17. I think the oilg rigs going live is going to shoot this to the moon. With pennies though If I can cash out +20% and get back in I will take it. If not onto the next. GLTA holding. I don't think you will need it though.
;D
Wish I had held. It's at 20 now, high of 21. Could run to 60-80 but I think I'll just watch--didn't like the fluff news PR a couple of days ago.
Same boat as you. Walking away green is always better then red at least. I should have held half of my position though. Oh well what are you going to do.
Canyon Creek's Archer County Oil Production Exceeds Projections Exponentially With Each New Well -- Four Additional Wells to Be Producing by End of Week
Business Wire - January 19, 2006 09:09
HOUSTON, Jan 19, 2006 (BUSINESS WIRE) -- Canyon Creek Oil and Gas, Inc., a joint venture of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) and USProduction and Exploration, LLC. (USPX), has increased its oil production to 2000 bopm in Archer County Regular Field as three new wells in the field are turned to sales. Canyon Creek now has four wells producing in the field and anticipates another four wells producing by the end of this week. Canyon Creek will continue to monitor the three new wells, the #1 Jones-Ford, #6 East Vogtsberger and #14 West Vogtsberger, for additional increases in oil production. The Archer County Field represents 1 of the 7 oil and natural gas fields owned by Canyon Creek.
Since they were initially brought on-line in late December 2005, the Archer County leases have gradually increased their production to 2000 bopm from 450 bopm.
"We are excited about the continued success in Archer County because the leases are exceeding our projections exponentially with each new well," said Donald Orr, President of Canyon Creek. "The oil production from these four wells exceeds the 10-year production average of all the wells combined. The Archer County leases previously produced at an average rate of 25.3 bopd from 9 wells over the past 10 years and they are exceeding that by a factor 2.5 with only four wells in production. As more new wells are turned to sales, we are confident that the daily oil rate will continue its dramatic increase."
Canyon Creek has also unexpectedly found considerable gas pressure on the casing annulus.
"We are negotiating with a pipeline company to purchase the casinghead gas that is currently shut-in," reported Mr. Orr. "We were caught by surprise by the amount of casinghead gas available at each well since the 10-year production average indicates no prior casinghead gas sales."
"In addition to all this good news about the increase in oil production from the presently perforated pay zones, the Company has learned that a Canyon sand at 2,000 feet also appears oil productive on the West Vogtsberger lease," continued Canyon Creek's Orr. "As discussed at our Board meeting, we are now finalizing our geology and will report to UPDA about a plan to drill for this new oil."
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
QuoteCould run to 60-80 but I think I'll just watch
:o If you think it could be a 3-4 bagger you should throw a little play money at it! I'd be very happy with 40 cents.
If it can close above 20-day MA I'll buy it.
The 50 day and the top Bollinger band are at 0.30 so at least we will see that...will see how much the volume pick up is
(http://xs64.xs.to/pics/06035/upda19.jpg)
What a great breakout on UPDA! I was seeing some posts regarding '.22 wall is unpassable' etc, I knew it's time had come and no sooner than that same day, it popped. ;D
Canyon Creek Completes Project in South Markley Field in Young County, Texas -- Another Oil and Gas Well to Be Turned to Production
Business Wire - January 23, 2006 07:47
HOUSTON, Jan 23, 2006 (BUSINESS WIRE) -- 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) has completed its revitalization efforts in the South Markley Field in Young County, Texas and today its #2 Prideaux well will be brought on line.
The #2 Prideaux was completed in February 1982 flowing 300 mcfgpd from the Marble Falls formation at 4,798'. The Marble Falls formation is a prolific oil and gas producer in the state and in the immediate area. It is estimated the reserves remaining total 548,000 mcfg.
Canyon Creek has equipped the #2 Prideaux with a Quincy 270 vacuum pump compressor and the Company is waiting for the gas purchaser to modify its metering system so it can deliver additional gas to the pipeline. Canyon Creek expects the gas production will increase significantly once the Quincy pump is turned on today.
Sunoco will purchase the oil from the #2 Prideaux, and Targa Midstream Services, Ltd., who bought Dynegy Midstream Services, is the named purchaser for the natural gas. Once Targa Midstream modifies its metering site today, Canyon Creek will turn on the Quincy pump to move the casing head gas to the pipeline. The Company will monitor and report daily oil and gas sales to UPDA who provided the funds for the project.
The #2 Prideaux is located in the South Markley Field about 12 miles north of Graham, Texas. With the completion of this project, Canyon Creek now has wells producing in 3 fields with additional wells to be brought on line within days
Nice day for UPDA +55% on record volume. Wonder if it will continue tomorrow. I added to my positon at 16.9 a few weeks back the day it rallied above 20, but then bailed the next day when it gave back all its gains. Too bad, that would have been nice, but those were dark times for this stock. Breakeven price on the shares I currently hold is just under 42 cents. Who's still in this with me? GO UPDA!!
Don't feel bad... I am hating myself for dumping my shares bought @ .15. I think I sold them off at .168 and .17 or so. Anything with that strong of a close will at least move up a bit tomorrow morning. I would be fearful of mass profit taking though. I sure as hell would be cashing out tomorrow if still in ;)
I sold all shares at the open 42.7. Gapped up just over my breakeven price so I took the gift. Overall I ended up doing well on UPDA in that I sold 1/3 of my shares at .97 a few months back for a 3-bagger on those shares. And the other 2/3 were breakeven.
I got in today... I little risky for me as the stock has gone up so much in the past 2 weeks. Well, I'm not disapointed, UPDA went up another 28% today, and I'm up 11% ;D
So the question is: how much more can this stock go up in the next day or so? Is it already pushing the overbought... RSI just touched 70 today.
Any comments/thoughts?
Quote from: Livana on January 25, 2006, 04:05:04 PM
So the question is: how much more can this stock go up in the next day or so? Is it already pushing the overbought... RSI just touched 70 today.
?quote]
TA is useless imo when superb news is on the way by the end of the week as mentioned in their last PR.
cheers
Thanks stock-kitty... I will sure be watching closely tomorrow and Friday
Quotehow much more can this stock go up in the next day or so
That's the million dollar question for a lot of investments! (stocks, oil, real estate...) I thought today might be the top so I sold at the open - 42.7. Dang, 47.2 woulda been nicer. With parabolic penny stocks I always take some profits at the 3-bagger mark (if my entry was near a swing low or when the stock was basing). I find the 4-bagger to be elusive, my personal Moby Dick. When I look at UPDA, it found its bottom earlier this month in the 14-15 cent range. A 3-bagger from there is 42-45 cents. This factored into my reasoning for selling this morning. While it wasn't a 3-bagger for me, it was a 3-bagger from the recent low where there was quite a bit of accumulation. What I'm saying is I think it's near the top. Then again, this is pennyland and anything can happen ::)
haha it sure can~!!!
i only have a small amount of free shares left but since they are free i'll hold them to see if they break 1dollar new highs
haha doubt it but ya know- just sayinging i don't try to swing it anymore, i'll just ride it till the wheels fall off- maybe 1 year and 15% tax ;>
Worth holding imo...
has momo.....
reading the 3Q report, they lost 1.5mill last quarter and over 7mill for the year ending sept. 30...but the press releases i've been reading, of the acquisitions, they seem to be producing a lot of oil...this being said, does everyone think that they'll be cutting their losses by a lot in 4Q? at this rate, how long before a profit...from the looks of it, they're still paying on a 25mill debt from the previous company Procore. If the production keeps up, it shouldn't be long before their making money. obviously the market likes the news that they keep giving.
I've been watching UPDA for a month or so, and didn't have cash in the account to buy when it started up, i'd like to get in, after the sell off...which i'm sure is coming.
This run is showing signs of exhaustion. This morning when it sold off I though we'd seen the top at the open, then it rallied up near .60 and it looked like it still had a full head of steam behind it. Late day selloff back to .50 has me thinking we've seen the top again. I reserve the right to change my opinion three more times tomorrow!
When is the next entry...I still hold a bit (free shares)
laterz...Jody
What is UPDA doing???
I got in a little bit late at 0.427... it had a nice run to 0.55, but then, down down and more down... Is this trend going to reverse itself?
hey Livana - the price you bought (.427) is the exact price at which I sold. You literally bought my shares! I am guessing we'll see a white candle tomorrow. Chart is set up that way with 3 red candles and the lower volume today. How many days a reversal would last is questionable. When it was falling from .55 to .15 in Nov and Dec, the reversals would last a day or two and then the stock would go lower. I may take a position in UPDA tomorrow for a short swing trade.
Well, UPDA is already down 4.5% this morning... I knew I was getting in too late. I'm really hoping for that white candle today Lucas Scott... :-[
just happened to look at the UPDA streamer...making a nice little run...tried to jump on, but i couldn't free up my money...
I'm thinking about getting in? Any advice?
I had bought at 18, sold at 20 and missed run to 65. Arghhh!
But with this constant stream of news, seems like a good opportunity is the 30s? The number of shares has doubled over past 45 days (to 55 mil) but there's been no dilution during past week or so.
Opinions? I know risky, but could run with continued good news and inevitable focus on oil?
Quote from: Livana on February 01, 2006, 09:44:04 AM
I'm really hoping for that white candle today Lucas Scott... :-[
Looks like you got it! Today's move was a fairly common one after 3 down days. The stock goes lower in the first half hour or so of trading, then reverses and makes a white candle. That's where the good news may end for you Livana. See chart below. Good luck to you!
Nice big white candle.. ;D Your prediction was correct Lucas Scott. UPDA is up 25%.
I know that looking at previous patterns, it is most likely going to come down from there. I will keep a close eye on tomorrow and might sell...
I was just catching up on my UPDA news...i think this stock still has upward potential, esp. if they keep the production level up of everthing they keep buying up...any other thoughts?
Universal Property Development and Acquisition Corporation (OTCBB: UPDA - http://finance.yahoo.com/q?s=UPDA.OB ) Canyon Creek Oil and Gas, Inc., a joint venture of Universal Property Development and Acquisition Corporation and US Production and Exploration, LLC. (USPX), has increased its oil production by an additional 600 barrels of oil per month as six new wells in it Archer County Regular Field are turned to sales. Four of the six new wells are classified as pumping wells and the other 2 wells are flowing 100% oil through the casing. The 5 wells originally producing in Archer County continue generating 2000 barrels of oil per month.
Canyon Creek will continue to monitor the five original and the six new wells for additional increases in oil production. It is expected that the 4 pumping wells will add more oil once the water is pumped off. The Archer County Field represents 1 of the 7 oil and natural gas fields owned by Canyon Creek.
As previously reported, Canyon Creek has also unexpectedly found considerable gas pressure on the casing annulus of these wells. The Company is making plans to lay a gathering system to each well and deliver the gas to the purchaser. The management is in communication with the gas purchaser to connect the wells to a sales pipeline.
Canyon Creek also reports today that the #2 Prideaux located in South Markley Field, in Young County, Texas, is now making 3,780 mcfg/m and 45 bo/m. The #2 Prideaux was making 90 mcfg/m and no oil when Canyon Creek purchased the lease and the well. Following a work-over that include lowering rods and a down-hole pump in the well, moving in and connecting a 114 pump jack, and setting a compressor vacuum pump to move additional gas to the pipeline, the Company has increased the production revenue 4,200 percent.
Work on Canyon Creek's 17 wells in Coleman County, Texas and its 27 wells in Palo Pinto County, Texas is also proceeding as scheduled. "We will continue to bring more wells on-line and continue to increase revenues in the days and weeks ahead," reports Donald Orr, President of Canyon Creek. "We have these 44 wells that are currently in the process of workover as well as the major gas well in Victoria County, Texas that we are working to complete and produce."
What are the news on UPDA?
I am still holding... yeah, not a great idea I had there! pps is 0.355 as I write this, down 4% from this morning opening.
Any chance it will go back up soon?
Even that news yesterday did not seem to do much for it:
Canyon Creek Completes Additional Well at Hagler Capps Lime Unit in Coleman County, Texas -- UPDA to Report Production Through Its Updated Website
Monday February 6, 7:59 am ET
HOUSTON--(BUSINESS WIRE)--Feb. 6, 2006--Canyon Creek Oil & Gas Inc. has completed its workover and is preparing to turn to sales the #3 Hagler Capps Lime Unit well located in the Hagler Capps Lime Field in Coleman County, Texas, as the Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) subsidiary continues its program to revitalize the oil and gas wells located on its leases in Texas.
i don't currently hold a position on UPDA, but I'm waiting for a bottom....which could come soon. they're still acquiring wells and finding oil where others can't...I think this company still has potential. (plus, if they dont' find oil, they'll pump for whatever they can find, ei; gas)
HOUSTON, Feb 06, 2006 (BUSINESS WIRE) -- Canyon Creek Oil & Gas Inc. has completed its workover and is preparing to turn to sales the #3 Hagler Capps Lime Unit well located in the Hagler Capps Lime Field in Coleman County, Texas, as the Universal Property Development and Acquisition Corporation (UPDA) subsidiary continues its program to revitalize the oil and gas wells located on its leases in Texas.
The Hagler Capps Lime Field is comprised of 2 leases and 17 wells. Canyon Creek is currently producing 3 wells on the East Hagler lease and 1 well on the Hagler Capps Lime lease. The produced fluids will be pumped to a field separator and the oil will be delivered to the stock tank for sale.
Canyon Creek has already received a permit and will begin to inject produced water into the oil sand at the number 1-B East Hagler well to increase production on the east side of the field. The Company has successfully tested the 1-B Hagler for water injection and the Company has scheduled a meeting with the Railroad Commission of Texas field supervisor who will confirm the results. Field salt water captured from the field separating units will be piped to the 1-B Storage facility for injection.
Once water is injected into the number 1-B Hagler well, production should increase to 1,000 bo/m and 3,000 mcfg/m within 90 days.
As previously reported, Continental Oil Company, predecessor to ConocoPhillips, discovered the Hagler Capps Lime Field in 1954 and the field has a cumulative production of over 1,140,000 barrels of oil. The oil produced from the Capps lime formation is found between 1,900 and 2,000 feet below the surface. Continental successfully initiated water flood procedures on the west side of the field to enhance oil recovery soon after the field was discovered but water flood procedures were never utilized on the east side of the field where 3 wells still produce oil free of water.
The production from this field, as well as the production from all of its properties, will be reported by UPDA as it continues to improve and enhance its website at www.universalpropertydevelopment.com.
Press Release
Source: Universal Property Development and Acquisition Corporation
West Oil & Gas, Inc. Reviewing First Well Recompletion Proposal In Utah
Thursday February 9, 10:01 am ET
SALT LAKE CITY--(BUSINESS WIRE)--Feb. 9, 2006--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) subsidiary, West Oil & Gas, Inc., has entered into negotiations with Homeland Gas and Oil, Inc. of Roosevelt, Utah for a well recompletion venture which is slated to be undertaken in Uintah County, Utah.
This project will be similar to other successful efforts in the same township and will include running new casing, well site refurbishment, logging, frac type stimulation and setting of a new Rotoflex Pumping Unit on the well known as the Ute 1-16 A1E.
Homeland Gas and Oil, Inc. (HGO) has numerous opportunities for both recompletions and step out drilling in the Bluebell/Altamont area. Homeland's "Stock in Trade" is solid prospective properties that have been under utilized. As prices for oil and gas have continued to rise, these properties have become more and more attractive and desirable. As indicated by Bob Ballou, Homeland Geologist, "this is an outstanding prospect with tremendous upside potential."
A mutually acceptable agreement for the venture will be entered into by all of the participants, including HGO and Landmark 4 LLC. An Area of Mutual Interest (AMI) will be established and the venture will be managed and operated by HGO.
Once the agreement is signed by all of the participants, the project will be funded for the estimated total cost amount of $863,310.00 and the funds put in escrow. HGO will draw on AFE funds for actual costs associated with the project. HGO management duties will include the following:
* Preparation of a detailed chronological prognosis and task list.
* Preparation of all sundry notices and notification to all State, Tribal and Federal entities.
* Coordination of and preparation for the actual work being preformed.
* Setting up a COPAS approved accounting system for the project as determined by the operating agreement, and determining a mutually agreed to notification system to inform all partners of every facet of the daily work, subsequent production and day to day LOE costs.
Baring any unforeseen weather problems, following the signing of the agreement preparations for the project should conclude within three weeks time. Actual time from start of workover to establishing production is anticipated to be 3-4 weeks in duration.
Press Release Source: Canyon Creek Oil & Gas Inc.
Canyon Creek Announces Increased Oil Production at Its Hagler Leases in Coleman County, Texas -- Progress Continues on Inez Field in Victoria County, Texas
Monday February 27, 9:29 am ET
HOUSTON--(BUSINESS WIRE)--Feb. 27, 2006--Canyon Creek Oil & Gas Inc. (A Joint Venture of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) and USProduction & Exploration, LLC, a privately held Company) has dramatically increased the oil production from its Hagler Capps Lime Field in Coleman County, Texas.
The company had previously reported the lease was producing 250 bopm from 4 wells. Recently the Company treated 5 wells, including the 4 in production, with hot oil and chemicals. As a result of this treatment, the production has increased to 750 bopm.
Work on the Hagler Leases continues with 2 additional wells ready to turn to sales. Inclement weather prevented the wells from being turned to sales last week but the Company expects the two wells will come on line by Tuesday, bringing the number of wells in production to 7. The Hagler Capps Lime Field is comprised of 2 leases totaling 915 acres and 16 wells.
Progress is also continuing on Canyon Creek's #1 Nelson Roberts Unit in Inez Field, located in Victoria County, Texas. The Company had perforated the Yegua "B" zone and encountered gas pressure exceeding 2000 psi at the surface. After flow testing the well, sand, concrete residue and perforating gun remnants formed a bridge over the perforations. The company moved in a work-over rig to remove the bridge with tubing and mills. The Company has been successful in removing 90% of the bridge and expectations for this well remain high despite this unforeseen delay. The work over rig remains on site, and work will continue until the well is ready for production.
The production from this well, as well as the production from all of its properties, will be reported by UPDA as it continues to update its website at www.universalpropertydevelopment.com
Has anyone got something new about UPDA?
I have been holding since 1/25; down 40%. I don't see the stock doing much. At that point, I'm ready to take my losses and sell.. any reason I shouldn't?
upda starting to look interesting again.Anyone else watching? i'm not sure how long the downtrend will continue. i'll be watching signs for another bottom, then maybe try to get another position going. first test will be around .15 range- if we don't hold this .18-.19 here.
I'm still watching. Nibbled a bit at $0.21
Recent news:
http://biz.yahoo.com/bw/060313/20060313005561.html?.v=1
UPDA Establishes New Subsidiary - Texas Energy, Inc. - Completes Lease Assignment - Commences Work Over Operations in Young County, Texas
GRAHAM, Texas--(BUSINESS WIRE)--March 13, 2006--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) has established Texas Energy, Inc., a Nevada corporation, to formalize its new joint venture with Sundial Resources, Inc. of Graham, Texas. UPDA will control 75% of this new subsidiary.
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Sundial has finalized the assignment of a total of 5 leases to Texas Energy and phase one of its plan to work-over 7 wells located on its 480 acre Thresher-Medlin leasehold in Young County, Texas has been initiated.
Texas Energy has mobilized a roustabout crew to survey the properties prior to moving in a work over rig owned by Sundial. The roustabout crew will first utilize road building equipment to make ready the roads for the heavy oil field equipment.
In the first phase of the project, Texas Energy will pull the tubing from 3 of the wells and replace it with tubing drifted and tested to 5000 pounds. In addition, new flow-lines will be installed and the pumping units replaced. These wells, to be produced at depths of 2200'-3800', have been shut in since 2001.
Texas Energy continues to produce the single 3200' well on its Nantz lease and this week will replace the separator in order to increase pumping time and oil and gas production.
In addition, three of the nine 1000'-1100' wells on the Texas Energy Wiechman field will begin production this week.
"We continue to pursue aggressive strategies to build shareholder value," said Chris McCauley, UPDA Vice President. "This latest joint venture, consistent with our business model, will utilize funds provided by UPDA in order to commence or increase production from proven properties. Texas Energy has the additional advantage of lower cost as a result of the equipment and expertise brought to the deal by Sundial. We are confident these investments will generate justifying revenues."
The production from these wells will be reported by UPDA as it continues to update its website at: www.universalpropertydevelopment.com.
------------------------
I'll post today's news in the next post...
Form 8-K for UNIVERSAL PROPERTY DEVELOPMENT & ACQUISITION CORP
http://biz.yahoo.com/e/060314/upda.ob8-k.html
14-Mar-2006
Entry into Material Agreement
Item 1.01 Entry into a Material Agreement
On March 7, 2006, Universal Property Development and Acquisition Corporation (the "Registrant"), a Nevada corporation, Ty McDermett and Andrew McDermett, Jr. (collectively the "McDermetts") and Sundial Resources, Inc. ("SRI"), a private Texas corporation, entered into a Memorandum of Understanding (the "MOU") pursuant to which they agreed to the terms for the formation and operation of a joint venture. The McDermetts are the principals of SRI. Pursuant to the terms of the MOU, on March 9, 2006, the Registrant, the McDermetts and SRI formed Texas Energy, Inc. ("Texas Energy"), a Nevada corporation, as the joint venture entity to carry out the proposed operations of the joint venture. The Registrant owns seventy-five (75) percent of the capital stock of Texas Energy and the McDermetts collectively own twenty-five (25) percent of the capital stock of Texas Energy.
Under the terms of the MOU, and as consideration for their respective shares of the capital stock of Texas Energy, the Registrant has agreed to provide a minimum of four hundred thousand ($400,000) dollars to Texas Energy to finance the operations of the joint venture and the McDermetts and SRI have assigned five (5) oil and gas leases (the "Leases") to Texas Energy. The Leases were assigned to Texas Energy by the McDermetts and SRI on March 9, 2006 and they cover approximately three hundred and twenty acres in the oil and gas fields known as Thresher, Medlen, Nantz and Wechman, in Young County, Texas, and the wells and equipment thereon. Each of the Leases provides Texas Energy with a one hundred percent (100%) working interest, which is an eighty percent (80%) net revenue interest, in the property covered by such Leases. As additional consideration for the McDermetts and SRI to enter into the joint venture and to assign the above Leases thereto, the Registrant has agreed to pay one hundred thousand dollars ($100,000) directly to SRI.
Under the terms of the MOU, Texas Energy will have a three-member board of directors, of which two members will be chosen by the Registrant and one member will be chosen by SRI. Further, under the MOU, any additional funding required by Texas Energy for its operations will be provided by the Registrant and the McDermetts or SRI on a pro-rata basis based on their percentage ownership of Texas Energy's capital stock. SRI will be responsible for the day-to-day operations of Texas Energy, but Texas Energy shall employ the Registrant's accountants for all financial record-keeping and bookkeeping services and the Registrant will have control over any disbursements in excess of five thousand dollars ($5,000). SRI will be paid an annual managerial fee equal to five (5) percent of the net operating revenue of Texas Energy.
Unless sooner terminated by the mutual agreement of the parties thereto, or replaced by a definitive Joint Venture Agreement, the MOU shall have a term of five (5) years. The Registrant and SRI intend to operate Texas Energy under the terms of the MOU pending the completion of a definitive Joint Venture Agreement.
While the Registrant intends for this new joint venture to operate at a net profit, to date Texas Energy has no operating history and, therefore, the Registrant cannot predict what its results of operation will be, or how those operations will impact the operating results of the Registrant.
The foregoing description of the MOU and the transactions contemplated thereby is a summary of terms, is not intended to be complete and is qualified in its entirety by the complete text of that agreement, a copy of which is attached as Exhibit 10.1 to this Report. Furthermore, the foregoing description of the Leases is a summary, is not intended to be complete and is qualified in its entirety by the complete text of those agreements, copies of which are attached as Exhibits 10.2, 10.3, 10.4 and 10.5 to this Report.
Section 9. Financial Statement and Exhibits.
(c) Exhibits.
The following Exhibits are hereby filed as part of this Current Report on Form
8-K:
Exhibit Description
------- -----------
10.1 Memorandum of Understanding by and between Sundial Resources,
Inc., Ty McDermett and Andrew McDermett and Universal Property
Development and Acquisition Corporation dated March 7, 2006.
10.2 Assignment of Oil and Gas Leases from Sundial Resources, Inc.,
a Texas corporation, to Texas Energy, Inc., a Nevada
corporation, dated March 9, 2006.
10.3 Assignment of Oil and Gas Leases from Sundial Resources, Inc.,
a Texas corporation, to Texas Energy, Inc., a Nevada
corporation, dated March 9, 2006.
10.4 Assignment of Oil and Gas Leases from Sundial Resources, Inc.,
a Texas corporation, to Texas Energy, Inc., a Nevada
corporation, dated March 9, 2006.
10.5 Assignment of Oil and Gas Leases from Sundial Resources, Inc.,
a Texas corporation, to Texas Energy, Inc., a Nevada
corporation, dated March 9, 2006.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Universal Property Development and Acquisition Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
UNIVERSAL PROPERTY DEVELOPMENT AND
ACQUISITION CORPORATION
-----------------------------------------
Was that a doji today? ...today's news:
UPDA Enters Memorandum of Understanding With VALA Resources, Inc. - Prepares To Launch UPDA Petroleum Trading, Inc.
Wednesday March 15, 9:00 am ET
LAREDO, Texas--(BUSINESS WIRE)--March 15, 2006--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) and VALA Resources, Inc. of Laredo, Texas have entered into a Memorandum of Understanding to establish a joint venture corporation to trade in crude petroleum products. The joint venture corporation will be known as UPDA Petroleum Trading, Inc. (UPDA Trading). UPDA will own 80% of this new subsidiary which will be managed by VALA.
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UPDA Trading has received an initial offer which would allow it to purchase 6000 barrels of crude oil condensate per week. This condensate will be generated by Petroleos Mexicanos (PEMEX) (www.pemex.com) and will be sold to UPDA Trading at a discount. The condensate will be delivered to Brownsville, Texas by tanker truck from which point UPDA Trading will take possession and deliver it to a refiner.
"We believe this new trading arm is a perfect compliment to our existing business model," said UPDA Vice President Chris McCauley. "It allows UPDA to enter the petroleum arbitrage business, balance our own production and leverage our relationships with refiners. It also provides us with great flexibility for further vertical expansion within the industry."
The trading activity of UPDA Petroleum Trading, Inc. will be reported together with all well production at www.universalpropertydevelopment.com.
Am I the only one? Here's today's news and a chart:
http://biz.yahoo.com/bw/060320/20060320005577.html?.v=1
UPDA Petroleum Trading, Inc. Establishes Procedures For Acquisition and Transportation of PEMEX Condensate
Monday March 20, 9:00 am ET
LAREDO, Texas--(BUSINESS WIRE)--March 20, 2006--Representatives of UPDA Petroleum Trading, Inc.(a subsidiary of Universal Property Development and Acquisition Corporation) (OTCBB:UPDA - News) and VALA Resources, Inc. of Laredo, Texas met during the weekend in McAllen, Texas with representatives of Procesadora Industrial Petrocemica, S.A.D.C.V. in order to discuss the logistics and establish procedures for the acquisition and daily delivery of crude oil condensate produced by Petroleos Mexicanos (PEMEX) (www.pemex.com).
Procesadora Industrial Petrocemica, S.A.D.C.V. presently has the exclusive authority to sell condensate produced by PEMEX.
The parties agreed that up to 2700 barrels of condensate per day, six days per week, will be delivered to UPDA Trading by rail tank car. UPDA Trading will take possession of the condensate in Brownsville, Texas and arrange for its delivery for refinement by a purchaser to be determined. Procesadora Industrial Petrocemica, S.A.D.C.V. will sell the crude oil condensate to UPDA Trading at a substantial discount.
At this meeting, UPDA Trading was also provided with a sample of the condensate for analysis. It has been represented that the condensate is of high-quality and that the sulfur content, specific gravity and viscosity will be within 2% of the sample.
The trading activity of UPDA Petroleum Trading, Inc. will be reported together with all well production at www.universalpropertydevelopment.com.
Hopefully news in on the way!
Yesterday's volume was an all-time high, slightly more than the two big vol days in the last week of Jan. Price didn't move much though. I'd like to get some at .19 for a move to .30. I think the bottom is in short-term. Might get a brief backfill and then it runs.
I'm with you...does this qualify as a G-pattern?
laterz...Jody
Hopefully it will go up in the days to come. I am in @ .198.
Some News Out This Morning.
UPDA Petroleum Trading, Inc. Acquires Storage Facility and Testing Equipment - Prepares To Execute Final Contracts and Receive First Delivery
4/3/2006 9:10:01 AM
LAREDO, Texas, Apr 03, 2006 (BUSINESS WIRE) -- Representatives of UPDA Petroleum Trading, Inc.(a subsidiary of Universal Property Development and Acquisition Corporation) ( UPDA ) met on Friday in Brownsville, Texas with representatives of Procesadora Industrial Petrocemica, S.A.D.C.V. in order to finalize the terms of their agreement for the acquisition and daily delivery of crude oil condensate produced by Petroleos Mexicanos (PEMEX) ( www.pemex.com).
Procesadora Industrial Petrocemica, S.A.D.C.V. presently has the exclusive authority to sell condensate produced by PEMEX.
As a result of this meeting, UPDA Trading has arranged for the lease of a storage facility at the Port of Brownsville at which UPDA trading will receive daily delivery of the condensate. UPDA Trading has also acquired testing equipment to be utilized to determine the quality, specific gravity, sulfur content and viscosity of the product upon delivery.
It is expected that the final agreements will be executed at the parties' next meeting scheduled for Wednesday, April 5 and that the initial delivery will be received by UPDA Trading before the end of this week.
The trading activity of UPDA Petroleum Trading, Inc. will be reported together with all well production at www.universalpropertydevelopment.com.
UPDA up 27% today with more PR's to come this week hopefully.
Quote from: nmbr1ballr on April 03, 2006, 03:18:11 PM
with more PR's to come this week hopefully.
UPDA loves to issue PR's so it's a good bet there will be another this week. They seem to issue one PR every 3 or 4 business days. There doesn't seem to be a correlation between the stock price and PR's though. It's not like other stocks where PR's drive the stock price. So I don't care if we get another PR or not. I just want the manipulators to let the stock run for a while.
I agree Lucas....let it run! :)
I hope to see the 50MA and 200MA Golden Cross soon.
UPDA took good size hit. Down 16% :(
today is a good chance to pick up more!
UPDA continues to mirror the January pattern!
Tue Mar 28 = Fri Jan 6 (sticks a landing on heavy volume)
Wed Mar 29 = Mon Jan 9 (see next comment)
Thu Mar 30 = Tue Jan 10 (along w/ previous day, gives back most its gains from the landing)
Fri Mar 31 = ... (no match in Jan)
Mon Apr 3 = Wed Jan 11 (rebound on 2x volume)
Tue Apr 4 = Thu Jan 12 (gives back half the previous days gains, measured from intraday low to high)
Wed Apr 5 = TBD (if it sticks to schedule, another down day drops it just below .20)
Thu Apr 6 = TBD (if it sticks to schedule this is a reversal and day one of a good run)
Hope so. >:D
not quite...it gave back the previous days gains but, imo, looks to be forming a base. I HOPE SO!
Oil sector is bullish right now...we shall see what the week brings us.
Decent day today. Currently up 7% with about 5.5million volume.
That was some NICE volume!
anyone?
Heavy volume. No news. Very unusual. Bares watching. Could be time for a reentry.
News on revs just in....creeping up from a low.
Monday, May 22 2006 12:46 PM, EST
UPDA Board Summarizes Its Financial and Operational Results of the First Quarter - Company Files SEC Form 10-QSB
JUNO BEACH, Fla.--(BUSINESS WIRE)--May 22, 2006-- Today Universal Property Development and Acquisition Corporation (OTCBB:UPDA) filed its 10-QSB for the first quarter of 2006 and the Board of Directors is pleased to announce that the company continues to thrive on all fronts.
On the financial side, our revenues tripled over the last quarter and our assets increased by more than 40%. Our liabilities decreased by one third and our shareholders equity almost doubled since the beginning of the year.
Our revenues increased by more than 300% from $29,000 in the 4th quarter of 2005 to $106,000 in the 1st quarter of 2006. We have expanded our assets from $3.0 million to $4.3 million and at the same time decreased our liabilities to $392,000 from $650,000. In addition, shareholders' value increased by $1.6 million and our losses narrowed to approximately $475,000 from approximately $5,300,000 compared with the same period a year ago.
On the operational side, UPDA continues to expand and to prove itself a factor in the energy industry. Subsequent to the last quarter, we expanded our Oil and Gas holdings by forming a new subsidiary known as Texas Energy ("TEI"). TEI was initially started with 17 wells but, with the addition of the Catlin Oil and Gas Field, TEI increased its holdings to 82 wells. The creation of TEI doubled UPDA's Oil and Gas properties to over 6,000 acres and over 150 wells. Revenues from TEI started this month and it will be reflected in the 2nd Quarter of 2006.
Year to date we have also formed TEI Pipelines, UPDA Trading and UPDA Operators. TEI Pipelines will gather and transport natural gas that is produced on our leases as well as other leases in Jack County, TX. We are confident that this subsidiary will be very profitable and will contribute revenues in the 2nd quarter of this year. As a result of the Catlin acquisition we now own 12 miles of pipeline and over 70 miles of gathering systems. Recently we announced that we entered into a contract to acquire another pipeline which consist of approximately 18 miles of pipeline and over 80 miles of gathering systems. This acquisition is set to close on July 1st, 2006.
UPDA Trading was formed to engage in the trading of petroleum condensate from Mexico and also to hedge our production. We agreed to acquire storage facilities in the Port of Brownsville, Texas and we have complied with the regulations and requirements of US Customs, The Department of Homeland Security, The Brownsville Port Authority and EPA. We opened bank accounts with International Bank in McAllen, Texas to facilitate the transaction, and we received a corporate offer and are in the final stages of arranging logistics of the first shipment of this condensate.
UPDA Operators was formed to operate the wells of our various revenue generating subsidiaries, including TEI, TEI Pipelines and Canyon Creek Oil and Gas, Inc. ("CCOG"). This step was extremely important to control and protect our company's assets and maximize their production. State laws requires operators to carry appropriate bonding and insurances, and also gives the operators power over the owners of the mineral leases. Therefore, we feel it is prudent for us to have our own operating company and we structured the company accordingly.
UPDA continues to grow and as we look forward to the remainder of this quarter and into the next quarter and beyond, we feel the need more than ever to create our own well servicing company. In fact, UPDA is in the process of creating such a company, the function of which will be to perform the workover, repairs and regular maintenance of all the UPDA properties.
We also continue to refine the organization of our subsidiaries and implement internal controls to comply with all applicable laws and regulations, control costs and maximize revenues. This quarter we will unify and integrate all the accounting systems of our subsidiaries with the accounting systems of the parent company. We will improve our web site to provide more content and we will expand our investor relations division to meet the growing demand for real time information about our operations.
Also in this quarter, we will add a Geologist and a Petroleum Engineer to UPDA's top management. These oil and gas professionals will assist and advise the management on current operations as well as future acquisitions and they will work with various independent engineers to develop certified reserve reports for our subsidiaries.
The Board and the management of UPDA will continue to expand and improve the company. We are excited to see and pursue the continued growth of our company and will regularly report to our shareholders on the progress and successes of UPDA.
Please visit UPDA on its website at http://www.univeralpropertydevelopment.com.
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.
Hi
::) :o
UPDA Update to its Shareholders - Report on Activities during the Second Quarter - Management Insight on the Future
Business Wire - July 06, 2006 07:00
JUNO BEACH, Fla., Jul 06, 2006 (BUSINESS WIRE) -- The Fourth of July marked the first year of operations for Universal Property Development and Acquisition Corporation (OTCBB:UPDA). Since we started our first oil and gas subsidiary with less than 2000 acres and fewer than 60 wells, UPDA has made several acquisitions and now controls over 7,000 acres of oil and gas leases with over 150 wells and is generating production from three subsidiaries. Revenues have grown from $29,000 in the 4th quarter of 2005, to $106,000 in the 1st quarter of 2006 to over $1.2 Million in the 2nd quarter of 2006; including a gain on the sale of a partial interest in one lease (full financial results will be reported in our 10QSB within the next 45 days).
During the second quarter we reorganized the company and laid a solid foundation to ensure that the company will continue to develop as a strong and viable entity that will grow and prosper.
The UPDA subsidiaries report the following:
Canyon Creek Oil and Gas, Inc. now controls over 3000 acres and is producing oil from 6 wells on its Archer lease, oil and gas from 8 wells on its Coleman lease and from one well on the Prideaux lease while the work over of those properties, including 15 wells, continues. Compliance with Texas Rail Road Commission regulations was completed on the Palo Pinto lease and its 26 wells are expected to be brought on line this quarter. Halliburton was retained during the quarter in order to log the Inez well and a petroleum engineer was engaged to advise on its production opportunities. Canyon Creek remains optimistic about the possibilities of this property.
Texas Energy, Inc. has acquired a portfolio of approximately 1300 acres, completed the work over of its Nantz lease and brought it on line and into production. As a result of the successful progress of its work over program, the Texas Railroad Commission has lifted the severance from the Wiechman and the Thresher-Medlin leases and a total of 16 additional wells are expected to be brought on line this quarter.
Catlin Oil and Gas, Inc. completed the acquisition of over 2700 acres in Jack County, Texas on June 2, 2006 and immediately began repairing the extensive gas pipeline and gathering system that management anticipates will deliver substantial revenue from the transportation of natural gas production generated by neighboring operators. A significant increase in the delivery of gas to sale will result from these repairs and the marketing of transportation services will be pursued. The oil and gas professionals of Landmark have commenced the work over of the 65 existing wells on the property and plans are being formulated for the exploration of the Barnett Shale and other pay zones for the drilling of additional wells.
Updated production reports will be available on the UPDA web site (www.universalpropertydevelopment.com) within the next few days and the site is undergoing a complete redesign to provide real time information, multi-level access and further substantial enhancements and methods of communication in the near future.
As part the reorganization of the company, UPDA Operators, Inc. was established in the second quarter. This subsidiary will be responsible for the operation and management of UPDA's production assets. In conjunction with this subsidiary, UPDA is completing the formation of a well services company to manage all workovers, well maintenance and future drilling programs. This subsidiary will be staffed with very capable oil and gas personnel. The processes to be employed by these two subsidiaries will guarantee the aggressive and consistent pursuit of UPDA's ambitious business plan.
A professional geologist has been added to UPDA's management team and a petroleum engineer has been retained as a consultant to advise on technical matters. An assistant COO has been assigned to monitor each subsidiary and ensure the proper execution of the business plan in the field. New relations have been forged with investment bankers, and other professionals crucial to the company operations.
Preparation of an Independent Reserve Report of UPDA's oil and gas assets has been initiated. This report will significantly impact UPDA's balance sheet and should assist investors and shareholders in determining the market value of our company.
In summary, UPDA has established a scalable management formula for the internal analysis, operation, maintenance, development and expansion of oil and gas fields of all sizes and potential. As a result, prospective acquisitions will be analyzed by a management team including geologists and engineers and completed acquisitions will be managed, serviced and drilled by competent oil and gas professionals. Finally, through the state of the art internet applications in development, all properties will be monitored by a real time system that will allow management to immediately determine the status of all production and operations via the internet.
As shareholders and sentinels of UPDA, the management and board of directors are well aware of the decrease in our company's market cap and we are in diligent pursuit of programs and initiatives designed to improve and enhance shareholder value. From the business and operational side, we have streamlined and reorganized in order to expand control, decrease expenses and maximize revenue. From the communications side, we are building a state of the art website and formulating an extensive public relations program which will be coming into focus during the next two quarters.
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.
UPDA Retains Steven Fall As Chief Geologist
Tuesday , July 11, 2006 00:15 ET
Jul 11, 2006 (financialwire.net via COMTEX) -- July 11, 2006 (FinancialWire) Universal Property Development and Acquisition Corporation (OTCBB: UPDA) continued the restructuring of its operations and expansion of its oil and gas expertise through the recent addition of Steven A. Fall, certified petroleum geologist #2133, to its management team.
Having received both a bachelor's and master's degree in geology from Texas A&M University, Fall has been retained as UPDA's chief geologist, reporting to the board of directors on such matters as seismic analysis, reserve studies and drilling locations of existing properties and future acquisitions. He was an exploration geologist at Exxon-Mobil (NYSE: XOM).
During the last five years, Fall has focused his efforts on the evaluation of unconventional regional venture projects and the uses of new technology. He has a proven ability to build asset value through exploration, development, and acquisitions.
Fall will perform his duties at UPDA's office to be opened soon in the Houston area.
Universal Property Development and Acquisition Corporation is enrolled in Investrend Research's unique and pioneering professional analyst program, which facilitates independent analysts to provide financial coverage for shareholders and investors in companies that otherwise would have little or no analyst following. Enrollment in standards-based research is an important measure of a company's commitment to transparency and good governance.
Coverage on the company was irrevocably terminated on January 9, 2006, after the company issued a press release that misled investors about its role in a report issued by Investrend Research analyst Daniel Capo, CFA, in which he downgraded the company from a "No Rating/3" to a "Suspended/1." Investrend Research will not provide further research to the company as long as present management and key institutions are associated with it. Coverage was initiated with the company on November 16, 2005.
Enrollment fees for basic Benchmark coverage were $24,800 and were being paid by Morgan Merchants, a third party.
Investrend Research has been the leading independent equity research publishing and distribution program since 1996, with over 75 qualified professional analysts posting more than 1,200 reports to date. Anyone may enroll a company in the Investrend platforms. Enrollment fees for the Benchmark research platform are $31,800. Analysts are paid in advance for their initial reports by Investrend Research to limit or eliminate pecuniary interests and conflict; and no one associated with the program may own or trade in the equities of companies under coverage.
Investrend Research subscribes to the "Standards of Practice for Research Providers" at http://www.firstresearchconsortium.com, and its research is investor-monitored by the not-for-profit Shareholders Research Alliance, Inc. To join and participate, click on http://www.shareholdersresearch.com
Buyside Magazine has stated that Investrend Research "remains in the vanguard of both standards and independence." ODwyerPR has cited Investrend Research as "exceeding the standards of CFAI-NIRI." The CFA Magazine has cited Investrend and its affiliates as having "strict rules about compensation and full disclosure," which "should go a long way towards ensuring objectivity." Some 70.9% said in a survey at InvestoPedia that a company that enrolls for "legitimate fee-based research is making a positive statement about its investment potential." A survey at Charles Schwab & Co. revealed that 78% of active shareholders now "value research from independent firms over analysts by Wall Street firms with financial ties to the companies they are rating."
Complete information about any company enrolled in an Investrend shareholder empowerment platform, including those of its affiliates and independent analysts and webcasters, including disclosures and disclaimers, is available at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes and on each report and press release, and investors are advised to read those disclosures carefully before trading in the equities of any enrolled company.
The SEC Advisory Committee on Smaller Public Companies, in its recent final report endorsing company-sponsored research at http://www.sec.gov/info/smallbus/acspc/acspc-finalreport_d.pdf, stated: "the trading markets for public companies are assisted in great measure by the dissemination of quality investment research," noting "a lack of coverage by independent analysts limits shareholders' and prospective shareholders' ability to obtain an informed outsider's perspective on identifying strengths and weaknesses and areas for improvement."
:o ::)
Hi
;) ::)
has probably come to buy time (only my opinion)
HI
Weekly charts UPDA :o
Hi
;)
Hi
;)
Volume 600.000 UP +10%
Stockwire.com: The Pioneers of the STOCKUMENTARY, deliver the Movers and Shakers Blog, Part 4:
Wednesday, August 02, 2006 11:10 ET
(OTCBB:UPDA) For the three months ended 31 March 2006, Universal Property Development & Acq Corp.'s revenues totaled $106K, up from $0. Net loss decreased 91% to $475K. Revenues reflect the establishment of several joint ventures to enter into the oil & gas business and the producing well in the Canyon Creek subsidiary. Net loss reflects increased general & administrative expenses and the presence of depreciation charges due to the purchase of fixed assets.
Hi
:o ;)
Hi
Look UPDA +7% Volume 2.300.000
hi,
upda broke 6 resistance on volume. already double yesterdays volume :o
maxi
Looks Like your UPDA is about to break North. Pulls in alot of oil distilate from Pemex Mexico I believe!!
Revenues should increase dramatically.
soon as it breaks .07 it's off
i have added and will buy more on the .07 break.
hhmm,
what looked like a rally early now looks like a sell off.
can it bounce back?
maxi
have to pay to play so...
could be forming bottom as back in the start of the year- place a stop at .05 and if it breaks .07 you can set some type of mental trailing stop to protect profits, the 32 and the 50 are at .07 and .08 so if these break doubling down would give you another 20%- 40% just reaching .1
Hi
Yesterday 16.781.000 actions traded. Through ARCA sell actions in a plenty at levels 0.05 - 0.065, I hope, that sale will end in the near future and UPDA will go on the north .на greater sellers there are greater buyers at 0.05 - 0.065, the action does not fall below. :o
Hi
TA from http://americanbulls.com/StockPage.asp?CompanyTicker=UPDA&MarketTicker=OTC&Typ=S shows BUY-IF .
Certainly TA from Americanbulls it not 100 % a guarantee, but observing for UPDA last days I see, that who that does not allow it to lower below 0.05. First time for long time in game have entered Institutional - http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?ticker=UPDA ::) ;)
Wow Good thing I dont play this one anymore. Only thing that could happen here is gettin suck.
Quote from: BullMan on August 07, 2006, 05:49:21 PM
Wow Good thing I dont play this one anymore. Only thing that could happen here is gettin suck.
hi,
not sure what you mean. ?
strong finish chart might be shaping up if
a) it can break 06 . b) it can break the 20 day at .063. with the volume the other day above 06
the macd positive the 20 day flatenning out this might just be set for a run.
like to see it stay above 06.
let's see,
maxi
Quote from: rickjust on August 07, 2006, 07:52:18 PM
Quote from: BullMan on August 07, 2006, 05:49:21 PM
Wow Good thing I dont play this one anymore. Only thing that could happen here is gettin suck.
hi,
not sure what you mean. ?
strong finish chart might be shaping up if
a) it can break 06 . b) it can break the 20 day at .063. with the volume the other day above 06
the macd positive the 20 day flatenning out this might just be set for a run.
like to see it stay above 06.
let's see,
maxi
This pps follows a pattern and its tested its resistence 3 times. Look for a downward spiral. Just and observer looking in.
DJ US Army Considering Military Theme Park Next To Museum
08/08/2006
Dow Jones News Services
(Copyright © 2006 Dow Jones & Company, Inc.)
FORT BELVOIR, Virginia (AP)--The U.S. Army is considering a proposal to allow a private developer to build a military theme park that would include "4D" rides and bars including a "1st Division Lounge."
Military officials said a massive entertainment and hotel complex built next to a national Army museum could draw more than 1 million people a year. But authorities in Fairfax County, Virginia, are objecting because of already traffic-clogged roads surrounding the proposed site.
Universal City Property Management III, of Orlando, Florida, submitted the unsolicited proposal for the theme park last year.
"You can command the latest M-1 tank, feel the rush of a paratrooper freefall, fly a Cobra Gunship or defend your B-17 as a waist gunner," according to the proposal, which was obtained by The Washington Post.
County officials have no authority over the Army's decision because the site is federal property. County Supervisor T. Dana Kauffman said he thought the entertainment concept died last year and said he had no interest in turning a military museum into "Disney on Rolling Road."
But the Army notified the county last week it is planning to move the military museum from Fort Belvoir to a site a few miles away that would be large enough for the entertainment complex.
The Washington Post reported that the Army is considering the entertainment venue to help offset the cost of the $300 million museum, which a spokesman said is scheduled to open in 2013.
Hi
:o ::)
Over 20 Million dollars in reserve and capacity growing very quickly! DD!
September 18, 2006 - 5:29 AM EST
Landmark Completes Mobilization at Catlin Field - Pace of Program to Increase - Ambient to Develop Plan for Canyon Creek
Now that Landmark 4, LLC has completed its mobilization to UPDA's Catlin Oil and Gas Field in Jack County, Texas, Universal Property Development and Acquisition Corporation (OTCBB:UPDA) subsidiary, Ambient Wells Services, Inc., is preparing an expansive plan to pursue similar programs at the various oil and gas fields owned by another UPDA subsidiary, Canyon Creek Oil and Gas, Inc. Once this plan is complete, Ambient will have crews working in Canyon Creek's fields in Archer, Coleman and Palo Pinto Counties while Landmark continues its efforts on Catlin with a crew of 10 or more men and hundreds of thousands of dollars of equipment purchased specifically for this aggressive project.
"These projects demonstrate the application of our new business model, revised to utilize our own crews and management to complete the well service work," said Chris McCauley, UPDA Vice President. "As a result of previous disappointments, UPDA management re-visited its business plan and determined that its own efforts resulted in the successful acquisition of many promising properties but its reliance then on others to manage and direct the workover of those properties was not succeeding in the same fashion. Accordingly, we assembled a team of our own experts and established Ambient Wells Services, Inc. to manage the projects and ensure their successful completion. The programs on Catlin, Archer, Coleman and Palo Pinto are just the beginning of what we are confident is a business plan that will ultimately generate the production that we always believed these properties were capable of generating."
"Now that we are in a position, using Ambient and Landmark, to properly repair and rework these wells and pipelines using our own crews and competent contractors, we have every reason to anticipate steady progress and immediate success," said Ambient COO Gaby Damary. "As demonstrated by last week's return of 7 wells to production on Catlin, we will be moving forward from this point with great urgency. At the current pace, we expect to have the 64 Catlin wells and pipeline completed and producing within Landmark's 60 day bonus period and Ambient's crews will be well on their way to increasing and restoring the production from as many as 75 Canyon Creek wells. We look forward to the work ahead of us."
The continuing progress of this project will be reported by UPDA as it continues to update its website at: www.universalpropertydevelopment.com.
This stock has a 10 page running thread,
Here.... http://www.3stocksonfire.org/trading/index.php?topic=3131.135
Do a search please for the thread, and post your comments there to update the thread that is already running.
No gain in starting a New Thread...... ???
Here is the thread...... ;)
here is the profits ;)
Quote from: evgeny05 on August 04, 2006, 08:22:50 AM
Hi
Yesterday 16.781.000 actions traded. Through ARCA sell actions in a plenty at levels 0.05 - 0.065, I hope, that sale will end in the near future and UPDA will go on the north .на greater sellers there are greater buyers at 0.05 - 0.065, the action does not fall below. :o
I am very happy, that have not sold in levels 0.05 and yesterday on falling too have not sold. Today I think there will be an interesting game. Before the market of +35 %.
Only my opinion.Natural Gas Pipeline Construction Continues at Catlin Field -- Oil Sales Increase as Additional Wells Turned to Production
Thursday , September 21, 2006 06:00 ET
JACKSBORO, Texas, Sep 21, 2006 (BUSINESS WIRE) -- 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) subsidiary Ambient Wells Services, Inc. has turned additional wells to production.
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."
The progress of this project will be reported by UPDA as it continues to update its website at: www.universalpropertydevelopment.com.
About UPDA
October 24, 2006 - 5:29 AM EST
Testing and Adjustment Continue at UPDA's Catlin Field -- Over 100 Barrels of Oil Produced From 9 Wells in 36 Hours -- UPDA CEO To Be Featured In Wall Street Reporter Magazine
As production is reestablished at Universal Property Development and Acquisition Corporation (OTCBB:UPDA) subsidiary's, Catlin Oil and Gas Field in Jack County, Texas, field service crews continue to test and adjust the on-site equipment in order to maximize production, ensure environmental protection and provide for the safe and efficient delivery of oil and natural gas to market.
For the 36 hours ending at noon on Monday, the field produced over 100 barrels of oil from only 9 wells.
"As with any project of this scope and duration, the new equipment and pipelines we have installed require some tweaking after they are turned on," reports UPDA Vice President Chris McCauley. "Although we have brought more than 20 wells online, we discovered some minor electrical upgrades that are required. Pending completion of these upgrades, less than half of the wells were producing the past two days yet the field still generated over 100 barrels of oil."
An electrician began work Monday morning to re-wire all of the pumping units and 3 were completed by the end of the day. Each well will be returned to full production as soon as their electrical connections are upgraded.
"Even with the relatively few number of wells that were being pumped over the weekend, I have been told that, in addition to over 100 barrels of oil, we also sold more than 120 mcf gas in one day," concluded McCauley. "This number was limited by the fact that the compressor required constant monitoring while it was being adjusted. With the current spot price of gas over $7.00/mcf, we are encouraged by this early production from wells that previously produced almost no gas and we are optimistic that the numbers will increase significantly once the adjustments are completed and the remaining wells are turned to production."
In other news, Kamal Abdallah, Chairman and CEO of UPDA will be interviewed at 3 PM today as part of the feature of UPDA in Wall Street Reporter Magazine. To hear the interview, log on to www.wallstreetreporter.com.
The progress of these projects will be reported by UPDA as it continues to update its website at: www.universalpropertydevelopment.com.
UPDA could be a $25 Million dollar revenue company! $3 + PPS!
Press Release Source: Universal Property Development and Acquisition Corporation
Letter of Intent for UPDA Acquisition in Wyoming to be Executed - Debt Financing Arrangements Underway
Thursday September 28, 6:29 am ET
Proposed Acquisition Generates Current Revenues Of $22 - $25 Million Per Year
JUNO BEACH, Fla.--(BUSINESS WIRE)--With the anticipated receipt from the Seller of the executed letter of intent, Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) now has 60 days to complete the due diligence for its largest acquisition to date, an oil and gas field of approximately 20,000 acres with 220 producing wells and over $6 million of service equipment located mainly within the state of Wyoming. With this acquisition, UPDA will exponentially increase its acreage and reserve assets and generate additional annual revenues of $22 - $25 million.
ADVERTISEMENT
"These leases combine a mixture of traditional oil and gas wells and shallow coal bed wells and are making substantial oil as well as 3000 - 4000 mcfg/day already," reports UPDA Vice President Chris McCauley. "The coal bed properties, where a typical well is about 1000 feet or less, provide an opportunity to begin drilling multiple wells per week as soon as the transaction is closed. With the service equipment and water transport and disposal assets being acquired in the deal, the coal bed methane production could be greatly increased very quickly. In addition, the service equipment will allow UPDA's well service subsidiary, Ambient, to significantly expand its operations."
The transaction, valued at between $40 and $50 million, also involves substantial real estate assets including 2 office buildings, several warehouses, an equipment yard and vacant land.
UPDA's investment bankers are in the process of arranging debt financing to complete the acquisition before the end of the year.
The progress of this potential acquisition will be reported by UPDA as it continues to update its website at: www.universalpropertydevelopment.com....
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.
About Coal Bed Natural Gas (CBNG)
According to the National Energy Technology Laboratory, a branch of US Department of Energy, coal bed natural gas (CBNG) -- also referred to as coal bed methane -- has become a valuable part of our Nation's energy portfolio. CBNG production has increased during the last 15 years and now accounts for about a twelfth of U.S. natural gas production. As America's natural gas demand grows substantially over the next two decades, CBNG will become increasingly important for ensuring adequate and secure natural gas supplies for the United States. CBNG is the gas found in coal deposits. It consists mostly of methane but may also contain trace amounts of carbon dioxide and/or nitrogen. Most coal beds are permeated with methane, and a cubic foot of coal can contain six or seven times the volume of natural gas that exists in a cubic foot of a conventional sandstone reservoir.
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.
I nibbled a little bit at .082 :'(
The news will be endless from here onwards, better to be in than out. Lets see when all wells are online in full production. The PPS will be alot higher!
It's time to buy. Chart forming is perfect for a the next leg North.
November 27, 2006 - 6:29 AM EST
UPDA Canyon Creek Subsidiary Resumes Production of Oil and Natural Gas In Archer County and Coleman County - Catlin Subsidiary Continues to Increase Production in Jack County - UPDA has Aggressive Plan to Complete Workover of All Fields By End of the Year
Universal Property Development and Acquisition Corporation (OTCBB:UPDA) subsidiary Canyon Creek Oil and Gas, Inc., has returned its Archer County Regular Field and Coleman County oil and gas field to production while the Catlin Oil and Gas, Inc. subsidiary completes the workover of the Catlin Field and continues to increase the production from its wells in Jack County.
In Archer County, Canyon Creek returned its Number 11 well to production for the first time in over 20 years. "When we first turned the well on, oil spouted more than 10 feet into the air," described Gaby Damary, COO of UPDA subsidiary Ambient Wells Services. Prior to being shut-in in August, this field had been generating more than 30 barrels of oil per day which should increase with the addition of more wells. This additional production was made possible after the successful H5 test of a new injection well on the property and the receipt from the Texas Rail Road Commission of a permit to operate that well.
In Coleman County, Canyon Creek returned 2 wells to production on November 18. These wells, which have not been produced for almost 30 years, have generated approximately 15 barrels of oil per day since being brought on line.
UPDA's Catlin subsidiary continues the workover of its field in Jack County, Texas and production from its Matlock Lease has shown dramatic improvement. "I am told that production from the Matlock is literally off the chart," reports Chris McCauley, UPDA Vice President. "There is over 120 pounds of pressure on the pipeline around the clock. This is the type of improvement we were expecting when we began work on these wells."
Consistent with these promising production results, UPDA has formulated an aggressive plan to complete the workover of all of its properties by the end of this year. "Success is contagious," admits Ambient's Damary. "We are anxious to execute the ambitious plan that the management of UPDA has laid out for us and are very optimistic about the expected results."
UPDA's website at: www.universalpropertydevelopment.com will this week begin timely updates of production from all of the wells as improvements to the site and the wells continue.
About UPDA
Soon to be on line.
Draak,I see you have created a new thread on this pick , "Once again" ??? >:D
In the process of merging all UPDA threads....
"UPDA.OB" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Thank You....and good luck with all your trades....make some $$$
Draak,
This message is especially for you.
Warning, do not create a new thread on this pick.
If you have a comment or something to post about this stock pick, "Use this thread"!
If you continue to insist on a new thread, I will delete it.......No more merger...
Thank you.
I'm glad you've combined the threads, sometimes I look for a thread and I take the thread on date (latest only). You keep giving me grief about threads when there are many stocks on this board with multiple threads.
If I chose to pick a company do I chose the latest date of the last post?
I hope you took in a holding of UPDA!
Quote from: Draak on November 29, 2006, 05:39:51 PM
I'm glad you've combined the threads, sometimes I look for a thread and I take the thread on date (latest only). You keep giving me grief about threads when there are many stocks on this board with multiple threads.
If I chose to pick a company do I chose the latest date of the last post?
I hope you took in a holding of UPDA!
Yes, I am merging threads. This one came to my attention when I saw that you found it
necessary to start a new thread today. "not the first time on this same pick"
So I am not giving you grief about this matter. You bring that upon yourself when you choose to create a new thread on a stock pick that already exist
I am working very hard to merge all threads with multiple ones created. This is a task that will not be accomplished in one day.
As I have stated....
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Quote from: setravis on November 29, 2006, 03:25:02 PM
Draak,I see you have created a new thread on this pick , "Once again" ??? >:D
In the process of merging all UPDA threads....
He does the same thing on the OTCBBCoverage.com site
...kids these days. :(
November 30, 2006 - 6:29 AM EST
UPDA Continues Aggressive Plan to Return All Wells to Production by the End of the Year
Universal Property Development and Acquisition Corporation's (OTCBB:UPDA) subsidiaries Canyon Creek Oil and Gas, Inc. and Catlin Oil and Gas, Inc., together with its operating subsidiary, UPDA Operators, Inc. and its service subsidiary, Ambient Wells Services, Inc. remain on target in their aggressive plans to return all of UPDA's oil and gas wells to production by the end of the year.
Ambient and its subcontractors continue to work on Canyon Creek's Prideaux Field and UPDA Operators has received a new contract from Targa North Texas, LP to purchase all of the natural gas expected to be produced from this field.
In Palo Pinto County, Ambient and the Texas Rail Road Commission are scheduled to conduct an H5 test of the injection wells that, when completed, will allow UPDA Operators to turn an additional 25 wells to production to supplement the more than 20 wells Canyon Creek is already producing in Coleman and Archer Counties.
Catlin Oil and Gas reports that all of the north side of its field in Jack County has been readied for production while Ambient completes the workover of its south side wells. UPDA Operators is negotiating a new contract with Conoco-Phillips (NYSE:COP) for the purchase of all of the crude oil produced by the 65 wells in the Catlin Field.
"We continue to work at a feverish pace," reports Gaby Damary, COO of Ambient. "We have rigs working 12-16 hour days and roustabout crews working 70 hour weeks to complete this ambitious project. We fully expect all of the wells to be in production before Christmas."
For timely updates of this progress, visit UPDA's website at: www.universalpropertydevelopment.com which will report production from all of the wells as improvements to the site and the wells continue.
About UPDA
Wow..finally broke over that .12 today and now attacking the next res at .135..very nice today.
I had been waiting for it to break the .12 for weeks now....it would have been a nice gspot break if it hit the .12 within a couple of weeks of its last run to that pps.
glta
julia
February 26, 2007 - 8:41 AM EST
UPDA US Petroleum Depot Subsidiary Expands Condensate Deliveries at Brownsville Storage Facility
US Petroleum Depot, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has accelerated the rate of delivery of light crude condensate at its storage facility located in the Port of Brownsville, Texas and has increased its inventory to nearly 8000 bbls.
US Petroleum Depot expects to continue receiving shipments at the rate of 10-20 200 bbl trucks per day as it prepares to commence deliveries to its customers on 20,000 bbl barges.
"The accelerating delivery rate will allow USPD to begin shipping to customers in the near future and the storage capacity at Brownsville will provide for continuing shipments as we sell from one tank and build inventory in the other," reports US Petroleum Depot's Tim Brink. "The plan is to build toward delivering at least one barge per week as we reach full capacity."
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: 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.
Revenue to start rolling in.
UPDA Subsidiary Prepares to Commence Sales of Condensate from Brownsville Storage Facility
Thursday March 1, 6:29 am ET
BROWNSVILLE, Texas--(BUSINESS WIRE)--Now that US Petroleum Depot, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News; FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has filled the first of its four 12,000 barrel storage tanks at its facility located in the Port of Brownsville, Texas it is preparing to initiate sale of the light crude oil it has been stockpiling for the past 2 weeks.
As the final regulatory approvals are obtained, USPD has continued improvements at the facility with the recent installation of new pumps on the 6 and 8 inch pipelines utilized to load the 20,000 barrel barges that will deliver the crude to USPD's customers.
"The facility is ready to go and we expect to receive final regulatory approval so that we can begin sales next week," reports USPD's Agustin Soto. We have trained all of the personnel on the proper procedures for barge loading and with recent increases in the price of crude, our margins continue to expand. Once we make our first delivery, we expect to really pick up the pace."
The reason UPDA is taking on distillate imports from Mexico.
http://tonto.eia.doe.gov/dnav/pet/pet_cons_821dsta_dcu_nus_a.htm
"UPDA.OB" Threads have been Merged. "One more time" ::) :( >:D
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock. :( ::)
Thank You....and good luck with all your trades....make some $$$ ;) ;D
I will leave you today's closing chart while I'm in this thread.......