UPDV.PK

[la-onda]

1)
Profile:
Universal Property Development and Acquisition Corporation (UPDA/UPDV) is engaged in the oil and natural gas acquisition, exploration, production, development, storage and distribution industry. It has operations in the States of Texas and Kansas. The Company operates in two segments: the petroleum products storage, resale and transportation segment, and the oil and gas property acquisition, development and production segment. Continental Fuels, Inc. (Continental) conducts the Company's operations in its petroleum products storage resale and transportation segment. Heartland Oil and Gas Corp. (Heartland) conducts operations in the Company's oil and gas property acquisition, development and production segment. The oil and gas properties acquisition, development and production segment is focused primarily on the development of oil and gas leases on properties located in the States of Kansas and Texas and the production of coal bed methane, natural gas and oil on those properties.
Segments
During 2008, the Company has restructured its operations into the following two segments:
a)
Petroleum products storage, resale and transportation segment
The Company's petroleum products storage, resale and transportation operations are carried out by Continental Fuels, which owns and operates port facilities, and the storage, distribution and transportation businesses. Continental Fuels is focused on increasing petroleum products, trading and securing new supply contracts, and customer relationships.

b)
Oil and gas property acquisition, development and production segment
The five remaining subsidiaries comprise the oil and gas properties acquisition, development and production segment. Heartland owns and operates oil and gas properties in north Texas, southeast Kans as (the Cherokee Basin) and northwest Kansas (the Forest City Basin).
Aztec Well Service Inc. carries out Heartland's drilling and workover programs and also provides drilling services to other exploration and production companies.
Canyon Creek and Catlin Oil & Gas identify and acquire promising oil and gas properties, low-risk drilling prospects and prospects in need of state-of-the-art technology to make them viable.

2)
Research File:
http://www.knobias.com/research.pdf?id=13445

3)
Chart:

[la-onda]

plus 50% so far, nice & bullish  charting 

[la-onda]

update for UPDV & HTOG:

Heartland Farmout Project Yields Well Producing 65 Barrels per Day in Northern Kansas - Further Drilling on Remaining 500,000 Acres Planned
Thursday , July 24, 2008 09:05ET

NEMAHA COUNTY, Kan., Jul 24, 2008 (BUSINESS WIRE) -- Heartland Oil and Gas Corp. (OTC BB: HTOG) (FWB: HOCA) was recently informed by its drilling partner that the first well drilled on Heartland's farmout acreage in Northern Kansas yielded a well producing 65 barrels per day of crude oil. As a result of this success, Heartland has undertaken planning to expand this farmout program and to begin drilling additional wells on the 500,000 acres it has under lease in this area.

"This is obviously a very exciting prospect," remarked Heartland spokesman Jack Baker. "The discovery of a 65 barrel per day well in the heart of our vast acreage in Northern Kansas establishes great value in that acreage that we intend to aggressively exploit and since many of our leases up there have terms of 5 or 6 years or more, we will have drilling opportunities for many years into the future. Coupled with the successes of our coalbed methane fields in the southern portion of the state, our accomplishments in Kansas seem boundless."

[la-onda]

Heartland Revenues Continue to Grow -- Production in Jack County, Texas Exceeds 400 mcfg/day


JACKSBORO, Texas, Sep 02, 2008 (BUSINESS WIRE) -- While Heartland Oil and Gas Corp. (OTC BB: HTOG) (FWB: HOCA) continues work on its new wells and gathering system in Kansas, production from existing wells has further expanded resulting in additional revenue growth. At its Catlin Oil and Gas Field in Jack County, Texas, Heartland has completed additional well improvements and increased production to over 400 mcfg/day. Heartland has also expanded the production from its existing coalbed methane wells in Miami County, Kansas through enhanced maintenance procedures and accelerated replacement of downhole equipment.

Total revenue from all natural gas operations, including 26 of 38 wells in Kansas in addition to the producing wells in Palo Pinto and Jack County, Texas, exceeded $330,000 during the month of July.

[setravis]

Changed Ticker Symbol
UPDV.OB is no longer valid. It has changed to UPDV.PK