UPDA.OB

[evgeny05]

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.

[catrader]

now 0.28 +0.02 on the following pr, http://biz.yahoo.com/prnews/051003/lam096.html?.v=21.  might move no?

[cumulina]

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:

[catrader]

guess that can be one of the subsidiary businesses, anyways still running now 0.345  +0.085

[saffeysite1]

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.

[setravis]

Nice little move with some good volume on it.
I'm going to watch this one with you....

[runforthedoor]

  Bidding up pre-open. 

[digitx]

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

[422fwhp]

I nibbled some as well.

[gmarc66]

Hey nice pick Saffeysite!

Any projections as to how high this may go...i am considering buying in.

Thanks!

Goodluck!
julia

[422fwhp]

Applaud for a great pic...the only green on my screen yesterday.

Hopefully it will stay above the 50(MA).

Jody

[422fwhp]

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.

[catrader]

on fire today   0.53 +0.11

[runforthedoor]

Was going to buy this several days ago in the 03's but went elsewhere...it's still flying today...up another 30 plus %.....  

[digitx]

maybe next time runforthedoor. Sometimes we miss th best ones. Fortunately I was able to get in early.