UPDA.OB

[Livana]

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"   

The company has had good PR in December: (in ascending date order)

Canyon 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

Canyon 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

Canyon Creek Oil Production Approaches 1000 Barrels - Results Exceed Expectations in Archer County Regular Field
Tuesday December 27, 10:07 am ET

Crude 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.

[evgeny05]

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

[doyerdiligence]

anyone else alive in this thing?
i picked some up today on a hunch they are covering some shorts

[doyerdiligence]

i heard these guys could be pulling 5mill a month

[GatewayStocks]

LOL.. That was the company guidance last fall...Something wrong with this diluting pig...JMHO

Still Absolutely no  support below right now...be carefull

[doyerdiligence]

 how did you make out gatewaystocks? you seem awefully bitter
so, did you sell out of all your position?

[Lucas Scott]

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.

[GatewayStocks]

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

how did you make out gatewaystocks? you seem awefully bitter
so, did you sell out of all your position?

[doyerdiligence]

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

[nita]

Looks like UPDA is moving!!!!

[doyerdiligence]

 

[evgeny05]

[Lucas Scott]

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.

[SarfiSoy]

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

[doyerdiligence]

surely it will set higher highs on monday
time to party for the weekend!