UPDA.OB

[evgeny05]

 

[garym]

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.

[Wax]

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.

[evgeny05]

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

[Lucas Scott]

Could run to 60-80 but I think I'll just watch

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.

[OneStockMind]

If it can close above 20-day MA I'll buy it.

[metro]

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

[SarfiSoy]

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. 

[evgeny05]

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

[Lucas Scott]

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!!

[Wax]

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

[Lucas Scott]

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.

[Livana]

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% 

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?

[stock-kitty]

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

[Livana]

Thanks stock-kitty... I will sure be watching closely tomorrow and Friday