UPDA.OB

[rv]

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.

[Livana]

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.

[Livana]

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

[Livana]

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?

[doyerdiligence]

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.

[422fwhp]

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...

[422fwhp]

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
-----------------------------------------

[422fwhp]

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.

[422fwhp]

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.

[garym]

Hopefully news in on the way!

[Lucas Scott]

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.

[422fwhp]

I'm with you...does this qualify as a G-pattern?

laterz...Jody

[nmbr1ballr]

Hopefully it will go up in the days to come.  I am in @ .198.

[nmbr1ballr]

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.

[nmbr1ballr]

UPDA up 27% today with more PR's to come this week hopefully.