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UPDA Aztec Well Services, Inc. Subsidiary Spuds Fifth Well in Cherokee Basin Runs Logs and Sets Production Pipe
08:50 22.06.07
SPRING HILL, Kansas--(BUSINESS WIRE)--Aztec Well Services, Inc., a subsidiary of Universal Property
Development and Acquisition Corporation (OTCBB: UPDA) (FWB:UP1)
(BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1), continues its drilling
operations in the Cherokee Basin Field owned by another UPDA subsidiary,
Heartland Oil and Gas Corporation (OTCBB: HOGC) (
www.heartlandoilandgas.com).During the past week, Aztec has run logs and cemented the production
pipe in 4 new wells and commenced the drilling of a fifth well. The
drilling logs of the wells all demonstrate commercial potential with the
Peckman 11-17 showing 11 total feet of black shale (coal) gas seams in
four different zones from 268 feet to 433 feet and 7 feet of Cattlemans
sand gas at 454 feet. The Clausen 14-6 showed 9 feet of coal gas and 23
feet of sand gas, the Oberheide 14-8, 2 feet of gas from coal and 9 feet
from sand and the Warring 31-8, 4 feet of sand gas.
Aztec has also hired a roustabout crew to begin preparation of the sites
for installation of the pipeline necessary to connect the wells to the
gathering system.
We are making great progress in the field and
we have drilled four nice wells, reports
Aztec COO Agustin Soto. Despite the recent
bad weather, we have been able to get several wells drilled and logged
and production pipe set and cemented. The management of UPDA and
Heartland has directed us to complete these wells, connect them to the
gathering system and continue with this drilling program.
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: 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. Consistent with this business plan, UPDA has recently
acquired majority ownership of two additional public companies,
Heartland Oil and Gas Corporation (OTC BB: HOGC) and Continental Fuels,
Inc. (OTC BB: CFUL) (
www.continentalfuels.com), and established a private, wholly-owned subsidiary, Aztec Well Services,
Inc., thereby expanding its asset base and significantly increasing its
sources of potential revenue.
Statements contained in this press release that are not based upon
current or historical fact are forward-looking in nature. Such
forward-looking statements reflect the current views of management with
respect to future events and are subject to certain risks,
uncertainties, and assumptions. Should one or more of these risks or
uncertainties materialize or should underlying assumptions prove
incorrect, actual results may vary materially from those described
herein as anticipated, believed, estimated, expected, or described
pursuant to similar expressions.