HOUSTON--(BUSINESS WIRE)--Jan. 26, 2006--Canyon Creek Oil & Gas Inc. (A Joint Venture of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) and USProduction & Exploration, LLC (USPX), a privately held Company) successfully removed the residual concrete from the bottom of the #1 Roberts Unit located on its 243 acre lease in Victoria County, Texas this afternoon. Further gamma-ray logs confirmed the excellent quality sand and the neutron log run simultaneously with the gamma-ray indicates gas productive in the Yegua "A", "B" and "C" stringers. Based upon this information, the management of Canyon Creek decided to perforate the well in the lower Yegua "C" sand below 8730'. ADVERTISEMENT Canyon Creek successfully perforated the tubing this afternoon and the well unloaded itself and brought gas to the surface within 30 minutes.
The management of Canyon Creek and UPDA will continue to monitor the well throughout the day.
Upon original completion in 1990, the #1 Roberts Unit flowed at an absolute open flow of 9,000,000 cfg from the Yegua "B" stringer as reported to the Railroad Commission of Texas on Form G-1. The Form G-1 shows the well flowing 2,668 mcfgpd on a 8/64'' choke with 4,727 psi flowing tubing pressure |