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Wollte sie dennoch mal reinstellen. Zu diesem Zeitpunkt war die Aktie auf einem Niveau zwischen €0,40 und €0,50. Soll keine Kaufempfehlung sein, sondern dient zur Information.
Die Rohstoff-Aktie Universal Property Development & Acquisition Corp., kurz UPDA (WKN: A0ETWH) ist weiter grotesk unterbewertet. Wird die Produktion wie geplant hochgefahren, setzt das Unternehmen in Kürze im Monat mehr um, als es derzeit am Markt wert ist. Für spekulative Anleger eine Chance, die man selten findet.
Erneut möchten wir Sie auf den aussichtsreichen Öl- und Gaswert UPDA, aufmerksam machen, den wir bereits ausführlich an dieser Stelle porträtiert haben. Die Welle an guten Nachrichten aus dem Unternehmen geht weiter. Die Aktie bietet auf dem aktuellen Niveau derweil eine günstige Einstiegschance.
UPDA ist auf die Akquisition unterbewerteter nachgewiesener Öl- und Gasvorkommen und deren Weiterentwicklung spezialisiert. Im Rahmen von Joint Ventures arbeitet man mit unterkapitalisierten Eignern von Öl- und Gasquellen oder innovativen Technologien zusammen und revitalisiert stillgelegte Öl- und Gasquellen. Derzeit hat das Unternehmen zwei operativ tätigt Töchter, zum einen in Texas mit Canyon Creek Oil & Gas, an dem UPDA jüngst seine Anteile auf 65 Prozent aufgestockt hat, zum anderem in Utah mit West Oil & Gas Inc., an der UPDA 60 Prozent hält.
Während einige Quellen, die das Unternehmen über die beiden Töchter akquiriert hat, bereits Öl und Gas fördern, geht an verschiedenen Projekten ein Ausbau- und Revitalisierungsprozess vonstatten. Damit sollen die zukünftigen Produktionsvolumina deutlich gesteigert werden. Für die zu erwartende Produktion sind Absatzverträge bereits vorhanden, sodass Umsatz- und Ertragssteigerungen in der kommenden Zeit zu erwarten sind. Noch im Laufe dieses Kalenderquartals, wahrscheinlich im November, soll die Produktion in allen Feldern auf Touren gekommen sein.
Ein Beispiel für den schrittweisen Ausbau der Produktion ist das Geschäft von West Oil & Gas. Lag die Förderung bei unserer letzten Analyse der Aktie noch bei 3 Millionen Kubikfuß Gas pro Tag, wurde diese mittlerweile um 50 Prozent ausgebaut, was sich in steigenden Quartalsumsätzen niederschlagen wird. Die Gesamtförderung liegt bisher bei 34 Millionen Kubikfuß Gas. Bis Ende November sollen alle sechs Quellen produzieren und die Zahl der Quellen bis 2007 um 80 ausgebaut werden. Das hätte einen massiven anstieg der förderbaren Reserven zur Folge.
Auch in die Expansion bei Canyon Creek Oil & Gas pumpt UPDA weiteres Geld. Hier wurde ein sehr erfahrenes Managementteam zusammen gestellt, das um den Geologen Donald W. Orr auf viele Jahrzehnte Branchenerfahrung in verschiedensten Bereichen zurückblicken kann – vom Bohren von Quellen über das Management von Öl-Companys bis hin zu Rechtsexperten ist breit gestreutes Know-How vorhanden.
Die Expansion der Förderung und dessen Finanzierung muss auch vor dem Hintergrund gesehen werden, dass sich der Cashflow der Gesellschaft in den kommenden Wochen massiv verbessern wird. Das Management des US-Unternehmens schätzt, dass die Töchter von UPDA nach Abschluss der laufenden Arbeiten an der Modernisierung und Revitalisierung bereits akquirierter Öl- und Gasquellen einen Monatsumsatz von rund 5 Millionen Dollar erzielen können. Die dabei unterstellten Preise für Gas und Öl sowie die Fördermengen sind durchaus als konservativ einzustufen. Kommt man besser als erwartet voran, bestehen hier Reserven nach oben.
Ein Blick auf die Rohstoffreserven, auf die UPDA Zugriff hat, zeigt das immense Potenzial. Durch die Akquisitionen wurden die Rohstoffreserven von 35 Millionen Dollar auf 200 Millionen Dollar (!) ausgebaut. Bei West Oil & Gas sind weitere Gasreserven im Wert einer halben Milliarde Dollar zu erwarten, die durch den erwähnten Ausbau der bereits bestehenden Produktionsanlagen um bis zu 80 Quellen förderbar werden – und dabei sind Ölvorkommen auf dem betreffenden Gebiet noch gar nicht eingerechnet.
Die UPDA-Aktie ist daher derzeit eine der interessantesten Spekulationen im Rohstoff-Sektor. Da sich die Produktion im Aufbau befindet, konnte das Unternehmen bisher mit den Quartalsberichten noch nicht glänzen. Das sollte sich ändern, sobald die Produktion ins Rollen kommt. Derzeit ist das Unternehmen weniger wert, als man noch in diesem Quartal pro Monat (!) umzusetzen plant. Dazu kommen die immensen Reserven, auf die Zugriff besteht bzw. zukünftig Zugriff bestehen wird, die die aktuelle Bewertung in der Summe aller Projekte um weit mehr als das Hundertfache übersteigen.
Das Fazit ist damit eindeutig: Die Aktie erscheint aus der dargestellten Sichtweise zurzeit völlig unterbewertet. Dies drückt sich auch darin aus, dass UPDA-Chef Kamal Abdallah zuletzt noch einmal eine Million Dollar in das Unternehmen gesteckt hat. Dazu wurde die Zahl der ausgegebenen Aktien durch die Rückabwicklung eines Immobilien-Deals (wir berichteten) um 1,4 Millionen gesenkt. Sobald breitere Anlegerkreise das Potenzial der Aktie entdecken, wird es mit aktuellen Kursen vorbei sein und die Aktie in wesentlich höheren Regionen notieren. Nutzen Sie daher Ihre Chance zum Einstieg auf dem aktuellen Niveau um 0,38 Euro!
Universal Property Development & Acquisition Corp.
Frankfurt: WKN A0ETWH
New York: UPDA
Quelle : Nachtrag Trading-Insider / info@trading-insider.com
vom 28.10.2005 um 15:03:15
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The largest asset on Universal’s balance sheet is 1,000,000 shares of convertible preferred B stock of SiteWorks Building & Development Company (OTCBB: SWKJ).
The analyst added:
The company currently is involved in three joint ventures: Canyon Creek Oil & Gas Inc., West Oil & Gas Inc., and Winrock Energy Inc. (Domes Unit).
Unlike several micro cap E&P start ups, Universal Property is not a wildcat player. The company is focused on acquiring proven properties with deep production histories.
Universal’s subsidiaries have started selling oil and gas which should directly improve the company’s financial statements.
Production estimates based upon historical and partial production total millions of dollars per year in revenues.
The company has teamed up with well established partners.
Due to supply worries and energy market volatility, revitalization projects on mature US reserves should remain profitable as crude oil and wellhead natural gas prices are expected to remain above historical levels.
The company reported just over $10,000 in cash as of 9/30/2005, and has reported that $2 million dollars are required to execute its 2006 business plan. Cash flow from operations is projected to be insufficient to support expenditures; the company most likely will issue stock to raise funds.
Dilution is the key risk factor. As of November 1, 2005, UPDA had 23,774,986 shares outstanding. Based on the trading activity since November, we believe this number may be higher, though we could not get confirmation.
An InvestorPower™ page has been created regarding the company at http://www.investrend.com/company/list.asp?sPathParam=yes .
Investrend Research has been the leading independent equity research publishing and distribution program since 1996, with over 75 qualified professional analysts posting more than 1,000 reports to date. Anyone may enroll a company in the Investrend platforms. Enrollment fees for the Target research platform are $5,780, which was paid by Morgan Merchants, a third party. Analysts are paid in advance for their initial reports by Investrend Research to limit or eliminate pecuniary interests, and no one associated with the program may own or trade in the equities of companies under coverage.
The company has also been enrolled in the shareholder-monitoring program by the Shareholders Research Alliance (http://www.shareholdersresearch.com), established to eliminate conflict and bias, and Investrend subscribes to the exacting “Standards for Independent Research Providers” at http://www.firstresearchconsortium.com
Anyone interested in receiving alerts regarding Universal Property research or webcasts should e-mail contact@investrend.com with “UPDA” in the subject line, or click on http://www.investrend.com/contact.asp.
For up-to-the-minute news, features and links click on http://www.financialwire.net
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation for its news or opinions. Other divisions of Investrend, however, provide shareholder empowerment platforms such as forums, independent research and webcasting. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on http://www.investrend.com/contact.asp
The FinancialWire NewsFeed is now available in multiple formats to your site or desktop, free. Click on: http://www.investrend.com/XmlFeeds?level=26
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Monday , January 09, 2006 14:05 ET
JUNO BEACH, Fla., Jan 09, 2006 (BUSINESS WIRE) -- Universal Property Development and Acquisition Corporation (OTCBB:UPDA) has reviewed the independent analyst's report prepared for Investrend and has determined that, although it is substantially accurate, it contains a remarkably significant inconsistency relative to the identification and valuation of UPDA's assets.
As accurately indicated in the report, UPDA and its subsidiaries own oil and natural gas assets in Texas, Utah and Oklahoma with proven reserves valued in excess of $1 Billion as determined by independent certified petroleum engineers. The report continues, however, to provide that: " The largest asset on UPDA's balance sheet is 1,000,000 shares of convertible preferred B stock of SiteWorks Building & Development Company (OTCBB:SWKJ). The company values this position at $1,000,000."
This statement fails to reflect the value of UPDA's oil and gas reserves nor does it account for UPDA's cash investment now approaching $1.5 million in Canyon Creek Oil and Gas, Inc., its Texas subsidiary, or the contribution of hard assets valued at $600,000.00 by USPX, its joint venture partner in Canyon Creek. In fact, the statement is contradicted by the balance of the Investrend report and is provided without context or foundation.
Overall, UPDA is pleased with the content of this independent analyst's report and adopts the preponderance of its assertions. But for the misleading representation concerning the identity and value of UPDA's assets, the report accurately concludes that " Universal Property has accumulated an impressive group of mature US properties with strong production histories." The report also accurately itemizes that:
-- Unlike several micro cap E&P start ups, Universal Property is not a wildcat player. The company is focused on acquiring proven properties with deep production histories. This strategy removes many of the risks associated with other peer companies, and should translate into immediate operational cash flow.
-- Universal's subsidiaries have started selling oil and gas which should directly improve the company's financial statements
-- Production estimates based upon historical and partial production total millions of dollars per year in revenues.
-- The company has teamed up with well established partners such as The Masaood Group, Ltd., Lion Partners Hedge Fund, Optech Limited, and Nice Capital Limited of Admiralty. These partners reach international investors that can provide the financial support necessary to execute Universal's business plan.
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.
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.
SOURCE: Universal Property Development and Acquisition Corporation
Universal Property Development and Acquisition
Corporation
Bradford Moore, 561-630-2977
info@updac.com
Copyright Business Wire 2006
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http://www.marketwatch.com/tools/quotes/...da&sid=2045075&siteid=mktw
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January 10, 2006 (FinancialWire) (Investrend Research Syndicate) In a ResearchNote, the rating for Universal Property Development & Acquistion Corp. (OTCBB: UPDA) has been downgraded from a “No Rating/3” to a “Suspended/1” rating by Investrend Research analyst Daniel Capo, CFA, after the company issued a press release that misled investors about its role in the issued report and contested aspects of the analyst’s report of January 9.
January 10, 2006 (FinancialWire) (Investrend Research Syndicate) In a ResearchNote, the rating for Universal Property Development & Acquistion Corp. (OTCBB: UPDA) has been downgraded from a “No Rating/3” to a “Suspended/1” rating by Investrend Research analyst Daniel Capo, CFA, after the company issued a press release that misled investors about its role in the issued report and contested aspects of the analyst’s report of January 9.
The company’s coverage has also been irrevocably terminated, and Investrend Research will not provide any further research to the company as long as present management and key institutions are associated with it. Separately, questions are also raised about the company’s trading on Friday and Monday.
The company issued a press release contesting aspects of the report without disclosing that the company’s CEO, Kamal Abdullah had signed off on the accuracy of the complete report during the errors and omission’s process.
The analyst also stated:
As part of the normal Investrend research report process, the company was given the opportunity to review the completed report for errors or omissions. The completed report was sent to Universal’s CEO Kamal Abdullah on 12/16/2005. Over 2 weeks later, Mr. Abdullah sent back a email confirming the content of the report as follows:
“Thank you very much for the report, I think you did an excellent job.
My changes are simple
1. The name of our Company in Oklahoma is WinRock Energy Inc which is a joint venture between UPDA and the Lion Partners Hedge Fund.( After you did the report we hired an engineer approved by our bank to do a Reserve Estimates.. The result is over 20 million Barrel of oil in proven reserve - I am sending you the report)
2. The Other Change is the construction contract with have been assigned to D & D Construction Company.
I have been working on Canyon Creek assets namely the Inez Field so far we spent $700,000 and expect to finish it on Wed. As you know this well is capable of generating close to $1,000,000 a month.
I will contact (Investrend) to see If we can release it the week of the 9th.”
In response to the company’s recent press release regarding that the statement “The largest asset on UPDA's balance sheet is 1,000,000 shares of convertible preferred B stock of SiteWorks Building & Development Company” was without context or foundation; the analyst vigorously contests this accusation. This reference to Siteworks and UPDA’s balance sheet can be found on page 14 of the report under the heading “Operating Results for the Months ending 9/30/2005. This information accurately depicts UPDA’s balance sheet as of 9/30/2005 which is presented in UPDA’s most recent 10Q submitted to the SEC, which can also be found on page 18 of the report.
Regarding the statement that the report “fails” to “account for UPDA’s cash investment now approaching 1.5M in Canyon Creek Oil & Gas”; the analyst vigorously contests this accusation. The analyst noted on page 15, that the company had already “paid approximately 50% or $600,000 towards this commitment with Canyon Creek”, which was the amount communicated to the analyst as of the date of the report.
Regarding the statement that the report does not to reflect the value of UPDA's oil and gas reserves”; the analyst vigorously contests this accusation. The analyst dedicated 4 pages of the research report detailing reserve and production estimates given to him by the company on pages 8 – 12; and included the only 3rd party verification the analyst received; by Warpath Energy Inc.”
The full ResearchNote is published at http://www.investrendresearch.com
The January 9 Target report stated that the largest asset on Universal’s balance sheet is 1,000,000 shares of convertible preferred B stock of SiteWorks Building & Development Company (OTCBB: SWKJ).
The analyst added:
The company currently is involved in three joint ventures: Canyon Creek Oil & Gas Inc., West Oil & Gas Inc., and Winrock Energy Inc. (Domes Unit).
Unlike several micro cap E&P start ups, Universal Property is not a wildcat player. The company is focused on acquiring proven properties with deep production histories.
Universal’s subsidiaries have started selling oil and gas which should directly improve the company’s financial statements.
Production estimates based upon historical and partial production total millions of dollars per year in revenues.
The company has teamed up with well established partners.
Due to supply worries and energy market volatility, revitalization projects on mature US reserves should remain profitable as crude oil and wellhead natural gas prices are expected to remain above historical levels.
The company reported just over $10,000 in cash as of 9/30/2005, and has reported that $2 million dollars are required to execute its 2006 business plan. Cash flow from operations is projected to be insufficient to support expenditures; the company most likely will issue stock to raise funds.
Dilution is the key risk factor. As of November 1, 2005, UPDA had 23,774,986 shares outstanding. Based on the trading activity since November, we believe this number may be higher, though we could not get confirmation.
The initial Target report above is also available at http://www.investrendresearch.com
On Friday, January 6, Universal Property Development gained 50.14% on volume of 5,256,962, which was five times its average 1,120,100, to close at $0.2102 on no known news,.although it was touted by two promotional presss releases, one by OTCPicks.com, and the other by OTCStockExchange.com.
Monday, January 9, after the report was issued, the price declined 23.41% on volume of 3,858,400, over three times its average volume, closing at $0.16.
The coverage of Universal Property Development has had previous problems. On November 28, 2005, FinancialWire reported that a fraudulent spam email had misrepresented Investrend Research’s announcement of coverage of the company in a manner that made it look as if a report and rating had already been issued. Earl Adkins, CEO of TurnkeyGold.com, asked authorities to look into who “hijacked” his servers to perpetrate the hoax.
Irate also recipients initially contacted Investrend, since it appeared to some as if Investrend might have sent the email. Even Adkins had initially believed the emails had involved Investrend.
The matter was referred to the U.S. Securities and Exchange Commissoin. Enforcement officials from the SEC subsequently contacted Investrend, but there has been no recent confirmation that anyone is currently under investigation. The SEC usually does not comment on its investigations. There has been no suggestion that the company itself was involved in this episode.
Since accurate third party analysis of a company is a shareholder prerequisite, the company may petition to have the suspension lifted if and when it obtains standards-based, investor-monitored continuing coverage from a different research provider, and the initial report is published.
An InvestorPower™ page has been created regarding the company at http://www.investrend.com/company/list.asp?sPathParam=yes .
Investrend Research has been the leading independent equity research publishing and distribution program since 1996, with over 75 qualified professional analysts posting more than 1,000 reports to date. Anyone may enroll a company in the Investrend platforms. Enrollment fees for the Target research platform are $5,780, which was paid by Morgan Merchants, a third party. Analysts are paid in advance for their initial reports by Investrend Research to limit or eliminate pecuniary interests, and no one associated with the program may own or trade in the equities of companies under coverage.
The company has also been enrolled in the shareholder-monitoring program by the Shareholders Research Alliance (http://www.shareholdersresearch.com), established to eliminate conflict and bias, and Investrend subscribes to the exacting “Standards for Independent Research Providers” at http://www.firstresearchconsortium.com
Anyone interested in receiving alerts regarding Universal Property research or webcasts should e-mail contact@investrend.com with “UPDA” in the subject line, or click on http://www.investrend.com/contact.asp.
For up-to-the-minute news, features and links click on http://www.financialwire.net
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation for its news or opinions. Other divisions of Investrend, however, provide shareholder empowerment platforms such as forums, independent research and webcasting. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on http://www.investrend.com/contact.asp
The FinancialWire NewsFeed is now available in multiple formats to your site or desktop, free. Click on: http://www.investrend.com/XmlFeeds?level=268
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http://www.marketwatch.com/tools/quotes/...da&sid=2045075&siteid=mktw
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Hallo,
vor etwa einer Woche habe ich die " Experten" von Trading INSIDER einmal angeschrieben - die hatten UPDA einst lang und breit analysierend mit 400% Chance empfohlen - , was sie denn von dem katastrophalen Kurs seit ihrer Empfehlung halten. Hier ihre " Antwort" :
Sehr geehrter Herr xxxxxx,
UPDA hat zurzeit mit Problemen mit einem Analystenreport der US-Firma Investrend zu kämpfen, die zum Zeitpunkt unserer Empfehlung nicht absehbar waren. Es geht dabei um Unstimmigkeiten über die Bewertung der Assets von UPDA. Investrend hat negative Presseberichte über UPDA veröffentlicht. UPDA behauptet, dass der Analystenreport wichtige Assets der Firma nicht berücksichtigt. Die negativen Presseberichte von Investrend haben der Aktie von UPDA geschadet. Es bleibt abzuwarten, wie die Sache ausgeht.
Ihre Trading INSIDER Redaktion
Was soll man von dieser " Expertenmeinung" halten - man ist doch wirklich beeindruckt, oder
Schluss der Nachricht
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HOUSTON--(BUSINESS WIRE)--Jan. 12, 2006--
Canyon Creek Oil and Gas, Inc., a joint venture of Universal Property Development and Acquisition Corporation (OTCBB: UPDA) and USProduction and Exploration, LLC. (USPX) reached total depth at its #1 Roberts Unit natural gas well located in the Inez Field, Victoria County, Texas, Tuesday afternoon. Canyon Creek is now setting production pipe to total depth and will commence cementing operations today using BJ Services Company (NYSE: BJS) of Houston, Texas.
Once the pipe is set and the cement has cured, Canyon Creek will perforate the over-pressured Yegua B sand at 8500 feet on Saturday. With additional investment from UPDA, production and surface equipment will be delivered and installed on Monday and the well will be readied for production.
"Even though the cost of the gamma-ray/mwd directional tools and professional services reached $16,000 per day while we were drilling, we are extremely pleased with the outcome," said Donald W. Orr, President of Canyon Creek. "The directional drillers of Gardes Energy Services, Inc. (www.gardesenergy.com) were able to steer the drilling and logging tools within seven feet of the projected bottom-hole location."
Gamma-ray log interpretation provided by Scientific Drilling (www.scientificdrilling.com), a Houston-based international logging company, confirmed the existence of the high pressure Yegua sand at the projected location and mud loggers confirmed the existence of the productive Yegua sand.
"With these logs and the estimated bottom hole pressure of 5000 psi, this well appears to have met all of our expectations," continued Orr. "In addition, with the Duke Energy (NYSE: DUK) sales line only 50 feet from our well head, we will not even need a compressor to put this well on line."
Representatives of UPDA were equally excited by the outcome of this effort. "We have now invested over $1.5 million in this asset," said Chris McCauley, UPDA Vice President. "The success of this project firmly establishes our place in the oil and gas business. With the proven reserves in excess of $1 billion that have been independently certified in the prospects we are working on, our unrelated stock holdings certainly can no longer be called our major asset. I would say the shareholders can look forward to UPDA making oil and natural gas for many years to come.
"The management and board of UPDA will remain focused on our core business and will continue its work to build shareholder value. We have no intention of being diverted from our goals by yellow journalism or tabloid-like news."
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
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin. The Company has also acquired properties located in Inez Field in Victoria County and Giddings Gas Field in Fayette County, Texas. Canyon Creek continues a revitalization program on all of its properties in order to improve production and bring more wells on line.
About USPX
USProduction & Exploration, LLC, an independent production and exploration company located in Sugar Land, Texas, is engaged in the acquisition of oil and gas producing properties with multiple enhancement opportunities. USPX seeks high quality exploration drilling projects in conventional and unconventional reservoirs. The Company's approach to developing depleted reservoirs and unconventional gas is innovative: it combines horizontal, multilateral, with under balanced drilling methods.
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.
Source: Canyon Creek Oil and Gas, Inc.
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HOUSTON--(BUSINESS WIRE)--Jan. 18, 2006--
Canyon Creek Oil and Gas, Inc., a joint venture of Universal Property Development and Acquisition Corporation (OTCBB: UPDA) and USProduction and Exploration, LLC. (USPX) convened an organizational meeting of its Board of Directors on Monday in anticipation the completion of its #1 Roberts Unit natural gas well located in the Inez Field, Victoria County, Texas.
The Board also visited the Roberts well location to personally inspect the on-going operations and meet with site engineers and other professionals. While on location, the well was swabbed and the pipe was flared to demonstrate the surface gas pressure.
During the Board meeting, the members also reviewed the increasing production from its various properties in Palo Pinto, Coleman, Archer and Starr counties in Northern Texas. With additional wells being brought on-line daily, the Board discussed reinvestment strategies and options for continued growth.
The management of Canyon Creek was directed to prepare an expansion plan for presentation to the Board at its next meeting, tentatively scheduled for late February.
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
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin. The Company has also acquired properties located in Inez Field in Victoria County and Giddings Gas Field in Fayette County, Texas. Canyon Creek continues a revitalization program on all of its properties in order to improve production and bring more wells on line.
About USPX
USProduction & Exploration, LLC, an independent production and exploration company located in Sugar Land, Texas, is engaged in the acquisition of oil and gas producing properties with multiple enhancement opportunities. USPX seeks high quality exploration drilling projects in conventional and unconventional reservoirs. The Company's approach to developing depleted reservoirs and unconventional gas is innovative: it combines horizontal, multilateral, with under balanced drilling methods.
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.
Source: Canyon Creek Oil & Gas
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Heute könnte es knallen Big News sind draussen
January 19, 2006 - 9:11 AM
Canyon Creek's Archer County Oil Production Exceeds Projections Exponentially With Each New Well -- Four Additional Wells to Be Producing by End of Week
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
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin. The Company has also acquired properties located in Inez Field in Victoria County and Giddings Gas Field in Fayette County, Texas. Canyon Creek continues a revitalization program on all of its properties in order to improve production and bring more wells on line.
About USPX
USProduction & Exploration, LLC, an independent production and exploration company located in Sugar Land, Texas, is engaged in the acquisition of oil and gas producing properties with multiple enhancement opportunities. USPX seeks high quality exploration drilling projects in conventional and unconventional reservoirs. The Company's approach to developing depleted reservoirs and unconventional gas is innovative: it combines horizontal, multilateral, with under balanced drilling methods.
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.
Universal Property Development and Acquisition Corp.
Bradford Moore, 561-630-2977
info@updac.com
Source: Business Wire (January 19, 2006 - 9:11 AM EST)
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UPDA has more than $1 billion in oil reserves
Representatives of UPDA were equally excited by the outcome of this effort. " We have now invested over $1.5 million in this asset," said Chris McCauley, UPDA Vice President. " The success of this project firmly establishes our place in the oil and gas business. With the proven reserves in excess of $1 billion that have been independently certified in the prospects we are working on, our unrelated stock holdings certainly can no longer be called our major asset. I would say the shareholders can look forward to UPDA making oil and natural gas for many years to come.
market cap only $7 million
UNDERVALUED!!!!!!!!!
bid is going to climb to .24 before open market bet it
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