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Thread: UPDA news

  1. Default UPDA news

    his story just gets better all the time. Once oil rebounds upda might get going again.--------------------------------------------------------------Press Release Source: Universal Property Development and Acquisition Corporation

    Natural Gas Pipeline Construction Continues at Catlin Field -- Oil Sales Increase as Additional Wells Turned to Production
    Thursday September 21, 6:00 am ET

    JACKSBORO, Texas--(BUSINESS WIRE)--Sept. 21, 2006--As natural gas pipeline construction continues at the Catlin Oil and Gas field in Jack County, Texas, Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) subsidiary Ambient Wells Services, Inc. has turned additional wells to production.

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    During the past week, nearly 500 barrels of oil have been sold from only 3 of the 32 leases included in the Catlin workover project as Landmark 4, LLC and Rockey Well Services report their successful progression through the field. The pace of the project continues to increase as additional equipment arrives at the site.

    "We are confident we can complete this project within the 60-day bonus period," reports Steve Swain, Landmark field superintendent. "We now have all of our equipment and personnel deployed and intend to work from dawn to dusk seven days a week in order to return this field to full production. The wells we have completed to this point have exceeded even our most optimistic expectations. As we complete the workover of the wells and the repair of the pipeline, the delivery of production will continue to expand."

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    UPDA 1 of the few small oil companys that is bringing up the oil. Im looking for .25 s/t and .50 l/t and alot more in a few years but that all depends on the price of oil. UPDA hit .11 on over 50 mil shares pulling back now where i just added at .104

  4. #4
    Aaronvup Guest


    I bought in at .109, got in a little too early but tired of missing the breakouts haha. Hopefully see a little eod run.

  5. #5
    AaronPaw Guest


    I added at 10.7 and hope to see .62 again and more long term. This is 1 you might want to just put away and trade some too. Was a great trade last time it had a big run. More news was out this morning. -------------------Press Release Source: Universal Property Development and Acquisition Corporation

    Catlin Workover Continues - 8 Wells Completed - Infrastructure Repairs Progressing
    Friday September 22, 11:44 am ET

    JACKSBORO, Texas--(BUSINESS WIRE)--Sept. 22, 2006--As the second week of the Catlin Workover Project closes, Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) subsidiary, Ambient Wells Services, Inc., has directed Rockey Well Service to initiate work on its ninth well and Landmark 4, LLC. continues to complete the repair of roads, flow lines and transmission systems.

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    During this past week, Ambient supervised the testing of several wells that have had new tubing installed, down hole pumps replaced and pumping units repaired. As a result of these tests, the Mathis 1A showed flush crude oil production of 35 bopd.

    "As we progress through the field, each well we work on has shown better than anticipated," reports Gaby Damary, Ambient COO. "As we open the wells, the pressure is strong and steady. Once the equipment and tubing is replaced and the flow lines and sales lines are repaired, we expect to turn them on and let them run. Rockey and Landmark are making impressive progress and we appreciate their professionalism and diligence."



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