UPDA news

[chinaman711]

Tuesday May 30, 9:25 am ET


MCALLEN, Texas--(BUSINESS WIRE)--May 30, 2006--UPDA Trading, a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News), has finalized the details necessary to commence the importation of petroleum condensate produced in Mexico by Petroleos Mexicanos (PEMEX) (www.pemex.com).
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In order to test the details of the transaction, the first shipment will be limited to 1000 barrels of oil. It will be delivered this week to the UPDA Trading facilities in Brownsville, Texas. UPDA Trading has successfully negotiated with a local refiner to purchase the condensate upon delivery.

"We are very excited about the start of deliveries," said Agustin Soto, a principle of Vala Resources, Inc., UPDA's joint venture partner in this endeavor. "We are looking forward to receiving weekly deliveries of increasing volume from this point forward."

Over the past weeks, UPDA Trading has worked diligently to comply with all the requirements of the various governmental authorities involved and to prepare for the first run shipment.

"According to the corporate offer UPDA Trading received, we will receive weekly shipments of up to 17,000 barrels for a period of one year," added Soto. "We expect to reach this volume as soon as all of the procedures have been tested."

The trading activity of UPDA Petroleum Trading, Inc. will be reported together with all well production at www.universalpropertydevelopment.com.

[Pinguin]

Maybe we can see some of levels seen in Oct.-Nov. of last year.

[chinaman711]

I would be happy with just a move back to .20. Good luck

[Hanger]

Clean out your inbox lol..

[Pinguin]

Well that was rather short lived.

[Mad Girl Investor]

Because this company is diluting shares. They dump almost every day. On another board, there's some guys who call the TA almost daily to see the dump amount.

They raise the pps int he morning, and dump in the afternoon. Its not gonna run til they stop diluting. Im stuck in this crap and not too happy about it.

[Tooty]

I'm wondering if UPDA has some legs now. The charts look pretty good IMO and the recent news sounds like pretty good timing. Well, you never know, but I bought some @.107 anyway. We'll give it try.


Here's todays news:

UPDA Signs Letter of Intent to Purchase 800 Acre Field in Brown County - Ambient Wells Services Subsidiary Completes Assessment of Wells in Coleman County - Prepares to Commence Additional Work to Stimulate Production
Tuesday February 20, 10:55 am ET


DALLAS--(BUSINESS WIRE)--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News; FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1) has signed a Letter of Intent to acquire 3 oil and gas leases in Brown County, Texas from an independent producer in the area.
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The 3 leases, known as the Bowen, the Wilson and the Hampton, consist of approximately 800 acres with 12 wells, 4 of which are currently in production. The properties are less than 20 miles away from the East Hagler and Hagler Capps Lime Fields owned by UPDA's Canyon Creek subsidiary and which have been the subject of a recent site assessment to determine appropriate production stimulation methods that should be applied by UPDA's Ambient Wells Services subsidiary.

Pursuant to the Letter of Intent which provides a closing date of April 15, UPDA will acquire 100% of the working interest in these properties and 80% of the net revenue interest.

Ambient has now completed this site assessment and has delivered to UPDA Operators its recommendations of work necessary to further stimulate production from these oil and gas wells in Coleman County, Texas.

With 8 of the Coleman wells presently generating oil and gas, Ambient will soon complete its work on 2 of the remaining production wells then prepare to apply stimulation technology to the other wells in order to increase production. It has been recommended that each of the wells would respond to further acid treatment and that repair to the pumping units and storage equipment will also enhance results.

Ambient has been directed to initiate this work immediately.

Once this work is completed, it is anticipated that the Brown County acquisition will have closed and Ambient will immediately begin work on the 8 wells in Brown County that are not producing in addition to making recommendations of site locations appropriate for the drilling of new wells on those leases.

[OvrLpdIO]

It's dipped down to $0.078.....good entry or is it going lower?

[istrokedmine]

up 25%- whats going on? any progected price for this puppy?

[istrokedmine]

up 28% today, any 1- 2- month goals for this one?