Universal Property Development & Acquisition Corporation
Pink Sheets: UPDV
Discover why representatives of EOG Resources, Inc. have entered into serious negotiations with Universal Property Development and Acquisition Corporation (Pink Sheets: UPDV) to commence drilling on 13 new Barnett Shale natural gas wells on property owned by UPDA in North Texas.
As announced in May ’09 -- UPDA CEO Tim Brink stated: “EOG has shared their estimated reserve calculations with us and indicate they believe these new wells will produce a minimum of 6.5 million MCF of natural gas. At an average price of $4.00 per MCF, that is at least $26 million in revenue we will be sharing.” Additionally. … “EOG will pay us cash for the acreage, pay all of the expenses for drilling and we [UPDA) will retain an overriding royalty in the production. We will also retain all of the production from our existing wells on the property.”
Click for Quote on OTC: UPDV
EOG Resources, Inc. (NYSE: EOG) is one of the largest independent oil and natural gas companies in the United States.
At year-end 2008, EOG’s estimated net proved natural gas reserves were 7,339 Bcf and estimated net proved crude oil, condensate and natural gas liquids reserves were 225 million barrels for a total of 8,689 Bcfe.
Approximately 71 percent of EOG’s reserves on a natural gas equivalent basis were located in the United States, 15 percent in Canada and 14 percent in Trinidad and less than 1 percent in the United Kingdom North Sea and China.
Our Comments: It may trade on the Pink Sheets, but UPDV has valuable oil and gas properties. After a prolonged quiet period (no news), 4 significant developments have been announced within the last 30 days. Several of these ‘released news bulletins’ point to likely follow up announcements shortly.
Noting such, aggressive investors are encouraged to track potential Universal Property Development & Acquisition Corp. news releases on a daily basis through June.
TheTCS Team
Click for UPDV News Quote Now!
This opinion contains forward-looking statements that involve risks and uncertainties. A company's actual results could differ materially from those described in any forward-looking statements or announcements discussed herein. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. HFC is not a licensed broker, broker dealer, market marker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on www.microcapmoney.com. HFC has been paid a fee of eighteen thousand seven hundred fifty dollars for implementing a multipronged IR campaign featuring Universal Property Development and Acquisition Corporation by a third party. HFC's affiliates, managers, directors and employees may have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value. HFC will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on their own judgment.
