Investors Primed for Profits with UPDAs Oil and Natural Gas Extractionadmin
“The Florida-based UPDA (www.updastock.com) is doing its part to help the U.S. become more energy independent by buying and leasing U.S. properties with proven oil reserves, applying state-of-the-art technology, and pumping out sought-after oil and natural gas. “Americans use over 20 million barrels of oil a day, over half of which is imported,” said Abdullah. “That’s why domestic drilling is so important, and why UPDA’s investors are thrilled about their tremendous return on investment.”
The notion that the U.S. must reduce its reliance on foreign oil has reached critical mass, with both the government and consumers aware of the high price of crude and the ongoing conflicts in the Middle East,” said Kamal Abdullah, CEO of Universal Property Development and Acquisition Company (UPDA.OB). The Florida-based UPDA (www.updastock.com) is doing its part to help the U.S. become more energy independent by buying and leasing U.S. properties with proven oil reserves, applying state-of-the-art technology, and pumping out sought-after oil and natural gas. “Americans use over 20 million barrels of oil a day, over half of which is imported,” said Abdullah. “That’s why domestic drilling is so important, and why UPDA’s investors are thrilled about their tremendous return on investment.”
With investor support, UPDA has transformed into a multifaceted organization and has established subsidiaries to function in specific areas of the energy industry: Exploration and Production; Wells Services; Storage Facilities; and Trading. The company pumps the crude by buying land with proven oil reserves or taking over leases of existing abandoned wells and transforming them into lucrative producing wells. “When oil was at $10 a barrel, mom-and-pop operations couldn’t compete with the Saudis, and shut down the wells,” said Abdullah. “Now that the prices have skyrocketed, it’s advantageous to rework those wells. In fact, it’s more economical to rework an existing well than to drill a new well.”
UPDA has gone from producing a few barrels of oil and a few million cubic feet of natural gas per day to over 350 barrels of oil and over 250 million cubic feet of natural gas each day. “Within the next two months, we expect to pump over 1,000 barrels of oil and 500 million cubic feet of natural gas daily,” said Abdullah.
That prospect has investors pumped. “UPDA’s strong valuation, its seasoned scientists and technicians, and its keen acquisition experts all point to a sound investment for penny stock investors,” said UPDA’s Investor Relations Manager Jack Baker.
UPDA’s projects include Canyon Creek Oil and Gas, Catlin Oil and Gas, and West Oil and Gas. “Canyon Creek started with over 60 wells located on more than 2,000 acres in the Fort Worth basin,” noted Abdullah. “Since then, we’ve acquired additional properties that have increases Canyon Creek’s reserves from $35 million to close to $200 million.” Catlin Oil and Gas has more than 60 wells on over 2,700 acres in Jack County, Texas, while West Oil and Gas is in the process of acquiring properties in Utah.
While UPDA won’t eradicate U.S. dependence on foreign oil, increasing production is a step in the right direction. “With approval for drilling in the Arctic National Wildlife Refuge unlikely, and the crumbling of Alaska’s Prudhoe Bay pipeline infrastructure, it’s up to independent producers like us to do our part,” concluded Abdullah. In the process, both U.S. consumers and UPDA investors will reap the benefits.
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be “forward looking statements”. Forward looking statements in this release may be identified through the use of such words as “expects,” “anticipates,” “estimates,” “believes,” or statements indicating certain actions “may,” “could” or “might” occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company’s ability to market its products and services in a competitive environment as well as other factors.