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I sent an email to FBI, to try and find out if they sized Kamal assests and if the stockholders can make a claim against it. I'll let you know if FBI answers back. In mean time, everyone else shold also ask the FBI the same question.
Good Luck
Good luck. There may be a long line:
Seiden admitted on the stand he turned to securities crime after his career as a licensed stockbroker went up in flames because he used drugs that got him higher than the price of the penny stock he was pushing.
They included "marijuana, cocaine, Percocet, Loricet, OxyContin, Roxicodone, acid, mushrooms, ecstasy, Soma, Xanax, " according to his testimony.
He also admitted that he sold pot in college.
Cool story, Bro! - Plot's 'pump' chumps
By MITCHEL MADDUX
Last Updated: 4:40 AM, March 1, 2011
Posted: 1:59 AM, March 1, 2011
http://www.nypost.com/p/news/local/plot_pump_chumps_xRgtZN4Q9720X0P26dng0L
Some of the city's top investment houses were duped by a bold pump-and-dump stock scheme whose mastermind enlisted a failed stock trader to pretend to work for hedge funds -- and then place orders for 223 million shares of a virtually worthless penny stock for the funds, according to startling testimony.
Kamal Abdallah, the owner of the company that issued the stock, is on trial in Brooklyn federal court for securities fraud.
The trader he hired, Eric Seiden, now a government witness, was apparently an excellent actor.
Seiden admitted on the stand that he managed to convince executives at major investment firms, including Cantor-Fitzgerald and Dinosaur Securities, that he represented funds that were suddenly hungry to purchase stock in Abdallah's energy and oil-exploration company, Universal Property Development & Acquisition Corp.
Those orders, Abdallah hoped, would boost the price high enough to allow him to sell his own stock at a profit, prosecutors said.
He believed the price would go even higher when other traders saw the buy orders on real-time financial information systems and buy the stock themselves -- thinking they were getting in on a hot-moving stock.
The scheme was uncovered when the hedge funds realized they had millions of shares in their portfolios that they'd never ordered and called the FBI.
The duped investment firms took the hit.
It was not immediately clear how much money was involved.
Seiden admitted on the stand he turned to securities crime after his career as a licensed stockbroker went up in flames because he used drugs that got him higher than the price of the penny stock he was pushing.
They included "marijuana, cocaine, Percocet, Loricet, OxyContin, Roxicodone, acid, mushrooms, ecstasy, Soma, Xanax, " according to his testimony.
He also admitted that he sold pot in college.
mmaddux@nypost.com
http://www.nypost.com/p/news/local/plot_pump_chumps_xRgtZN4Q9720X0P26dng0L
The board defintely need to read this for any oil stock!!!!!!
New drilling method opens vast oil fields in US
http://finance.yahoo.com/news/New-drilling-method-opens-apf-2851595693.html?x=0&sec=topStories&pos=main&asset=&ccode=
A new drilling technique is opening up vast fields of previously out-of-reach oil in the western United States, helping reverse a two-decade decline in domestic production of crude.
Companies are investing billions of dollars to get at oil deposits scattered across North Dakota, Colorado, Texas and California. By 2015, oil executives and analysts say, the new fields could yield as much as 2 million barrels of oil a day -- more than the entire Gulf of Mexico produces now.
This new drilling is expected to raise U.S. production by at least 20 percent over the next five years. And within 10 years, it could help reduce oil imports by more than half, advancing a goal that has long eluded policymakers.
"That's a significant contribution to energy security," says Ed Morse, head of commodities research at Credit Suisse.
Oil engineers are applying what critics say is an environmentally questionable method developed in recent years to tap natural gas trapped in underground shale. They drill down and horizontally into the rock, then pump water, sand and chemicals into the hole to crack the shale and allow gas to flow up.
Because oil molecules are sticky and larger than gas molecules, engineers thought the process wouldn't work to squeeze oil out fast enough to make it economical. But drillers learned how to increase the number of cracks in the rock and use different chemicals to free up oil at low cost. "We've completely transformed the natural gas industry, and I wouldn't be surprised if we transform the oil business in the next few years too," says Aubrey McClendon, chief executive of Chesapeake Energy, which is using the technique.
Petroleum engineers first used the method in 2007 to unlock oil from a 25,000-square-mile formation under North Dakota and Montana known as the Bakken. Production there rose 50 percent in just the past year, to 458,000 barrels a day, according to Bentek Energy, an energy analysis firm.
It was first thought that the Bakken was unique. Then drillers tapped oil in a shale formation under South Texas called the Eagle Ford. Drilling permits in the region grew 11-fold last year.
Now newer fields are showing promise, including the Niobrara, which stretches under Wyoming, Colorado, Nebraska and Kansas; the Leonard, in New Mexico and Texas; and the Monterey, in California.
"It's only been fleshed out over the last 12 months just how consequential this can be," says Mark Papa, chief executive of EOG Resources, the company that first used horizontal drilling to tap shale oil. "And there will be several additional plays that will come about in the next 12 to 18 months. We're not done yet."
Environmentalists fear that fluids or wastewater from the process, called hydraulic fracturing, could pollute drinking water supplies. The Environmental Protection Agency is now studying its safety in shale drilling. The agency studied use of the process in shallower drilling operations in 2004 and found that it was safe.
In the Bakken formation, production is rising so fast there is no space in pipelines to bring the oil to market. Instead, it is being transported to refineries by rail and truck. Drilling companies have had to erect camps to house workers.
Unemployment in North Dakota has fallen to the lowest level in the nation, 3.8 percent -- less than half the national rate of 9 percent. The influx of mostly male workers to the region has left local men lamenting a lack of women. Convenience stores are struggling to keep shelves stocked with food.
The Bakken and the Eagle Ford are each expected to ultimately produce 4 billion barrels of oil. That would make them the fifth- and sixth-biggest oil fields ever discovered in the United States. The top four are Prudhoe Bay in Alaska, Spraberry Trend in West Texas, the East Texas Oilfield and the Kuparuk Field in Alaska.
The fields are attracting billions of dollars of investment from foreign oil giants like Royal Dutch Shell, BP and Norway's Statoil, and also from the smaller U.S. drillers who developed the new techniques like Chesapeake, EOG Resources and Occidental Petroleum.
Last month China's state-owned oil company CNOOC agreed to pay Chesapeake $570 million for a one-third stake in a drilling project in the Niobrara. This followed a $1 billion deal in October between the two companies on a project in the Eagle Ford.
With oil prices high and natural-gas prices low, profit margins from producing oil from shale are much higher than for gas. Also, drilling for shale oil is not dependent on high oil prices. Papa says this oil is cheaper to tap than the oil in the deep waters of the Gulf of Mexico or in Canada's oil sands.
The country's shale oil resources aren't nearly as big as the country's shale gas resources. Drillers have unlocked decades' worth of natural gas, an abundance of supply that may keep prices low for years. U.S. shale oil on the other hand will only supply one to two percent of world consumption by 2015, not nearly enough to affect prices.
Still, a surge in production last year from the Bakken helped U.S. oil production grow for the second year in a row, after 23 years of decline. This during a year when drilling in the Gulf of Mexico, the nation's biggest oil-producing region, was halted after the BP oil spill.
U.S. oil production climbed steadily through most of the last century and reached a peak of 9.6 million barrels per day in 1970. The decline since was slowed by new production in Alaska in the 1980s and in the Gulf of Mexico more recently. But by 2008, production had fallen to 5 million barrels per day.
Within five years, analysts and executives predict, the newly unlocked fields are expected to produce 1 million to 2 million barrels of oil per day, enough to boost U.S. production 20 percent to 40 percent. The U.S. Energy Information Administration estimates production will grow a more modest 500,000 barrels per day.
By 2020, oil imports could be slashed by as much as 60 percent, according to Credit Suisse's Morse, who is counting on Gulf oil production to rise and on U.S. gasoline demand to fall.
At today's oil prices of roughly $90 per barrel, slashing imports that much would save the U.S. $175 billion a year. Last year, when oil averaged $78 per barrel, the U.S. sent $260 billion overseas for crude, accounting for nearly half the country's $500 billion trade deficit.
"We have redefined how to look for oil and gas," says Rehan Rashid, an analyst at FBR Capital Markets. "The implications are major for the nation."
Associated Press writer James MacPherson contributed reporting from Stanley, N.D.
maybe we are back in the game
don´t know for sure, but there is a possibility that UPDA is on the way to a merger with Exterra.
this was the first try
MAJORITY WRITTEN CONSENT
OF
THE STOCKHOLDERS
OF
UNIVERSAL PROPERTY DEVELOPMENT AND ACQUISITION CORPORATION
The undersigned, being a majority of the stockholders of Universal Property Development and Acquisition Corporations (the "Corporation"), a Nevada corporation, acting in lieu of a meeting pursuant to Section 78.320 of the Nevada Revised Statutes ("NRS"), do hereby consent to and adopt the following resolutions as if taken at a duly held meeting of the stockholders of the Corporation:
WHEREAS, pursuant to the organizational documents of the Corporation, a Board of Directors (the “Board”) consisting of three members must be selected, and
WHEREAS, there currently exists two (2) vacancies on the Board, and
WHEREAS, the shareholders whose signatures are attached hereto have concluded to appoint the following individuals to the Board, it is hereby
RESOLVED, that, pursuant to section 78.330 of the NRS, Mr Robert Royal and Mr. Todd Royal are hereby elected as members of the Board of the Corporation effective as of the date of the execution of this Consent of Stockholders by the holders of a majority of the outstanding common stock of the Corporation and that as of such date Mr. Royal and Mr. Royal shall be authorized to act on behalf of the Corporation in such capacity; and be it further
RESOLVED, that such members shall serve as members of the Board of the Corporation without compensation but shall be held harmless and indemnified by the Corporation for any and all lawful action that they take or decisions they make in such capacity; and be it further
RESOLVED, that any action heretofore taken and all other documentation heretofore delivered by the officers or directors of the Corporation in furtherance of the foregoing resolutions be, and such actions hereby are, authorized, approved, ratified and confirmed in all respects.
Signature page to follow
IN WITNESS WHEREOF, the undersigned have executed this Written Consent as of the ____ day of September 2009.
NAME SHARES
__________________________ ________________________
Print Name:
-------
Dear UPDA Shareholders -
While we greatly appreciate the confidence that you have shown in your attempts to appoint us to the Board of Directors of Universal Property Development and Acquisition Corporation, we regret to inform you that the current management of UPDA has refused to acknowledge that appointment, claiming that they have amended the By Laws of the company in order to limit the rights of the shareholders to make such appointment. While we strenuously disagree with their contentions and doubt their authenticity, we have been advised by our attorneys that we cannot enforce our appointment to the Board without the institution of legal action that would be time consuming and extraordinarily expensive for both us and the company. As such, we have no alternative but to report to you that we will not be accepting your appointment of us to the Board of Directors and we will, rather, restrict our efforts to the ongoing development of Exterra Energy, Inc. (OTC BB: EENI).
Although we will not be taking our seats on the Board of UPDA, we remain sympathetic to the plight in which you, the shareholders of UPDA, presently find yourselves. In our investigation of the companies affiliated with UPDA including Continental Fuels, Heartland Oil and Gas and Geer Tank Trucks, we were most frustrated to discover that they were subject to numerous lawsuits and we were informed by the attorney that represents them and claims to sit on their boards that the companies and the current management are also subject to criminal investigation and have already had assets seized by Federal Law Enforcement Authorities. Mr. Saunooke also informed us that they (he and Mr. Brink as the alleged members of the Board of Directors of UPDA), had stripped UPDA of all of its assets, transferring them to Continental Fuels in a transaction that, in our opinion, appears questionable at best.
Finally, Mr. Saunooke refused even to provide us with any documentation relative to his claims so we cannot even report to you that we are certain that any of his claims are true. It was our sincere hope and belief that we may have been able to rescue the companies from their catastrophic circumstances but given the refusal of Tim Brink, the CEO of the companies, and Robert Saunooke, his attorney, to recognize our appointment, we have no alternative but to withdraw from the situation.
Should you decide that further action is warranted, please be advised that we are prepared to cooperate with you and we will provide you with any information that is available to us. We certainly wish you and the companies the best of luck and we deeply regret that Mr. Brink and Mr. Saunooke refused to allow us to utilize our resources to assist them.
Robert and Todd Royal
now EENI brings out this news
Exterra Energy Inc. Signs Letter of Intent to Merge with Industry Partner
FRIDAY , JANUARY 14, 2011 09:22 AM
AMARILLO, Texas--(BUSINESS WIRE)-- Exterra Energy Inc. (OTCBB: EENI) announced today that the company has signed a Letter of Intent to merge with an Industry Partner. The terms and conditions of this merger will be disclosed when the Company announces the Definitive Agreement which is expected to be announced in the very near term.
Management is eager to close this transaction because of the synergistic opportunity the combined companies represent increasing the portfolio of assets and cash flow.
Exterra will be enhancing its management team by adding a highly skilled individual with over 40 years of experience in the Oil and Gas space. His most recent Major Oil company experience was with Exxon Oil Company as a top executive.
The CEO of the Industry Partner stated, "We are pleased to be able to reach this agreement and feel that the combined companies will open up much larger opportunities in the oil and gas space for the new company."
Current Exterra management welcomes the depth and breadth of knowledge and experience that this individual carries to help guide and direct the future path of the company.
Todd Royal, CEO/President of Exterra, commented, "This planned merger of the two companies will bring an additional 5MM Barrels of Proved Reserves along with an increase over current production of more than 140 barrels per day. This enhancement of resources will add to shareholder appreciation as well as give the combined company some attractive financing opportunities."
Commenting further, Mr. Royal said, "This acquisition cements management's plan to grow with Proven Developed Producing (PDP) assets, thus increasing revenues, net earnings and shareholder value."
About Exterra Energy, Inc.
Exterra Energy, Inc. (OTCBB: EENI) is an emerging oil and gas exploration production company based in Amarillo, Texas, with a Field Office in Parker County, Texas. Exterra is committed to a strong acquisition strategy purchasing producing oil properties that are undervalued due to current market conditions. Exterra is primarily active in the development, acquisition and operations of oil & gas properties. Please visit our web site at www.exterraenergyinc.com.
Safe Harbor
Statements about the company's expectations, including revenue and earnings and all other statements in this press release, other than historical facts, are "forward-looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.
Source: Exterra Energy, Inc.
Redstone Communications, LLC
Investor Contact, 317-337-1800
Tarwc@aol.com
http://finance.yahoo.com/news/Exterra-Energy-Inc-Signs-bw-2868978989.html?x=0&.v=1
mark mcbryde is the operator of EENI and runs also the wells of UPDA
it is only a possibility, but some points fit. maybe someone can bring in his dd to confirm that.
http://www.pinkinvesting.com/article/view/Heartland-Oil-Gas-Corp.-HTOG.PK-Silenced-By-The-Ghost-of-Criminal-Past
Heartland Oil & Gas Corp. (HTOG.PK) Silenced By The Ghost of Criminal PastHeartland Oil and Gas Corp. (PINK:HTOG) was born to life in 1998 in order to devote itself to the exploration and development of oil and gas properties. According to the official data, in 2007 Universal Property Developments and Acquisition Corporation (UPDV) acquired a 52% interest in HTOG, which in 2008 had subsequently decreased to 16% due to a reverse stock split and a couple of additional transactions.
Unfortunately, later on, instead of bringing progress, the acquisition by UDPV brought havoc to HTOG. In Aug. 2009, Kamal Abdallah, president of UDPV, was arrested by the FBI on allegations of conducting a pump and dump scheme of UPDV stock. In the mean time, another subsidiary of UDPV was put under investigation about a major petroleum theft scandal. Eventually, Abdallah was prohibited from becoming a head of any public company and from offering of penny stock.
According to forum discussions, Abdallah had managed to swindle $27 million from HTOG, which subsequently devastated the company. As a result HTOG has been reduced to to a sub-penny stock, and has been hiding from the public for more than a year now.
Recently, some indications of excitement have embraced HTOG stock, which was most probably due to the rumors of a forthcoming acquisition. However, the lack of any tangible evidence to testify the rumors renders the notion of the company's take-over a sheer mirage.
The disheartened HTOG investors, who would catch at any straw like a drowning man, got fascinated by the idea of a possible merger. But the truth is that the company has suffered a major blow to its image and since then had subsided into dead silence. And based on this fact there is absolutely no possibility of predicting the fate of HTOG, at least not until it gets the courage to speak to the public.
Has anyone had any luck on finding a way to get our moneys from these crooks
Business
http://www.pr-inside.com/universal-property-development-and-r2311795.htm
"Universal Property Development and Acquisition Corporation (UPDV) - Financial Review" Published
Print article
Refer to a friend
2010-12-17 05:32:11 - Recently published research from GlobalData, "Universal Property Development and Acquisition Corporation (UPDV) - Financial and Strategic Analysis Review", is now available at Fast Market Research
Universal Property Development and Acquisition Corporation (UPDA) is a Florida based energy company. The company is engaged in acquisition, production, development, storage, distribution of oil and natural gas. UPDA operates as a holding company and holds controlling interests in six energy businesses. The company operates through six subsidiaries, which are Canyon Creek Oil & Gas, Inc., Catlin Oil and Gas,
Inc., Aztec Well Services, Inc, UPDA Operators, Inc., Heartland Oil & Gas Corp, and Continental Fuels, Inc. The company's areas of operations are across the Jack County, Palo Pinto County, Dallas county, Coleman County, Bexar County, Harris County, Cameron County in United States.
This comprehensive SWOT profile of Universal Property Development and Acquisition Corporation provides you an in-depth strategic analysis of the company's businesses and operations. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company's key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better.
This company report forms part of GlobalData's 'Profile on Demand' service, covering over 50,000 of the world's leading companies. Once purchased, GlobalData's highly qualified team of company analysts will comprehensively research and author a full financial and strategic analysis of Universal Property Development and Acquisition Corporation, including a detailed SWOT analysis, and deliver this direct to you in pdf format within two business days. (excluding weekends).
The profile contains critical company information including,
* Business description - A detailed description of the company's operations and business divisions.
* Corporate strategy - Analyst's summarization of the company's business strategy.
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* Company history - Progression of key events associated with the company.
* Major products and services - A list of major products, services and brands of the company.
* Key competitors - A list of key competitors to the company.
* Key employees - A list of the key executives of the company.
* Executive biographies - A brief summary of the executives' employment history.
* Key operational heads - A list of personnel heading key departments/functions.
* Important locations and subsidiaries - A list and contact details of key locations and subsidiaries of the company.
* Detailed financial ratios for the past five years - The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
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HEY WHY MEIL!!! how the heck are you. refer back to my post #10171 and yours #10200....pretty much sums it up here...i just happened to check out this board, haven't in quite some time...this was one of those penny stocks that i was lucky enough to get out of after years of big losses [not to your extent]and be able to break even ...yes i still dabble with penny stocks..one being [sgcp]...look into that one...its got a great group of guys there...if you care too you can email me at ohyeah029@yahoo....best to you and your family and have a safe and happy holiday season....keep in touch.
I did not write off UPDV. The unique diff of UPDV is that it actually owns 52% of HTOG and with HTOG convertable bonds it increase its hold to 70%. So even though UPDV is no longer traded, ownership is still there which means UPDV has assets. I own all together 550,000 shares of UPDV. Hey maybe you and I can get together, with our shares combined, write a letter to SEC and see if we can take controll of UPDV. After all a good case can be made that the current officers are inept for not following SEC guide lines.
It means you write off whatever UPDV you owned as a loss. I can tell you everything you need to know about losing money in UPDV (I lost $19,202 with these crooks in ). But you'll find that it's a pretty typical outcome when messing around with penny stocks.
But then I never learn. I just bought 400,000 shares of CCTR today @ $0.0025 each. I hope to sell them all at a nickle apiece LOL.
Hey slob, if you're reading this, how have you been doing lately? I hope you and your family had a good Thanksgiving holiday. Are you still playing around with penny stocks like me? Hopefully you didn't give up on them and maybe had a winner or two since we last posted.
I actually made some decent money on SNEY over the past few weeks. Bought it at $0.0067 and sold it @ $0.014 after it popped then got the hell out. Going to try to parlay a grand of that win with CCTR. A 10 or 20 bagger there would be nice. Don't think I'll bet $25K in it like I did with UPDV though. How's that saying go? Something like hogs get fed but pigs get slaughtered?
interesting article for everybody to know
http://finance.yahoo.com/news/GOP-victory-could-boost-apf-3659732978.html?x=0&sec=topStories&pos=4&asset=&ccode=
GOP victory could boost natural gas drilling
GOP victories in Pa. and Washington could boost natural gas drilling; friendlier climate seen
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FILE - In this Oct. 29, 2008 file photo, the drilling rig for a natural gas well into the Marcellus Shale is seen behind a foundation for equipment that remains on site after the well is tapped in Houston, Pa. The Republicans' big Election Day victories in Pennsylvania and on Capitol Hill could mean an early Christmas for the drilling companies that are rushing to exploit the Marcellus Shale, one of the biggest known natural gas deposits in the nation. Republican Gov.-elect Tom Corbett is a lot friendlier to the industry than outgoing Democrat Ed Rendell. (AP Photo/Keith Srakocic, File)
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Symbol Price Change
COG 35.14 +0.42
{"s" : "cog","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Marc Levy, Associated Press, On Thursday November 11, 2010, 1:57 pm
HARRISBURG, Pa. (AP) -- The Republicans' big election victories in Pennsylvania and on Capitol Hill could be Christmas-come-early for the drilling companies that are rushing to exploit the Marcellus Shale, the biggest known deposit of natural gas in the nation.
Republican Gov.-elect Tom Corbett is seen as a lot friendlier toward the industry than outgoing Democrat Ed Rendell, who has clashed with natural gas companies over both taxes and tougher new clean-water regulations.
Also, the GOP takeover of the U.S. House will almost surely doom efforts in Congress to impose federal regulation over gas drilling.
Among many Republicans, there is elation. GOP strategist Karl Rove told participants in an oil and gas industry conference in Pittsburgh last week that they can now expect "a period of sensible regulations."
"As a signal, is it good? Yes," said a more cautious-sounding William Garner, a Houston lawyer and former investment banker who specializes in the natural gas industry. "But will it make a difference? Time will tell."
Among other things, the incoming governor opposes any attempt to slap a gas-extraction tax on the industry. Pennsylvania is the largest gas-drilling state without such a tax, and Rendell tried and failed to persuade the Legislature to approve one. Corbett has also said he will lift Rendell's executive order preventing the issuing of any more drilling leases in state forests.
A drilling boom has been under way since 2008 in the Marcellus Shale, a vast underground geologic formation that extends from West Virginia and eastern Ohio through Pennsylvania into southern New York. Some geologists estimate it could yield enough natural gas to supply the entire East Coast for 50 years.
Its huge commercial potential was underscored earlier this week when oil giant Chevron struck a $4.3 billion deal to buy Atlas Energy, a major Marcellus Shale driller.
Combining a new process of horizontal drilling with a technique known as hydraulic fracturing, or fracking, drillers are unlocking vast deposits there and in other formations around the U.S. such as the Barnett Shale in Texas -- a boom that could ensure cheap and plentiful natural gas for many years to come for homeowners, factories and power plants.
The drilling frenzy in the Marcellus Shale is also credited with enriching landowners and pumping new life into trucking companies, short-line railroads, quarries and steel-pipe makers, as well as the restaurants and hotels hosting out-of-state drilling crews. An industry-financed study by Penn State projected that the boom would generate tens of thousands of jobs and hundreds of millions of dollars in state and local taxes in the coming years.
However, the use of fracking -- in which millions of gallons of water, sand and toxic chemicals are injected into each well to break apart the shale and release trapped gas -- is raising pollution concerns across the Northeast.
While the industry maintains that fracking has been proved safe over the decades, homeowners are coming forward with tales of wells producing brown, foul-smelling water or water polluted with methane and chemicals.
In the northeastern Pennsylvania town of Dimock, a hotspot of Marcellus Shale exploration, some residents no longer use their polluted well water and can light their taps on fire because of methane they say seeped into their wells because of drilling.
The Rendell administration intends to bill Houston-based Cabot Oil & Gas Corp. the $12 million cost of installing a water line to serve 14 families in Dimock. Cabot denies the methane is connected to its drilling.
The gas drilling business got what it wanted in the election of Corbett, who received nearly $1 million in donations from the industry. Among his first actions this week was to name Christine Toretti, a national GOP committeewoman and owner of a Pennsylvania drilling company, as co-chair of his transition team.
Without giving specifics, Corbett on Wednesday promised a "reasonable" regulatory stand that protects the environment. He will be able to appoint a new head of the Department of Environmental Protection, which under Rendell has tried to aggressively deal with the problems brought by the gas rush.
"I look at this as an industry that's going to be here long after all of us in the room are gone," Corbett said. "It is going to be a great industry and we need to develop it properly. We need to develop it protecting the environment and growing jobs in Pennsylvania."
Congress exempted fracking from federal clean water regulations in 2005, but some lawmakers have been pushing to undo that.
Sen. Bob Casey, D-Pa., sponsor of a measure that would subject fracking to regulation by the Environmental Protection Agency, predicts a bleaker landscape now for his bill.
"If anything, there are more votes against it," he said Tuesday.
Whether events ultimately unfold to the industry's liking remains to be seen.
The election doesn't affect a web of state and federal regulatory bodies that could stand in the way of drilling, industry analysts said. The EPA, for example, could try to regulate fracking without congressional approval.
Rolf Hanson of the Associated Petroleum Industries of Pennsylvania, an industry lobbying group, said: "I for sure don't see this as, 'All of a sudden things are going to be rosy for the industry and we're going to get a free pass.'"
It's been delisted a long time ago.
Fill a "worthless securities" form with your broker and take the loss. That way you save any fee to sell it. The stock was 100% scam as was CFUL.
If you could get the stock certs, they make great coasters and conversation pieces for your coffee table. If you got enough, you could wallpaper your bathroom with them.
Their uses are endless.
Let's keep looking at the pluses.
ok,...? Okay!!!
I would join a lawsuit as well. These crooks stole our money.
I've lost more than $80,000.00 and would join a class action to recover my money
I'm also interested in pursuing a class action suit. If anyone has started this process already please indicate so. I would like to know what Tim Brink, Kamal Abdalah, and any other current or former execs are doing, where they are hiding, if they are being investigated by the SEC - if anyone knows please reply. I have lost considerable amount of money in this stock and am very interested in recovering as much as possible.
All Kamal knows is how to rip off investors. Once a crook always a crook. He'll get his hand slapped and move on to yet another scam.
you tell me how you plan on doing that and I will support you 100%
Has this just died ??? Has everyone just gave up ?? I would love to get my money out of these fools instead of making us one !!!
You can't just call him up. You have to file a complaint on line (Go to SEC and look for "Investors on Line Complain"). Tell them that you want to speak to some one (or try asking for Bob Green) about UPDV and what recourse does investors have. Leave your phone number and someone will get back to you within 24 hours.
Thats how I did it.
What we need is a lawyer who is willing to take case probono.
Does anyone know of such a lawyer.
is there a phone # to Bob Green of the sec, i'd like to call him and speak to him myself. also does he have an email address ? thanks
Form 8-K for EXTERRA ENERGY INC.
27-Jul-2010
Other Events
Item 8.01 Other Events.
On July 21, 2010 Exterra Energy, Inc. (the "Company") as Plaintiff filed a petition in the 108th Judicial District Court in Potter County, Texas, cause number 98817-E, naming A.M. Financial Services, Citibank, N.A., Ismail Ismail Abdul Fatah, Kamal Z. Abdallah, Abeir Samad, Christopher J. McCauley, and Administrative Outsource Services, Inc. as Defendants. The petition alleges the Defendants engaged in statutory fraud and conversion in connection with the Company's issuance in August and September, 2009 of a total of 5,000,000 shares of its common stock and seeks the return of those shares as well as monetary damages. On July 22, 2010 the Company obtained a Temporary Restraining Order in that litigation against the Defendants trading or transferring 4,300,000 of the Company's shares as 700,000 shares have been returned. A hearing on the Company's Application for Temporary Injunction is scheduled for August 5, 2010.
Spoke to Bob Green of SEC this morning. He stated that UPDV can still trade on the pink sheets. He also stated that they are looking into HTOG, also for non filing since 2008. However it is up to us stock holders to take law suit out against Kamal and MGT to get HTOG away from them. In mean time SEC will continue to investigate HTOG and will most likely also pull the registration for non filing. It looks like were on our own, does anyone know an attorney?
Exterra Energy Claims Fraud, Seeks to Recover Shares Worth $6.8M - cbl
By citybizlist Staff
AMARILLO -- Exterra Energy Inc. (OTCBB: EENI) said it is evaluating legal options to reclaim shares worth $6.75 million that it issued to three entities, including one in Qatar, in exchange for an allegedly fraudulent pledge to liquidate the company's debt totaling $593,000 and reinvest $3 million in the oil and gas explorer, according to an SEC filing.
The Amarillo-based company alleged fraud by Kamal Abdallah and his associate Christopher McCauley who last year agreed to assume Exterra's debt to Coventry Capital LLC in exchange for the company's shares. Also, under an agreement signed in September, the two individuals agreed to reinvest $3 million in Exterra's preferred shares.
However, the Coventry debt has not been liquidated, and the $3 million investment has failed to materialize, Exterra said. The company said the two individuals had returned 700,000 of the 5 million shares it had issued to entities controlled by Abdallah and McCauley. Exterra said it is evaluating legal options to recover the rest.
Exterra first issued 500,000 shares to Atlas General Partner LLC and Administrative Outsource Services Inc., companies controlled by Abdallah, in exchange for a pledge to pay 20 percent of the Coventry debt. Later, Exterra issued 4.5 million shares to AM Financial Services, of Doha , Qatar , in exchange for a pledge to liquidate the Coventry debt and also reinvest $3 million in Exterra's preferred stock.
Exterra's potential loss of $6.75 million is based on the stock's closing price Thursday of $1.35.
Form 8-K filing: http://tinyurl.com/256rs5j
Bio from Exterra's Web site:
Todd R. Royal
President and CEO
Todd R. Royal, age 37, is and has been since its founding in 1995 the President and Director of Royalco. Mr. Royal is a Texas Tech University graduate with significant experience in marketing and public relations. Mr. Royal is not currently serving on the board of directors of any publicly traded companies, Mr. Royal is Robert Royal's son.
Posted: July 8, 2010
I'll give a dollars to get some answers. Please post those webs sites!
Welcome to our government system, The only way to get a human response is to attach your question to a campaign contribution, as little as a $1 works for these weasels, their websites sort emails based on "constiuent" or "donor", don't you feel well represented now?
Has anyone been able to talk to a state rep or someone with the sec to see what recourse we have-all i get is recordings
Iam out 1500.00 please keep everyone posted if there is a way to get our money out of these fools
Hello,
I sent an email to the SEC attorney in New York yet have recieved no reply; can you please inform me if there are other gov officials whom shareholders can contact to try and get back monies we lost to updv crooks?
HTOG web site list UPDV as a Sub of HTOG?
SEE this web site:
http://www.manta.com/c/mmdcrzx/heartland-oil-gas-corp
Look on lower left hand side of page.
yes I would love to but I don't know how haha.
I would like to also. In another stock I own, there is a group of investors who retained a law firm to also start a class action law suit. I looking to sign up, I also asked for them to contact me as to who the lawers are so that I can call them to see if they are interested in UPDV as well. I'll let you know once I hear word.
Oddly on HTOG (Sub of UPDV) there is a group of investors increasing their holdings to make a take over attempt before SEC revolks their registration as well.
I'd like to start a class action lawsuit against these people on here that run companies and their CEO's names into the drain.
Please print the phone number you called
called company receptions said no one in office to call back in the morning she knows nothing about delisted
Soke to Sec. of State in NV. UPDV has not filed with them either for past two years also. NV will also be pulling their registration in near future.
Does anyone know if there are any law suits against MGT and UPDV?
I just called SEC, they said 1) It's up to MGT to File or 2) MGT can decide to start a new company with UPDV assets with or without keeping it's share holders? This doesn't sound right to me. I called and left a message for TIM (772)-370-3116 to get back to me. I think everyone else should also. Is anyone starting a law suit out against UPDV and MGT. I would like to be included.
SEC also told me to get intouche with "Attorney Generals Office of Nevada" (Where UPDV is incorporated. I called and left a message with and investigator (Mr. Borland 775-684-5708) to get back to me. I recommend everyone else also call. Lets get them on our side and force them to take the matter up for us stock holders.
Last I know UPDV still owned oil fields in Texas and elsewhere.
Death !
adfvn .com
UPDV USOTC : Universal Property Development and Acquisition Corporation Common Stock (Delisted, unavailable)
ow that UPDV registration was revoked, what happens to us? Does anyone know?
Called my stock broker:
SEC removed there registration for non filing of 10Q and 10K.
This means stock can't be traded until thibgs are settled with SEC. Anybody want to start a class action suit against UPDV?
not yet, thanks will look into the info, good luck !!
Well it looks to me that UPDV has been delisted as of today, anyone else see this?
etrade will not let me sell either got this message: No results were found for UPDV
This is not good, I put a sell order in and got a call from my broker that this stock has a hold on it and my sell order was canceled, I dont know how shares were traded yesterday but as of this morning im told its not trade able
Administrative Proceedings: 34-62245 Jun 9, 2010 Universal Property Development & Acquisition Corp.
http://www.sec.gov/litigation/admin/2010/34-62246.pdf
http://www.sec.gov/litigation/admin.shtml
ORDER MAKING FINDINGS AND REVOKING REGISTRATION BY DEFAULT
use your head...it was only one trade that amounted to about $175 less commissions. just someone probably trying to stir the pot...good luck
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06/27/08 header , graphics by Durkkdiggler
UPDA is a publicly funded energy development company that targets projects with high net revenue potential, where risk has been substantially reduced by meticulous technical evaluation and scientific investigation.
Our primary goal is to identify underdeveloped energy resources and technologies, achieving substantial growth with efficient maintenance techniques and innovative technological applications.
UPDA's expertise, implemented with strategic partnering, insures high returns on investment and substantial cash flow.
UPDA operates as a holding company that provides funding to develop proven energy reserves and cutting edge technologies. Through this business model, UPDA is able to expand its portfolio of assets and broaden its base of knowledge and experience.
By exhibiting our creativity and balancing a tolerance for risk along with a relentless pursuit of efficiency, we maintain a corporate culture that values originality and invention while developing essential, long-term relationships through honesty, trust and integrity.
SUBSIDIARIES:
Canyon Creek Oil & Gas, Inc.
Catlin Oil and Gas, Inc.
Aztec Well Services, Inc
UPDA Operators, Inc.
Heartland Oil & Gas Corp
http://www.heartlandoilandgas.com/
Continental Fuels, Inc.
http://www.continentalfuels.net/index.htm
Website:
http://www.universalpropertydevelopment.com/investor.htm
UPDA Operators, Inc.
Company Information
Universal Ppty Dev And Acqu
Suite 209 14255 US Highway 1
Juno Beach FL 33408
http://www.updac.com
Phone: (561) 630-2977
Fax: (561) 630-2241
Company Officers:
Said Abdallah, COO
Steven Fall, Chief Geologist
Kamal Abdallah, President, CEO
Steve Barrera, Regional Manager
Brad Moore, VP Human Res.
Christopher McCauley, Vice President, Legal Counsel
Estimated Market Cap:
$83,448 as of Oct 21, 2008
Outstanding Shares
119,210,748 as of May 12, 2008
Authorized Shares
950,000,000 as of July 22, 2008
Number of Share Holders of Record
416 as of Apr 21, 2008
Transfer Agent:
Integrity Stock Transfer
3027 East Sunset Rd.
Las Vegas, NV 89120
Investor Relations Firm
Administrative Outsource Services, Inc.
14255 U.S. Highway 1
Suite 209
Juno Beach, FL 33408
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=updv
http://www.universalpropertydevelopment.com/upda.htm
UPDA Operators, Inc. ("UPDA-OI"), a Nevada corporation, was formed in 2006 as a wholly-owned subsidiary of UPDA. UPDA-OI is certified by the Texas Railroad Commission as an operator of oil and gas wells and acts as operator of all of the UPDA leases in the state of Texas. UPDA-OI employs the personnel that engage in the managerial and administrative activities that are necessary to operate the oil and gas wells owned by Canyon Creek Oil and Gas, Inc. and Catlin Oil and Gas, Inc. UPDA-OI provides operational, geological, engineering, legal and land management services and handles accounting and bookkeeping activities necessary to commercially operate the exploration and production assets of the company in the state of Texas. By centralizing these operations in UPDA-OI, UPDA takes advantage of economies of scale, maximizes the productivity of employees and avoids duplicative costs and activities.
ADDING:
Company Description
Universal Property Development and Acquisition Corporation was incorporated in the State of California in 1982. The Company is engaged in oil and natural gas acquisition, development and production, with activities currently in Texas. The Company's focus will be on developing its existing properties, while continuing to pursue acquisitions of oil and gas properties with upside potential. The Company operates as a holding company which operates through the formation of joint ventures with other entities in the oil and natural gas acquisition, development and production industry. The Company currently is joint venture partners in three joint ventures through which it has operations in the states of Texas. Through the formation of joint ventures, the Company has been able to expand its portfolio of assets, enlarge its base of operations and hire, or otherwise engage individuals with industry knowledge and experience. The Company's current operating joint ventures are Canyon Creek Oil & Gas, Inc., West Oil & Gas, Inc., Winrock Energy, Inc., Texas Energy, Inc. and UPDA Petro Trading, Inc. The Company has a portfolio of oil and natural gas reserves, with approximately 5% of its proved reserves consisting of oil and approximately 95% consisting of natural gas. Approximately 52% of the Company's proved reserves are classified as proved developed producing, or PDP. None of its proved reserves are classified as proved developed non-producing, or PDNP, and approximately 48% are classified as proved undeveloped, or PUD. The Company principally sells its oil and natural gas production to end users, marketers and other purchasers that have access to nearby pipeline facilities.
Canyon Creek Oil & Gas, Inc.
http://www.universalpropertydevelopment.com/canyon.htm
Canyon Creek Oil & Gas Inc. ("CCOG"), a Nevada corporation, was formed in July 2005 for the purpose of acquiring certain currently producing oil and gas properties, low risk drilling prospects and existing oil and gas wells on properties in several locations in the State of Texas. CCOG holds the leases to approximately sixty (60) oil and gas wells located on more than 2,000 acres in North Texas. CCOG also holds leases on oil and gas properties located in Archer, Palo Pinto, Young, Victoria and Coleman County, Texas. CCOG is pursuing a revitalization program on some of its properties in order to improve production and profitability and to bring more wells on line. CCOG owns a 100% working interest in all the wells covered by its leases.
Catlin Oil and Gas, Inc.
http://www.universalpropertydevelopment.com/catlin.htm
Catlin Oil & Gas Inc. ("Catlin"), a Nevada corporation, was formed in 2006 for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing oil and gas wells in Jack County, Texas. Catlin holds the leases to approximately sixty-five (65) oil and gas wells located on more than 3,000 acres. Catlin is currently pursuing a revitalization program on all of its leases in order to improve production and profitability and to bring more wells on line and may expand its operations in Northern Texas as additional acquisitions in that area become available.
Aztec Well Services, Inc.
http://www.universalpropertydevelopment.com/aztec.htm
Aztec Well Services, Inc. is a Nevada corporation formed in conjunction with UPDA’s acquisition of control of Heartland Oil and Gas Corp. Aztec is a wholly owned subsidiary of UPDA performing all of the drilling and well service functions for the UPDA exploration and production subsidiaries. Aztec is currently drilling wells in the Cherokee Basin Coalbed Methane Field in Eastern Kansas owned by Heartland Oil and Gas Corp. and will soon become authorized to do business in the state of Texas and begin work on the leases and wells owned by Catlin Oil and Gas and Canyon Creek.
http://www.beaconequity.com/reports/htog <<<>>> profiling for HTOG is one for UPDV in reality.
Heartland Oil & Gas Corp.
http://www.universalpropertydevelopment.com/heartland.htm
Heartland Oil and Gas Corp. (OTC BB: HTOG) is an oil and gas exploration and production company and a subsidiary of Universal Property Development and Acquisition Corporation (OTC BB: UPDA). On September 27, 2004 Heartland completed the acquisition of the Forest City Basin and Bourbon Arch assets from Evergreen Resources, Inc. for a purchase price of $22 million. The Forest City Basin assets consisted of all of Evergreen Resources, Inc.’s interest in all its oil and gas leases covering an aggregate of approximately 766,000 acres located in the State of Kansas, together with 60 well bores and all surface equipment, gathering and surface facilities and all geological, engineering, land and accounting data and records pertaining to these leases and assets.
Prior to its acquisition of the assets from Evergreen Resources, Heartland had interests in leases covering approximately 252,000 acres in central Kansas (the “Soldier Creek project”). Heartland owns 100% of the working interest in all of these leases with a net revenue interest of approximately 85%.
After the acquisition of the Evergreen assets, Heartland held in excess of 1 million acres of prospective CBM leases at various stages of development, 88 wells, including 43 CBM wells in eight pilots that were dewatering and/or venting gas, 37 CBM wells awaiting stimulation, and 8 saltwater disposal wells.
On April 20, 2007, UPDA acquired approximately 52% of the common stock of Heartland and nearly $5,000,000 of its debt in a cash and stock transaction. Since that time, Heartland has undertaken an aggressive drilling program in its Cherokee Basin Coalbed Methane Field in Southeastern Kansas and acquired about 75 producing wells in Northern Texas. As a result of the conversion of that debt into Heartland preferred stock, UPDA now controls over 70% of the voting stock of Heartland.
On April 23, 2007, UPDA and the Issuer closed a business combination transaction pursuant to the terms of a Stock Purchase Agreement (the “SPA”) dated April 20, 2007. Pursuant to the SPA, UPDA transferred one hundred percent (100%) of the capital stock of two of its subsidiaries, US Petroleum Depot, Inc. and Continental Trading Enterprizes, Inc. (the “Subsidiaries”), to the Issuer in exchange for 50,000 shares of the Issuer’s Series A Convertible Preferred Stock and a promissory note payable by the Issuer in the amount $2,500,000. The Preferred Stock was convertible into 500,000,000 shares of the Issuer’s common stock on the closing date and UPDA has the right to vote the shares of Preferred Stock on an “as converted” basis in any matters for which the holders of the Issuer’s common stock are entitled to vote. On April 22, 2008, the Issuer had 149,815,833 shares of common stock issued and outstanding. As of that date UPDA had the power to control the vote of approximately 77% of the Issuer’s voting capital stock. The issuance of the Preferred Stock to UPDA constituted a change of control transaction for the Issuer, as UPDA owns a majority of its outstanding voting capital stock.
Continental Fuels, Inc
continentalfuels.net/index.htm.
Continental Fuels, Inc. (OTCBB: CFUL) is a publicly traded company with an emphasis on nationwide distribution and retail gasoline operations, as well as international sourcing, marketing, and distribution of upstream and downstream petroleum products.
Continental Fuels is headquartered in Houston, TX.
http://www.universalpropertydevelopment.com/continetal.htm
www.geertanktrucks.com/
BEACON RESEARCH---http://beaconresearch.com
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000923771&owner=include&count=40
2008 current filings:
Items 1 - 40 Form Formats Description Filing Date File/Film No
10-Q [html][text] 592 KB Quarterly report [Sections 13 or 15(d)]
Acc-no: 0001297077-08-000069 (34 Act) 2008-05-20 000-25416
08849618
NT 10-Q [html][text] 20 KB Notification of inability to timely file Form 10-Q or 10-QSB
Acc-no: 0001297077-08-000063 (34 Act) 2008-05-15 000-25416
08838541
8-K [html][text] 18 KB Current report, item 4.02
Acc-no: 0001297077-08-000060 (34 Act) 2008-05-12 000-25416
08821692
8-K [html][text] 27 KB Current report, items 8.01 and 9.01
Acc-no: 0001297077-08-000059 (34 Act) 2008-05-12 000-25416
08821104
8-K [html][text] 27 KB Current report, items 8.01 and 9.01
Acc-no: 0001297077-08-000058 (34 Act) 2008-05-12 000-25416
08820207
8-K [html][text] 58 KB Current report, items 1.01 and 9.01
Acc-no: 0001297077-08-000057 (34 Act) 2008-05-12 000-25416
08820192
4 [html][text] 9 KB Statement of changes in beneficial ownership of securities
Acc-no: 0001297077-08-000044 2008-04-21
10KSB/A [html][text] 1 MB [Amend]Optional form for annual and transition reports of small business issuers [Section 13 or 15(d), not S-B Item 405]
Acc-no: 0001297077-08-000043 (34 Act) 2008-04-21 000-25416
08766244
SC 13D [html][text] 35 KB General statement of acquisition of beneficial ownership
Acc-no: 0001297077-08-000041 (34 Act) 2008-04-17 005-59581
08760731
10KSB [html][text] 952 KB Optional form for annual and transition reports of small business issuers [Section 13 or 15(d), not S-B Item 405]
Acc-no: 0001297077-08-000040 (34 Act) 2008-04-15 000-25416
08758061
NT 10-K [html][text] 18 KB Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405
Acc-no: 0001297077-08-000027 (34 Act) 2008-03-31 000-25416
08724064
8-K [html][text] 160 KB Current report, items 2.01 and 9.01
Acc-no: 0001297077-08-000024 (34 Act) 2008-03-07 000-25416
MISSION STATEMENT:
UPDA is a publicly funded energy development company that targets projects with high net revenue potential, where risk has been substantially reduced by meticulous technical evaluation and scientific investigation.
Our primary goal is to identify underdeveloped energy resources and technologies, achieving substantial growth with efficient maintenance techniques and innovative technological applications. UPDA's expertise, implemented with strategic partnering, insures high returns on investment and substantial cash flow.
UPDA operates as a holding company that provides funding to develop proven energy reserves and cutting edge technologies. Through this business model, UPDA is able to expand its portfolio of assets and broaden its base of knowledge and experience.
By exhibiting our creativity and balancing a tolerance for risk along with a relentless pursuit of efficiency, we maintain a corporate culture that values originality and invention while developing essential, long-term relationships through honesty, trust and integrity.
Historical chart for us:
Historical LT Chart:
History often repeat itself - $538,339.--/sh??? -
well, in this case it would be very nice pleasure -
spec. for all oldtime LT shareholders!!!
UPDV`s OWNERSHIP in CNFU shares: 82.41%!!! Here`re the LINKS:
http://www.sec.gov/Archives/edgar/data/923771/000129707708000080/0001297077-08-000080-index.htm
http://www.sec.gov/Archives/edgar/data/859365/000129707708000080/cnfu-sched13d_071508.htm
sydneypeakoil.com/peak_oil_clock/
sydneypeakoil.com/phpBB3/index.php
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Eagle Ranch discussion site:
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Ted Butler silver commentary archive:
http://www.investmentrarities.com/
Conspiracy World: A Truthteller's Compendium of Eye-Opening Revelations and Forbidden Knowledge
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