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09/18/2007 13:31:24|D||XKEME||Xechem International, Inc. Common Stock|09/19/2007|Failure To Comply With NASD 6530; Added to the Other OTC (XKEM) **|||
How a Reverse/Forward Split Works
Its name describes exactly what it does--a reverse/forward split begins with a reverse split and is immediately followed by a forward split. For example, companies will begin it
with a 1-for-100 reverse split where each 100 shares of
stock that a person owns will be converted into 1 share
of the new stock. Then, they'll be converted right back
into the same form as their original shares via a
100-for-1 forward split.
So if you end up with the same number of shares of
stock at the same price as you did before, why do it?
Well, if you own fewer than 100 shares of stock, you
can't participate in this because you will not qualify for
at least 1 share of the new stock through the first step (reverse split). This means that the company will cash
out any investors who own fewer than 100
shares--meaning you will be given cash in exchange
for your stock.
Arguments for Them
Many companies argue that reverse/forward splits allow them to save money. After all, they will no longer spend time and money mailing out proxies and servicing their smaller shareholders. In fact, Arlington Hospitality estimated that its 2003 reverse/forward split saved it approximately $25,000/year in administrative costs.
Arguments Against Them
Reverse/forward splits have become a relatively contentious topic in finance because of their ramifications: they basically show that small investors don't matter to companies. If every company in the country did this, small investors everywhere would be effectively forced out of their investments. This does not exactly reflect well on a democratic society.
It's important to note that many companies (for example, Disney) appreciate small shareholders and view them as valuable repeat customers. They welcome investors who may only own one share of stock because it creates brand loyalty and gives them a way to keep their customers interested.
In the grand scheme of things, though, these reverse splits don't matter all that much. If you were "cashed out" of your holding, you can immediately repurchase the new shares and get back in. Even though they don't matter all that much, it'll be interesting to see where this new form of stock split goes in the future.
http://www.teenanalyst.com/askus/rfsplit.html
.....this papers have nothing todo with SHARES and with SEC.
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934
Date of Report
September 17, 2007
Commission File No. 0-32893
Cal Bay International, Inc.
(Exact name of small business issuer as specified in its charter)
NEVADA 26-0021800
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
6965 El Camino Real, Suite 150, Carlsbad, CA 92009
(Address of principal executive offices)
(760)-930-0100
(Issuer's telephone number)
Palomar Airport Road, Suite 100, Carlsbad, CA 92011
(Former name, former address and former fiscal year, if changed since last report)
*
Estimated Market Cap
4,123.555 as of Sep 14, 2007
*
Outstanding Shares
41,235,548 as of Sep 13, 2007
*
Authorized Shares
41,235,548 as of Sep 13, 2007
*
Number of Share Holders of Record
169 as of Sep 13, 2007
*
Float
41,235,548 as of Sep 13, 2007
http://www.pinksheets.com/pink/companysearch/index.jsp
Heartland Oil and Gas Corp. Negotiates for Pipeline Extension in Advance of Additional Drilling and Well Completions and Connections
SPRING HILL, Kan., Sep 13, 2007 (BUSINESS WIRE) -- Heartland Oil and Gas Corp. (OTCBB:HTOG) (FWB:HOCA) has negotiated to extend its contract with Double J Pipeline Construction of Baldwin, Kansas in order to connect additional wells to the sales line in its Cherokee Basin Coalbed Methane Field in Southeastern Kansas. In phase one of this project, the pipeline will be extended by 6 miles to connect 18 additional wells, including one of the previously completed wells that has been venting natural gas for over one year.
"With the assistance of Double J and UPDA's Aztec Well Service subsidiary as well as other subcontractors, we expect to permit, drill, complete and connect as many as 5 new wells per week," reports Heartland CEO Steven A. Fall. "Aztec is ready to begin drilling on the 4 sites we recently permitted while our land department finalizes the title work and application process for 5 more. At the same time, our completion contractor is perforating the wells we recently drilled while Double J connects them to the gathering system."
In addition to the work being performed at its Lancaster and Jake Pilots, Heartland is also negotiating with landowners near its Osawatomie and Beagle Pilots in order to obtain rights of way to connect seven more venting wells to the sales line and further develop drilling programs in those areas.
About Heartland Oil and Gas Corp.
In April 2007, Universal Property Development and Acquisition Corporation (OTC BB: UPDA) (FWB: UP1) acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA acquired additional wells and acreage in Palo Pinto County, Texas with current production of approximately 1000 mcfg/day and will soon transfer those wells as well as all of its wells and acreage in Jack County, Texas to Heartland.
For further information, visit www.heartlandoilandgas.com
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
SOURCE: Heartland Oil and Gas Corp.
CONTACT: Heartland Oil and Gas Corp.
Jack Baker (Investor Relations), 561-630-2977
info@heartlandoilandgas.com
Copyright Business Wire 2007
Heartland Oil and Gas Corp Perforates Five Wells and Prepares to Drill Nine Additional Wells in Cherokee Basin Coalbed Methane Field
Last Update: 6:29 AM ET Sep 10, 2007
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BALDWIN, Kan., Sep 10, 2007 (BUSINESS WIRE) -- Continuing the progress of its aggressive drilling program in Kansas, Heartland Oil and Gas Corp. (HTOG:
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HTOG0.99, -0.01, -1.0%) (FWB:HOCA) has perforated the casing of five of the 17 wells it recently drilled in its Cherokee Basin Coalbed Methane Field in Southeastern Kansas. As a result of this work, gas is flowing from several of the wells prior to the fracturing of the reservoirs.
"This flowing gas is obviously a very positive sign," confirms Heartland CEO Steven A. Fall. "While we expect gas to flow once we frac the sands and coal seams, the fact that gas is flowing before stimulation and without de-watering the wells demonstrates significant pressure. From initial results, we expect these first five wells to double our production from this field to over 600 mcfg/day."
While Heartland continues the completion of the 17 newly drilled wells, it has also received permits for 4 more wells and applied for permits for another 5, bringing the total number of wells drilled or to be drilled in that field to 50.
"We are establishing very efficient procedures that will allow UPDA subsidiary, Aztec Well Services, to move forward with the drilling program while additional contractors perform completion procedures and others extend the pipeline and attach the wells to the sales line," continued Heartland CEO Fall. "The activity in the field is very impressive."
In April 2007, Universal Property Development and Acquisition Corporation (UPDA:
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UPDA0.04, +0.00, +2.5%) (FWB:UP1) acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA acquired additional wells and acreage in Palo Pinto County, Texas with current production of approximately 1000 mcfg/day and will soon transfer those wells as well as all of its wells and acreage in Jack County, Texas to Heartland.
For further information, visit www.heartlandoilandgas.com
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
SOURCE: Heartland Oil and Gas Corp.
Heartland Oil and Gas Corp.
Jack Baker (Investor Relations), 561-630-2977
info@heartlandoilandgas.com
Copyright Business Wire 2007 End of Story
http://www.marketwatch.com/news/story/heartland-oil-gas-corp-perforates/story.aspx?guid=%7BEC970C6C%...
Sorry, it's old.
Continental Fuels Continues Capital Improvement Projects at Its Brownsville Storage Facility
PORT OF BROWNSVILLE, Texas, Aug 30, 2007 (BUSINESS WIRE) -- Continental Fuels, Inc. (OTCBB: CFUL) (FWB: CIQB) continues various capital improvement projects at its storage facility at the International Port of Brownsville. While this work progresses, Continental continues the steady flow of light crude condensate sales through the port.
One of the projects that is proceeding is the installation of special floating lids which have been carefully prepared to comply with the regulations of the Texas Commission on Environmental Quality (TCEQ) (http://www.tceq.state.tx.us/). Installation of these specialized lids will allow Continental to store and trade a more diverse family of products with higher Reid Vapor Pressures (RVP) and prevent the evaporation of product from the tanks.
"With these new lids, we will be able to store and trade refined product including gasoline, gasoline blends and diesel," reports Continental CEO Tim Brink. "In addition, no matter what product is in the tanks, these lids will eliminate product loss due to evaporation which will result in significant savings in the South Texas heat of Brownsville."
Construction on the rail spur also continues as anticipated. Ground and foundation work has progressed despite inclement weather and discussions with additional suppliers and customers for this expanded capacity have been productive.
"Like the floating lids, the rail spur will expand our product options as well as provide transportation flexibility and cost reductions," continued Continental CEO Tim Brink. "And we intend to continue to reinvest the expanding profits that will result from these capital improvements."
Continental Fuels, Inc. is a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB: UPDA) (FWB: UP1) (BCN: UP1) (GER: UP1) (MUN: UP1) (STU: UP1).
For further information, please visit www.continentalfuels.com.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
SOURCE: Continental Fuels, Inc.
CONTACT: Continental Fuels
Jack Baker, 561-630-2977
Corporate Communications
info@continentalfuels.com
Copyright Business Wire 2007
-0-
KEYWORD: United States
North America
Florida
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
Utilities
SUBJECT CODE: Product/Service
Heartland Oil and Gas Corporation Completes Testing on Flow Lines and Prepares to Complete and Attach New Wells in Cherokee Basin Coalbed Methane Field
BALDWIN, Kan., Aug 29, 2007 (BUSINESS WIRE) -- Continuing the progress of its aggressive drilling program in Kansas, Heartland Oil and Gas Corp. (OTC BB: HTOG) (FWB: HOCA) has completed the last of the tests required on the recently installed flow lines including pressure checking the connections to the wells. Heartland's pipeline contractor on the project, Double J Pipeline Construction of Baldwin, Kansas, has attached all the flow lines from the new wells to the field lines and back filled the trenches. Cates Surveying provided support for this pipeline project by performing right of way surveys on several locations in the Lancaster Pilot.
This week, cased hole logs are being run on the first eleven of the wells in preparation for the perforating and frac crews to get started this week to complete the wells and attached them to the sales line. Heartland has selected Maverick Stimulation Company from the several completion bids compiled by Aztec Well Services, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB: UPDA) (FWB: UP1), in its role as coordinator of the field program.
Last week, JACAM Chemicals reviewed potential compressor sites to install a salt water treatment pump and took gas and water samples to determine how much chemical would be needed in order to treat the gas before delivery to market. On Saturday, another well location was staked and Heartland started gathering information for title work on the 4 new locations it has staked in preparation for more drilling. Next week, that information will be transmitted to The Miami Title Company in order to confirm lease information.
For further information, visit www.heartlandoilandgas.com.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
SOURCE: Heartland Oil and Gas Corp.
CONTACT: Heartland Oil and Gas Corp.
Jack Baker (Investor Relations), 561-630-2977
info@heartlandoilandgas.com
Copyright Business Wire 2007
-0-
KEYWORD: United States
North America
Kansas
Texas
INDUSTRY KEYWORD: Energy
Coal
Oil/Gas
Other Energy
Natural Resources
Mining/Minerals
SUBJECT CODE: Product/Service
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=htog#openEdgarNews8719344
UPDA Advances Operations and Production at Catlin and Palo Pinto Oil and Gas Fields Slated for Transfer to Heartland
08.28.07
Houston, Texas (August 28, 2007) Consistent with its successful strategy for growth, Universal Property Development and Acquisition Corporation (OTC BB: UPDA) has initiated plans to complete the incubation of its Texas production subsidiary, Catlin Oil and Gas, Inc. in advance of the transfer of its assets to Heartland Oil and Gas Corp. (OTC BB: HTOG).
In the Catlin Field in Jack County, Texas, UPDA installed 2 new 40 HP compressors on its pipeline and increased the amount of gas it is delivering to market by nearly double from 170 mcfg/day to 322 mcfg/day and performed repairs to its disposal well resulting in a savings of almost $10,000 per month in disposal costs.
On Tuesday, Schlumberger will run the cased hole log on the Ruth 10 well after UPDA last week pulled the tubing and prepared the well for testing.
“This log will give us a template to produce additional behind pipe zones in not just the Ruth 10 but also for the many other conglomerate wells we have here in the Catlin Field,” explains Steven A. Fall, the president of both Catlin and Heartland. “It will probably take at least a week before we will have the final computer version of the log, but once we have that, we will start a recompletion program that could significantly improve production. As we proceed toward the successful transfer of UPDA’s oil and gas production assets into Heartland, the condition and operation of these wells and assets is at its highest level and the opportunity for improvement has been designed for execution.”
At the newly acquired natural gas field in Palo Pinto County, Texas, plans are underway for the installation of a disposal well to handle the additional water expected to be produced as those wells are recompleted in the Barnett Shale. As previously reported, the first well recompleted in this program showed an increase in production to about 1000 mcfg/day. After meeting with the consulting engineer on this project, John Evans, management will establish a schedule to provide for the efficient expansion of production from these wells.
http://www.heartlandoilandgas.com/news042324.htm
August 20, 2007 - 5:29 AM EST
UPDA 0.0361 0.00
Today 5d 1m 3m 1y 5y 10y
UPDA Catlin Subsidiary Closes on Acquisition of Oil and Gas Field in Palo Pinto County Texas - Prepares to Transfer Exploration and Production Operations to Heartland
Catlin Oil and Gas, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1) has completed the acquisition of several leases and more than 10 producing wells located in Palo Pinto County, Texas. These wells are currently producing natural gas at a rate approaching 1000 mcf/day. In addition, within the past month, the Barron # 3 well of this field was completed in the Barnett Shale and is flowing to the sales line at approximately 1000 mcfg/day and many of the other wells have been drilled into the Barnett Shale and have shown to be productive from those levels.
This acquisition will include nearly 94% of the working interest in the wells and leases and over 72% of the net revenue interest.
The acquisition is effective for all production generated by the wells since July 1, 2007. The purchase price of $3.6 million cash plus over $250,000 of closing costs included a $3.25 million conventional loan from by Sheridan Asset Management, LLC of White Plains, New York and over $600,000 cash from UPDA.
As previously reported, consistent with UPDA’s plan to streamline all E & P operations into Heartland Oil and Gas Corp. (OTCBB: HTOG) (FWB: HOCA), these wells, together with UPDA’s Catlin Oil and Gas Field in Jack County, Texas, will be transferred to Heartland. Heartland will assume UPDA’s obligations on its loan from Sheridan Asset Management, LLC. as consideration for this transfer which will in turn substantially increase Heartland’s proven reserves and immediately provide over 2000 mcf/day of natural gas production. In addition to this transfer, Heartland Oil and Gas Corp’s wholly owned subsidiary, Heartland Oil and Gas, Inc., will have become authorized to do business in Texas and will be assuming control of well operations from UPDA Operators, Inc., thus completing the transfer of all UPDA exploration and production activities to Heartland.
“The revenue from July’s production will be paid at the end of this month, effectively reducing the purchase price of the Palo Pinto wells by nearly $200,000 based on June’s figures,” reports Heartland CEO, Steven A. Fall. “And that was before we nearly doubled production when the Barron well was completed in the Barnett Shale. At least five more of those wells could show the same production when they are completed in the Barnett. This is a great opportunity for Heartland to expand into Texas, develop a solid base of conventional reserves and generate significant revenues in support of our aggressive coalbed methane programs in Kansas.”
About UPDA
Universal Property Development and Acquisition Corporation www.universalpropertydevelopment.com focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the acquisition and incubation of under-funded energy ventures and cutting-edge technologies. Consistent with this business plan, UPDA has recently acquired majority ownership of two additional public companies, Heartland Oil and Gas Corp. www.heartlandoilandgas.com and Continental Fuels, Inc. (OTCBB: CFUL) (FWB: CIQB) www.continentalfuels.com, and established a private, wholly-owned subsidiary, Aztec Well Services, Inc., thereby expanding its asset base and significantly increasing its sources of potential revenue.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Universal Property Development and Acquisition
Corporation
Jack Baker (Investor Relations), 561-630-2977
info@updac.com
Source: Business Wire (August 20, 2007 - 5:29 AM EST)
News by QuoteMedia
Posting #682
FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------------
FORM 8-K
---------------------
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
COMMISSION FILE NO.: 0-50469
Date of Report: July 1, 2007
GS CLEANTECH CORPORATION
--------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 59-3764931
--------------------------------------------------------------------------------
(State of other jurisdiction of (IRS Employer
incorporation or organization Identification No.)
One Penn Plaza, Suite 1612, New York, NY 10019
--------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(212) 994-5374
--------------------------------------------------------------------------------
(Registrant's telephone number including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
__ Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
__ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
__ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
__ Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.01 COMPLETION OF ACQUISITION OF ASSETS
ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION
On July 1, 2007 GS CleanTech acquired from GS Carbon Corporation all of the
capital stock of GS Carbon Trading, Inc. GS Carbon Trading owns minority
positions in the capital stock of Sterling Planet, Inc., Terra Pass, Inc., Air
Cycle Corporation, General Ultrasonics Corporation and General Carbonics
Corporation.
In exchange for the capital stock in GS Carbon Trading, GS CleanTech
assumed liability to Cornell Capital Partners under certain Convertible
Debentures in the principal amount of $1,125,000 issued by GS Carbon to Cornell
Capital Partners.
GS CleanTech is a subsidiary of GreenShift Corporation, which owned 85% of
the equity in GS Carbon until June 30, 2007. The assignment of debt described
above was a condition to the agreement under which GreenShift divested itself of
ownership of GS Carbon.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
10-a Assignment and Assumption Agreement dated July 1, 2007 among GS CleanTech
Corporation, GS Carbon Corporation and Cornell Capital Partners, L.P.
10-b Convertible Debenture dated February 2007 issued to Cornell Capital
Partners and assumed by GS CleanTech Corporation on July 1, 2007.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: August 16, 2007 GS CLEANTECH CORPORATION
By: /s/ David Winsness
-----------------------------------
David Winsness
Chief Executive Officer
Copyright © 2007 QuoteMedia. All rights reserved. Terms of Use.
Market Data powered by QuoteMedia, www.quotemedia.com, SEC filings by 10kWizard.
August 17, 2007 - 5:29 AM EST
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HOCA N/A N/A
Today 5d 1m 3m 1y 5y 10y
HTOG 1.02 0.00
Today 5d 1m 3m 1y 5y 10y
UPDA 0.039 0.00
Today 5d 1m 3m 1y 5y 10y
Heartland Oil and Gas Corporation Reports Financial Results for Second Quarter 2007
On August 14, 2007, Heartland Oil and Gas (OTCBB: HTOG) (FWB: HOCA) timely filed its 10-QSB (Quarterly Report) with the SEC. Although this report demonstrates significant financial achievements and improvements, it does not yet reflect the expected dramatic impact of the recent acquisition of control of Heartland by Universal Property Development and Acquisition Corporation (OTCBB: UPDA) (FWB: UP1) (BCN: UP1) (GER: UP1) (MUN: UP1) (STU: UP1).
Corporate & Financial Highlights for the three Months Ended June 30, 2007
Total Revenues Increased to $ 125,213 from $ 117,300, an increase of 6.75%
Total Operating Expenses Decreased to $ 512,756 from $ 712,947 a reduction of 28%
Net Loss from Operations Decreased to $ 386,993 from $ 592,817, a reduction of 35%
General and administrative expenses for the three months ended June 30, 2007 were $278,460, compared to $338,429 for the three months ended June 30, 2006. This decrease was a result of reduced labor costs in the amount of $5,081 and an overall reduction of expenses in the amount of $48,883. During the six months ended June 30, 2007 compared to June 30, 2006, expenses were $474,635 and $729,875, respectively. This decrease was a result of reduced labor costs totaling $135,520. An additional reduction in overall administrative expenses resulted in a savings of $119,720 from the previous year.
While the change in management resulting from UPDA’s acquisition of Heartland did produce immediate operational cost reductions, the accomplishments of the aggressive drilling program instituted since that time are not yet reflected in the numbers posted during the second quarter. As previously reported, Heartland will soon bring an additional 17 new wells online and will continue drilling two new wells per week in its Cherokee Basin Coalbed Methane Field in Eastern Kansas. Further, within days, Heartland will complete the acquisition of UPDA’s Catlin Oil and Gas Field in Jack County, Texas and will take control of more than 10 producing wells in Palo Pinto County, Texas.
In anticipation of the acquisition in Palo Pinto County, Heartland authorized the completion of one of the wells into the Barnett Shale pay zone, thereby increasing its production to approximately 1000 mcfg/day. In light of this success, Heartland plans to complete at least six more of those wells into the Barnett Shale by the end of the year and to drill two salt water disposal wells. Heartland has also retained the services of well services giant Schlumberger to assist in its analysis of the Jack County wells with an eye toward recompletion in previously untapped production zones.
“While these numbers show that we have achieved our initial goal of reducing expenses and streamlining operations and that we can approach profitability from current production, we have a specific business plan that we intend to execute into the future. Our focus now is to deliver an increasing amount of natural gas to market,” stated Heartland CEO Steven A. Fall.
For further information, visit www.heartlandoilandgas.com
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Heartland Oil and Gas Corporation
Investor Relations
Jack Baker, 561-630-2977
info@heartlandoilandgas.com
Source: Business Wire (August 17, 2007 - 5:29 AM EST)
News by QuoteMedia
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NEWS!!!
August 13, 2007 - 5:29 AM EST
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HOCA N/A N/A
Today 5d 1m 3m 1y 5y 10y
HTOG 1.14 0.00
Today 5d 1m 3m 1y 5y 10y
UPDA 0.04 0.00
Today 5d 1m 3m 1y 5y 10y
Flow Lines Installed and Bids for Well Perforation and Stimulation Granted for Heartland Coalbed Methane Field in Kansas - Additional Barnett Shale Completions Set for Palo Pinto Field in Texas
The contractor retained by Aztec Well Services, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTC BB: UPDA, UP1.F, UP1.BE, UP1.DE, UP1.MU, UP1.SG) has 90% of the flow lines in the ground and back filled on 5 wells in Heartland Oil and Gas Corp.’s (OTCBB: HTOG) (FWB: HOCA) coalbed methane field located in the Cherokee Basin in Southeastern Kansas.
On Tuesday, August 14, 2007, Double J Pipeline Construction of Baldwin, Kansas will start road bores in order to fuse the newly installed flow lines and pressure check the connections to the Clausen 24-6, Oberheide 14-8, Peckman 11-17, Peckman 41-18, and the Peckman 21-18 wells.
While Aztec continues work on the wells in Kansas, Heartland is also preparing to continue the improvement of its newly acquired properties in Texas. In Palo Pinto County, the Barron #3 was recently completed in the Barnett Shale and is flowing approximately 1 MMcf/d to the sales line. Heartland is making plans to recomplete an additional 6 wells that have Barnett Shale behind pipe and to convert an existing well or drill a new well for disposal of the water being generated.
In Jack County, Texas, Heartland has retained Schlumberger to run a cased hole log in order to help evaluate the potential for production from the Conglomerate Zone of several of its wells in the Catlin Oil and Gas Field it has recently agreed to acquire from UPDA. This work should be commenced within the week, after completion of certain road improvements in the field.
For further information, please visit www.heartlandoilandgas.com
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Investor Relations:
Heartland Oil and Gas Corp.
Jack Baker, 561-630-2977
info@heartlandoilandgas.com
Source: Business Wire (August 13, 2007 - 5:29 AM EST)
News by QuoteMedia
www.quotemedia.com
NEWS!
Press Release Source: Continental Fuels, Inc.
Construction and Installation of Rail Spur and Loading Station Underway at Continental Fuels' Brownsville Facility
Tuesday August 7, 6:29 am ET
PORT OF BROWNSVILLE, Texas--(BUSINESS WIRE)--Continental Fuels, Inc. (OTCBB:CFUL - News; FWB:CIQB)(GER:CIQB)(BCN:CIQB) continues the progress and preparation for construction of a new rail spur and loading station that will be utilized for delivery of light crude condensate to a new customer from its facility at the Port of Brownsville, Texas. The land has been surveyed and materials are being delivered to the construction site daily.
Source: Continental Fuels, Inc.
· Pictured in front of some of Continental Fuel's storage tanks, this first delivery of railroad ties arrived at the Port of Brownsville on August 1, 2007 (Photo: Business Wire). View Multimedia Gallery
As part of its agreement, the new customer to which deliveries will be made through this rail spur has agreed to bear the cost of construction of the spur and loading station. The customer will make payment through a construction escrow account which has been established for the purpose of this project. Although foundation work has been slightly delayed due to unforeseen heavy rains, deliveries to the new customer are still scheduled to begin during the month of August.
"This represents a significant increase in our capacity and will result in a substantial growth in sales," reports Continental CEO Tim Brink. "In addition to the cost of installation of the rail facility, this customer will be paying all of the expenses of delivery so we also expect a greater gross profit and immediate payment for every barrel of condensate we sell them."
Continental Fuels, Inc. is a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News; FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1).
For further information, please visit www.continentalfuels.com.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5466057
Contact:
Continental Fuels
Jack Baker, 561-630-2977
Corporate Communications
info@continentalfuels.com
NEWS!
Press Release Source: Universal Property Development and Acquisition Corporation
UPDA Catlin Subsidiary Set to Close on Acquisition of Oil and Gas Field in Palo Pinto County Texas - Current Production About 1000 mcfg/day
Monday August 6, 6:29 am ET
JACKSBORO, Texas--(BUSINESS WIRE)--Catlin Oil and Gas, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News; FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1) is preparing to complete the acquisition of several leases and more than 10 producing wells located in Palo Pinto County, Texas. These wells are currently producing natural gas at a rate approaching 1000 mcf/day. In addition, many of the wells have been drilled into the Barnett Shale and have shown to be productive from those levels.
ADVERTISEMENT
This acquisition will include nearly 94% of the working interest in the wells and leases and over 72% of the net revenue interest.
"These wells made about 25,000 mcfg in June," reports UPDA Petroleum Engineer Brian Clancy. "That's over $182,000 in gross revenue at current prices. In addition, the logs and tests from the Barnett Shale zones are very promising and with the resources we have available from our Continental Fuels, Inc. (OTCBB: CFUL - News; FWB: CIQB) subsidiary, we are in a very good position to handle the increased liquids that will be generated by producing from the Barnett Shale -- particularly in light of the significant increase in natural gas production we expect to realize from those zones."
The acquisition has a total purchase price of $4.6 million with UPDA contributing $800,000 in restricted common stock and $350,000 cash. The remainder of the cash portion of the price is being financed by Sheridan Asset Management, LLC of White Plains, New York in a conventional 3 year loan.
About UPDA
Universal Property Development and Acquisition Corporation www.universalpropertydevelopment.com focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the acquisition and incubation of under-funded energy ventures and cutting-edge technologies. Consistent with this business plan, UPDA has recently acquired majority ownership of two additional public companies, Heartland Oil and Gas Corp. (OTCBB:HTOG - News; FWB:HOCA) www.heartlandoilandgas.net and Continental Fuels, Inc. www.continentalfuels.com, and established a private, wholly-owned subsidiary, Aztec Well Services, Inc., thereby expanding its asset base and significantly increasing its sources of potential revenue.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Contact:
Universal Property Development and
Acquisition Corporation
Jack Baker (Investor Relations), 561-630-2977
info@updac.com
Source: Universal Property Development and Acquisition Corporation
http://biz.yahoo.com/bw/070806/20070806005344.html?.v=1
Case 07-A-541806-B Status ACTIVE
Plaintiff Granite Pointe Equity Investments LLC Attorney Polednak, Donald T.
Defendant Cal-Bay International Inc Attorney Parry, Stanley W.
Judge Denton, Mark R. Dept. 13
Filed Date 05/24/2007 Closed Date
Last Hear 07/25/2007 For PLTF'S MTN FOR LEAVE TO CONDUCT LIMITED EXPEDITED DISCOVERY/5
Outcome
Next Hear 07/30/2007 at 09:00 AM For MCNAIR'S MOTION TO INTERVENE TO JOIN COMPLAINT /8
Pre-trial Trial
Disposed Disposition
Consolidated
NEWS !!!
http://www.otcbb.com/asp/Info_Center.asp
July 30, 2007 - 5:29 AM EST
Rail Spur Installation at Continental Fuels' Brownsville Facility - Cost to be Borne by New Customer - Additional Storage and Delivery Methods to Result
Continental Fuels, Inc. (OTCBB:CFUL) (FWB:CNDI) (GER:CNDI) (BCN:CNDI) has entered a new agreement for the sale of 40,000 – 60,000 barrels per month of light crude condensate to be delivered via rail. As part of this agreement, this new customer has agreed to bear the cost of construction of a railroad spur and loading station at the Port of Brownsville.
The customer has also purchased 54 rail cars with a capacity of 675 barrels each. These rail cars will be stored at Continental’s facility at the Port of Brownsville, effectively increasing the storage capacity at the facility by another 36,000 barrels. Together with the storage tanks being relocated to Brownsville, Continental will have increased its capacity by over 100% upon completion of these projects within the next 3 weeks.
Work on the rail spur will be immediately commenced. It will service sixteen 60 foot rail cars and the loading station will simultaneously fill 3 at a time. Deliveries to the new customer are scheduled to begin during the month of August.
Continental Fuels, Inc. is a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1).
For further information, please visit www.continentalfuels.com.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Continental Fuels
Jack Baker, 561-630-2977
Corporate Communications
info@continentalfuels.com
Source: Business Wire (July 30, 2007 - 5:29 AM EST)
News by QuoteMedia
www.quotemedia.com
Click on this link http://secretaryofstate.biz/business/
than click on Business Entity Search and write Cal-Bay.
Click on this link http://secretaryofstate.biz/business/
than click on Business Entity Search and write Cal-Bay.
Thank you !
Link ?
Hallo,
where are your facts?
NEWS !!!!
UPDA -- Universal Property Development & Acquisition Corp.
Com ($0.001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
UPDA Board Approves Spin Off to Shareholders - One Share of Continental Fuels, Inc. Subsidiary to be Distributed for Every 50 Shares of UPDA
JUNO BEACH, Fla., Jun 27, 2007 (BUSINESS WIRE) -- The Board of Directors of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1), has approved a resolution to spin off a portion of its holdings in Continental Fuels, Inc. (OTCBB:CFUL) (FWB:CNDI) (GER:CNDI) (BCN:CNDI) to UPDA's common stockholders of record on July 11, 2007, the second anniversary of UPDA's launch as an energy development company.
According to the Board Resolution, one share of CFUL common stock will be distributed to UPDA's common stockholders for every 50 shares of UPDA common stock held. Every UPDA common stockholder will receive at least one CFUL share in this distribution and fractional shares will be rounded up to the nearest whole number. The date of the distribution will be August 1, 2007 to UPDA's common stockholders of record on July 11, 2007.
Although the distributed shares will be restricted from transfer for one year pursuant to SEC Rule 144, UPDA has obtained an opinion that the shares will have no tax consequence to the recipient until they are sold or transferred.
"We have come a long way in just two years and this distribution allows the shareholders to benefit from UPDA's growth in a tangible way," reports UPDA Chairman Kamal Abdallah. "It also allows the Board to underscore the value that the company has been developing since its inception. The spin-off of this portion of CFUL shares represents only about 2% of UPDA's net assets according to an internal review."
About UPDA
Universal Property Development and Acquisition Corporation (OTCBB:UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the incubation and acquisition of under-funded energy ventures and cutting-edge technologies. Consistent with this business plan, UPDA has recently acquired majority ownership of two additional public companies, Heartland Oil and Gas Corporation (OTCBB:HOGC) and Continental Fuels, Inc. (OTCBB:CFUL) (www.continentalfuels.com), and established a private, wholly-owned subsidiary, Aztec Well Services, Inc., thereby expanding its asset base and significantly increasing its sources of potential revenue.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
SOURCE: Universal Property Development and Acquisition Corporation
CONTACT: Universal Property Development and Acquisition
Corporation
Jack Baker (Investor Relations), 561-630-2977
info@updac.com
Copyright Business Wire 2007
-0-
KEYWORD: United States
North America
Florida
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2007%5C06%5C27...
Threshold Security List - Tuesday, June 26, 2007
GSCT GS CleanTech Corporation Commo U Y N
http://www.nasdaqtrader.com/aspx/regsho.aspx
NEWS!!!
CT -- GS CleanTech Corp.
Com ($0.00001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
GS CleanTech Executes Agreement with Ethanol Producer
Company's Technologies Enhance Ethanol Production Efficiencies and Convert Ethanol Co-products into Additional Fuel
NEW YORK, Jun 19, 2007 (BUSINESS WIRE) -- GS CleanTech Corporation (OTC Bulletin Board: GSCT) today announced its execution of an agreement to extract about 7 million gallons per year of crude corn oil from the distillers grain co-product from a new 110 million gallon per year dry mill ethanol plant scheduled to commence operations later this year.
GS CleanTech's patent-pending Corn Oil Extraction Systems(TM) have been engineered to help ethanol producers increase cash flows through the introduction of a third and novel revenue stream - corn oil. GS CleanTech provides turn-key extraction systems to participating ethanol producers at no cost to the ethanol producers in return for the long-term right to purchase the extracted corn oil at a per pound premium to its value when trapped in the distiller's grains. GS CleanTech's extraction technology also reduces overall plant emissions and utility costs by upwards of $1 million per year for a 100 million gallon per year ethanol plant that dries 100% of its distiller's grains.
GS CleanTech's affiliated fuel production company, GS AgriFuels Corporation (OTC Bulletin Board: GSGF) will finance, build and operate a 10 million gallon per year biodiesel facility proximate to the ethanol producer where it will be integrated with GS CleanTech's extraction system to convert the extracted corn oil into biodiesel fuel. This facility, which is scheduled be brought online next year, is expected to be GS AgriFuels' second co-located biodiesel facility. The first is a planned 5 million gallon per year facility that will be located at an ethanol producer in the Midwestern U.S. that has executed an extraction agreement with GS CleanTech and a term sheet with GS AgriFuels for the deployment of GS AgriFuels' co-located biodiesel facility. Both facilities will share utilities with and be managed by their host ethanol producers in return for a management fee.
GS AgriFuels is also in the final stages of contract negotiations to co-locate a third planned facility at an existing 50 million gallon per year ethanol facility in the Midwestern U.S., and is working through a pipeline of several similar agreements. GS AgriFuels expects to have more than 20 million gallons of co-located biodiesel production assets contracted in 2007.
GS CleanTech's publicly announced corn oil contracts will produce about 30 million gallons per year of crude corn oil for conversion into biodiesel fuel as GS CleanTech successfully deploys the relevant corn oil extraction systems during 2007 and 2008.
David Winsness, GS CleanTech's president and chief executive officer said that "Corn-derived ethanol producers clearly recognize the need to improve their energy balance. The surest and quickest way to do this is to implement "plug and play" technologies that enhance the yields and operating efficiencies of traditional production processes. Our corn oil extraction technology is the first of several technologies that we are bringing to market to meet those objectives, including integral biodiesel production, biomass gasification and carbon dioxide capture and conversion technologies."
Tom Scozzafava, GS AgriFuels' president and chief executive officer added "GS AgriFuels' model is to provide 100% of the capital to build both (i) the corn oil extraction and (ii) biodiesel fuel and energy production assets co-located at the ethanol plant. We are seeing a growing acceptance by management teams of these non-intrusive, value-added technologies that bring added cash flows to the ethanol plants without any of the financial risks typically associated with such programs."
GS CleanTech and GS AgriFuels are affiliated companies that have partnered in the full scale commercialization of their technologies. GS CleanTech provides technology-centric services in return for process engineering and plant construction sales, ongoing technology royalties and selected feedstock sales. GS AgriFuels provides all of the capital for the construction of the extraction and production facilities and generates revenues through its ownership of the fuel production assets.
A single 10 million gallon per year corn oil extraction and biodiesel production facility can be expected to result in $24 million in one-time sales and about $1 million per year in royalties for GS CleanTech and, at current market rates, about $28.5 million in annualized biodiesel sales for GS AgriFuels.
Focus on Ethanol Production
GS CleanTech is focused on delivering technologies and process innovations to the ethanol production industry with a view towards maximizing the yield of corn-based ethanol production. GS CleanTech's currently available offerings in its ethanol program include its:
-- Corn oil extraction systems;
-- Small-scale modular biodiesel production systems; and,
-- Biomass gasification for combined heat and power solutions.
GS CleanTech is also developing new technologies, such as its carbon dioxide algal bioreactor technology, for application at ethanol facilities.
Traditional ethanol processing converts each bushel of corn, which weighs about 54 pounds, into about 18 pounds of ethanol, 18 pounds of carbon dioxide, and 18 pounds of distillers dried grains, which contain about 2 pounds of fat. This corresponds to about 2.8 gallons of fuel production per bushel of corn. GS CleanTech's ambition is to increase this efficiency as much as possible by converting as co-products such as DDG and carbon dioxide into additional renewable fuels.
Pictures of a recent GS CleanTech corn oil extraction system installation can be found at http://www.gs-cleantech.com in the Multimedia & Downloads section of the Products & Services section for GS CleanTech's Corn Oil Extraction Systems (http://www.gs-cleantech.com/product_desc.php?mode=1&media=true).
About GS CleanTech Corporation
GS CleanTech Corporation (OTC Bulletin Board: GSCT) provides applied engineering and technology transfer services based on clean technologies and process innovations that make it cost-effective and easy to recycle and reuse resources. Additional information on GS CleanTech's Corn Oil Extraction System and GS CleanTech's ethanol efficiency program is available online at www.gs-cleantech.com.
About GS AgriFuels Corporation
GS AgriFuels (www.gs-agrifuels.com) was founded to produce and sell clean fuels from agriproducts in innovative ways. GS AgriFuels' business model is based on the manufacturing and sales of proprietary biodiesel equipment and the use of new technologies to produce biodiesel and ethanol from non-traditional feedstocks such as corn oil and cellulosic biomass through the utilization of several new proprietary technologies, including innovative desiccation, process intensification, gasification, and catalytic technologies, synergistically at small-scales to enable the refining of many forms of biomass into clean fuels at Integrated Multi-Fuel ("IMF") production facilities.
GS CleanTech and GS AgriFuels are both majority owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a company devoted to facilitating the efficient use of natural resources.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GS CleanTech Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SOURCE: GS CleanTech Corporation
CONTACT: GS CleanTech Corporation
212-994-5374
Fax: 646-572-6336
investorrelations@gs-cleantech.com
www.gs-cleantech.com
or
Investor Relations:
CEOcast, Inc.
Andrew Hellman, 212-732-4300
or
Public Relations:
Walek & Associates
Deborah McCandless, 212-590-0523
Fax: 212-889-7174
dmccandless@walek.com
www.walek.com
Copyright Business Wire 2007
-0-
KEYWORD: United States
North America
New York
INDUSTRY KEYWORD: Energy
Alternative Energy
Oil/Gas
Other Energy
Natural Resources
Agriculture
Environment
Other Natural Resources
SUBJECT CODE: Contract/Agreement
Product/Service
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2007%5C06%5C19...
NEWS !!!!
UPDA Board Updates its Shareholders on Continuing Progress
Tuesday June 19, 10:08 am ET
JUNO BEACH, Fla.--(BUSINESS WIRE)--As Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News; FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1) approaches its second anniversary as an energy company, the Board of Directors is happy to report to our shareholders that the company has made great progress and is in much better shape than it was two years ago.
ADVERTISEMENT
During the past two years, the market cap of UPDA has grown from less than $250,000 to a conglomerate of three public companies with a combined market cap of over $100 million on a fully diluted basis. The aggressive action of the Board has increased UPDA's assets and shareholders' value from deficits to tens of millions.
In July 2005, UPDA was launched with 2000 acres of oil and gas leases and today, with the acquisition of Heartland Oil and Gas Corporation (OTCBB:HOGC - News), the combined companies own close to a million acres in Texas and Kansas.
In order to expand the exploration and production of the acquired acreage, UPDA now owns a drilling and well services company with highly qualified people and equipment capable of addressing all of our field issues.
In February 2007, UPDA commenced trading operations and was importing less than 1000 bbl of condensate per day - today, as a result of the spin-off of the trading and storage facilities to Continental Fuels, Inc. (OTCBB:CFUL - News; FWB:CNDI) (GER:CNDI) (BCN:CNDI), we are importing over 5000 bbl/day.
UPDA is now mainstreaming its businesses into three basic categories. Heartland Oil and Gas is becoming our exploration and production company and it will own and operate all our oil and gas properties. Continental Fuels will be our trading arm, and it will own our port facilities, blending and distribution business. Aztec will be our drilling and well services company.
At this time, UPDA and Heartland have significant oil and gas acreage in three geographic areas: North Texas, Southeast Kansas (the Cherokee basin) and northwest Kansas (the Forest City basin). Working with the management of Heartland, UPDA will soon transfer its existing Catlin and Canyon Creek subsidiaries and assign the proposed Palo Pinto acquisition to Heartland. Heartland's operating arm will also assume control of well management from UPDA Operators.
As part of this consolidation, the management of Heartland has developed a drilling plan for the Cherokee Basin, a workover plan for North Texas and is working on a plan to develop its vast assets in the Forest City Basin.
The management of Continental, in executing its business plan, has reorganized operations, increased condensate (light crude) trading and developed additional supply contacts and further top tier customers. In addition Continental is pursuing the acquisition of oil and gas marketing companies and other operations consistent with its goals.
Aztec Well Service, Inc. is a strategic incubation that will allow UPDA to facilitate and carry out Heartland's drilling and workover programs and compete to provide these services to others. Aztec is currently drilling in Kansas and will soon take over all well service operations in North Texas.
As a parent company, UPDA will continue to provide its subsidiaries with technical, legal, compliance and financial support. In addition, it will aid and facilitate the subsidiaries' acquisition activities. Over the past two years, UPDA has built an infrastructure of very capable talent and established committees to grow the company and its subsidiaries, oversee operations and ensure compliance with expanding regulatory requirements. This infrastructure will also facilitate the incubation of additional energy and alternative energy companies.
The Board of UPDA realizes that these accomplishments were made possible through the support, trust and confidence of our shareholders, as well as through the vision, dedication and the hard work of our employees. We take this opportunity to congratulate you on the success of our company, and to thank all our employees and shareholders for their continued support and assistance.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Contact:
Universal Property Development and
Acquisition Corporation
Jack Baker (Corporate Communications), 561-630-2977
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2007%5C06%5C19...
NEWS!
CBAY -- Cal-Bay International, Inc.
Com ($0.001)(New)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Cal-Bay International Files Lawsuit in Southern California for Recovery of $14M Debt on Florida Land Dispute
CARLSBAD, CA, May 30, 2007 (MARKET WIRE via COMTEX) -- Cal-Bay International, Inc. (PINKSHEETS: CBAY) announced the Company has filed a lawsuit in San Diego County for the recovery of the $14M debt owed to the company from the proceeds of the sale of the West Palm Beach, Florida First trust deed position owned by the company.
Cal-Bay spokesman announced the company has been fighting the case in Mississippi where the case originated; now Cal-Bay council has filed a new lawsuit against the parties involved in San Diego County, California in a serious attempt to resolve the outstanding debt owed to the company.
FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. The Company assumes no obligation to update any of the forward-looking statements in this release.
Contact:
Cal-Bay International, Inc.
Public Relations
(760) 930-0100
Fax: (760) 930-0200
SOURCE: Cal-Bay International, Inc.
Copyright 2007 Market Wire, All rights reserved.
-0-
SUBJECT CODE: Real Estate and Construction:Commercial Real Estate
Real Estate and Construction:Residential Real Estate
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Ciw%5C2007%5C05%5C30...
NEWS!!!!
Continental Fuels Monthly Revenues from Condensate Sales Show 500% Increase to More Than $6 million - New Supplier Expands Deliveries to Over 5000 bbls/day
Thursday May 24, 9:36 am ET
PORT OF BROWNSVILLE, Texas--(BUSINESS WIRE)--With light crude deliveries to its Port of Brownsville storage facilities now exceeding 5000 bbls/day, Continental Fuels, Inc. (OTCBB:CFUL - News; FWB:CNDI)(GER:CNDI)(BCN:CNDI) has increased its sales to 100,000 bbls/month representing a 500% expansion of monthly revenues since its commencement of operations in March.
ADVERTISEMENT
"Our new supplier is delivering a minimum of twenty five 200 barrel trucks every day," reports Continental CEO Tim Brink. "As a result, we will be selling at least one 20,000 barrel barge every week to major oil companies and refiners which, at today's prices, establishes monthly revenues of more than $6 million. In addition, the consistent increase in volume will result in improved margins and a reduction in storage and transportation expenses."
While this increased volume has been accomplished through the exclusive and efficient utilization of the facilities at the Port of Brownsville, the progression of Continental's business plan will accelerate with the anticipated acquisition of the North Texas oil purchasing company that was previously announced. This oil purchasing company, with current annual revenues of $50 million, will provide Continental with a consistent supply of domestic crude as well as the tapping points and relationships to deliver it to market.
"The development of Continental is succeeding precisely as we expected when we acquired the trading and storage units from UPDA (OTC BB: UPDA - News, UP1.F - News, UP1.BE - News, UP1.DE - News, UP1.MU - News, UP1.SG - News)," concluded Continental's Mr. Brink.
For further information, see www.continentalfuels.com.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Contact:
Continental Fuels
Josh Crescenzi, 713-821-1620
(Director Corporate Communications)
info@continentalfuels.com
http://biz.yahoo.com/bw/070524/20070524005531.html?.v=1
CBAY -- Cal-Bay International, Inc.
Com ($0.001)(New)
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934
Date of Report
May 17, 2007
Commission File No. 0-32893
Cal Bay International, Inc.
(Exact name of small business issuer as specified in its charter)
NEVADA 26-0021800
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
6965 El Camino Real, Suite 150, Carlsbad, CA 92009
(Address of principal executive offices)
(760)-930-0100
(Issuer's telephone number)
Palomar Airport Road, Suite 100, Carlsbad, CA 92011
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)
Item 8.01 Other Events
Cal Bay is planning to announce new management and new directors early next week.
The Company is currently relocating its corporate offices and anticipates completed relocation in the first week of June 2007
Currently the Company’s contact information remains the same. The Company remains fully operational and continues to maintain its property portfolio during the transition.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Cal Bay International, Inc.
( Registrant )
Date:May 17, 2007
By: /s/ Roger E Pawson
Roger E Pawson,
DIRECTOR
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001271008%252D07...