UPDA: Canyon Creek Continues to Expand Production in North Texas
Friday June 2, 8:30 am ET
HOUSTON--(BUSINESS WIRE)--June 2, 2006--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) continues to receive promising reports from the North Texas properties of its Canyon Creek subsidiary. All of Canyon Creek's Archer county wells except for the West Vogtsberger #11 are now producing oil and gas and on June 5th the Texas Railroad Commission H-5 test will be conducted on that well after which it will be returned to production.
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Loads of oil have been sold off the Block and the Mahler leases and a load will be sold off the East Vogtsberger as soon as a vacuum truck can take two feet of water out of the storage tank, hopefully within a week. The East Hagler lease recently sold a load of oil and will have its gas production restored in the near future. The Hagler Capps field continues producing from its well #21 and additional wells will be brought to production as soon as the packer on the field's injection well is reset.
The production from all of its properties will be reported by UPDA as it continues to update its website at www.universalpropertydevelopment.com.
About UPDA
Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
About CCOG
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin. The Company has also acquired properties located in Inez Field in Victoria County and Giddings Gas Field in Fayette County, Texas. Canyon Creek continues a revitalization program on all of its properties in order to improve production and bring more wells on line.
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
Bradford Moore, 561-630-2977 (Investor Relations)
info@updac.com
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Source: Universal Property Development and Acquisition Corporation
