Nice UPDA News:
UPDA News
UPDA Subsidiary Prepares to Commence Sales of Condensate from Brownsville Storage Facility
6:29a ET March 1, 2007 (Business Wire)
Now that US Petroleum Depot, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has filled the first of its four 12,000 barrel storage tanks at its facility located in the Port of Brownsville, Texas it is preparing to initiate sale of the light crude oil it has been stockpiling for the past 2 weeks.
As the final regulatory approvals are obtained, USPD has continued improvements at the facility with the recent installation of new pumps on the 6 and 8 inch pipelines utilized to load the 20,000 barrel barges that will deliver the crude to USPD's customers.
"The facility is ready to go and we expect to receive final regulatory approval so that we can begin sales next week," reports USPD's Agustin Soto. We have trained all of the personnel on the proper procedures for barge loading and with recent increases in the price of crude, our margins continue to expand. Once we make our first delivery, we expect to really pick up the pace."
