Universal Property Development Corporation (fka UPDV)

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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.

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"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)
[e-mail]
http://biz.yahoo.com/bw/070524/20070524005531.html?.v=1