Universal Property Development Corporation (fka UPDV)

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July 24, 2008 09:05 AM Eastern Daylight Time
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Heartland Farmout Project Yields Well Producing 65 Barrels per Day in Northern Kansas – Further Drilling on Remaining 500,000 Acres Planned

NEMAHA COUNTY, Kan.--(BUSINESS WIRE)--Heartland Oil and Gas Corp. (OTC BB: HTOG) (FWB: HOCA) was recently informed by its drilling partner that the first well drilled on Heartland’s farmout acreage in Northern Kansas yielded a well producing 65 barrels per day of crude oil. As a result of this success, Heartland has undertaken planning to expand this farmout program and to begin drilling additional wells on the 500,000 acres it has under lease in this area.

“This is obviously a very exciting prospect,” remarked Heartland spokesman Jack Baker. “The discovery of a 65 barrel per day well in the heart of our vast acreage in Northern Kansas establishes great value in that acreage that we intend to aggressively exploit and since many of our leases up there have terms of 5 or 6 years or more, we will have drilling opportunities for many years into the future. Coupled with the successes of our coalbed methane fields in the southern portion of the state, our accomplishments in Kansas seem boundless.”

About Heartland Oil and Gas Corp.

In April 2007, Universal Property Development and Acquisition Corporation (OTC BB: UPDV) (www.universalpropertydevelopment.com) acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA has also established Aztec Well Services, Inc. (www.aztecwell.net) as its wholly owned field services subsidiary. For further information, visit www.heartlandoilandgas.com.

Heartland Oil & Gas Corp. (OTCBB: HTOG) recently received a reiterated “Speculative Buy” from Beacon Equity Research Analyst Victor Sula, Ph.D. The full report is available at http://www.BeaconEquity.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.
Contacts

Heartland Oil and Gas Corp.
Investor Relations
Jack Baker, 561-630-2977
[e-mail]
http://www.heartlandoilandgas.com
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