Research Pit

[Jagman]

UPDA.OB, 78 cent close, only 6 million OS according to Yahoo...
Well looks good, but one never knows how long the production keeps up when revitalized....check the 8-K too:

http://biz.yahoo.com/e/051012/upda.ob8-k.html

West Oil & Gas, Inc. Established for UPDA Joint Venture in Utah -- Gas Production Initiated
Thursday October 13, 7:55 am ET


SALT LAKE CITY--(BUSINESS WIRE)--Oct. 13, 2005--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) has established West Oil & Gas, Inc.(West), a Nevada corporation, as its new subsidiary in connection with its joint venture with Dark Horse Exploration (DHE), Masaood Group and Rene Kronvold for the development of the Dirty Devil Gas Field in Uintah County, Utah.

Revitalization of the initial well, the DD Federal 1-18, has been completed and it has been reported that production has been increased to 3 million cubic feet of gas per day.

"This represents Thirty Thousand Dollars ($30,000) per day of revenue at the conservative rate of $10.00 per mcf," said Byron "Woody" Woodward, President of West. "We anticipate that the other existing wells will also produce that much."

"The revitalization of four more of the existing wells will be completed within two weeks," continued Woodward, "and they will be brought on line as soon as they are ready. The sixth well, the DD State 31-15A, will require installation of new flow lines and some additional equipment. This will be the last well completed. All six will be producing by the middle of November."

"In addition to these vast amounts of natural gas, the DD State 11-29 may produce 250 barrels or more of oil per day according to Woody," said Chris McCauley, UPDA Vice President. "Given the accuracy of his estimates on the 1-18 and his experience with this property, we are very anxious to get this revitalization program completed."

As previously reported, West will drill 80 additional wells in the Dirty Devil Field over the course of the next 2 years. Because DHE has all the equipment necessary to drill these wells, they can be completed on time and under budget.

About Universal Property Development -- www.universalpropertydevelopment.com

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.

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.



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Contact:
Peter Nasca Associates, Inc.
(for Universal Property Development and Acquisition
Corporation)
Peter Nasca, 305-937-1711
[e-mail]