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abracky

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abracky

Re: None

Tuesday, 01/17/2006 11:02:38 PM

Tuesday, January 17, 2006 11:02:38 PM

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As accurately indicated in the report, UPDA and its subsidiaries own oil and natural gas assets in Texas, Utah and Oklahoma with proven reserves valued in excess of $1 Billion as determined by independent certified petroleum engineers. The report continues, however, to provide that: "The largest asset on UPDA's balance sheet is 1,000,000 shares of convertible preferred B stock of SiteWorks Building & Development Company (SWKJ, Trade). The company values this position at $1,000,000."

This is $1 a share.
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