Universal PPTY neu in meinem Depot.
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am besten gefällt mir der Ausblick: 27,5 Mille Cashflow ist nicht schlecht für ne Firma mit nur knapp 4 Mille Marktkapitalisierung
Spass beiseite, wenn du den Bericht liest, wirst du merken, dass nicht alles Gold ist, was glänzt. Aber wir handeln hier ja mit Öl und Gas, und nicht mit Gold...
wie meinst Du das, ernsthaft oder als Gerücht
auf der Seite www.ragingbull.com haben die Mitglieder mit dem Buchhalter von UPDA ("Brad") gesprochen, und das bereits bevor der Bericht erschienen war (Posting war am Freitag). Die Aussagen haben bis jetzt zu 100% zugetroffen. Zudem hat dieser Brad gesagt, dass es News zum Unternehmen erst nach der Veröffentlichung des 10k-Berichts gibt, und dass diese News uns gefallen werden. Als Zeitpunkt wurde Mitte der Woche genannt.
Ich für meinen Teil werde wohl meine Anteile zumindest bis zu diesen "News" halten; dann mal weitersehen. Habe im Moment etwas gemischte Gefühle zu dem Ganzen.
UPDA Board of Directors Reports To Its Shareholders
JUNO BEACH, Fla.--(BUSINESS WIRE)--April 17, 2006--Now that we have filed our annual financial statement and SEC Form 10K-SB, the UPDA Board of Directors, in our continuing effort to be transparent with our shareholders and the public, is pleased to summarize our financial results, report on the state of our subsidiaries and provide insight on our business and the future of our company.
As you may recall, UPDA took its present form as a result of an upstream merger completed in June 2005. A new board and management team was appointed at that time, and a new business plan adopted. Since that date, UPDA has entered five oil and gas joint ventures - Canyon Creek Oil and Gas, Inc., Texas Energy Inc., UPDA Petroleum Trading, Inc., West Oil and Gas, Inc. and WinRock Energy, Inc.
This new board and management team and the new business model have generated financial results that are clear evidence of our commitment to build shareholders\' value. Despite having control for less than eight of the twelve months of 2005, current management was able to grow the assets of the company from $308,000 to over $3,071,000. At the same time, liabilities were decreased by one-third, from $975,000 to $650,000 and the loss per share narrowed from $16.94 to $0.86.
Shareholders\' equity is in the black in 2005 - from a prior deficit of $666,500 to a surplus of $1.8 million - and - for the first time - in 2005, the company reported real revenue from actual operations.
Although we are proud of our efforts, the UPDA board and management is not satisfied. In 2005, we gained valuable experience, established significant relationships and built a solid basis from which we can continue our growth. In 2006, we expect to expand on that base, utilize our relationships and experience and position UPDA for consistent profitability.
As a result of the continuous refinement of our business model, we will achieve our goals through the following established and many other, yet to be created, subsidiaries:
Canyon Creek (CCOG) was formed in July 2005 with three properties in north Texas. As a result funding provided by UPDA, CCOG started production in October 2005 and its portfolio of properties grew from three to seven oil and gas fields. Although there have been limited disappointments, CCOG is now producing, or able to produce, from four of its seven properties. Work continues and we expect CCOG will continue to increase its oil and gas production in the coming weeks and months.
CCOG recently executed a Letter of Intent with Avalon Oil and Gas, Inc. (OTCBB:AOGS) for the sale of a 50% working interest in CCOG\'s Starr County field. For this 50% interest, AOGS has agreed to pay CCOG $75,000 cash and 7.5 Million shares of Avalon common stock (Total value - $750,000). CCOG had originally acquired its 100% working interest in this field for the total sum of $94,000. Although UPDA generally intends to retain all of the properties it acquires, it is apparent from these numbers that this offer could not be ignored.
As for the Inez lease, which must be considered a setback to date, sand was encountered in the B pay zone creating production complications that were insurmountable. We are presently formulating a plan to produce the well from the Yegua A Zone and remain optimistic that this well will generate revenues commensurate with our investment.
Texas Energy Inc. was formed in March 2006 with three properties. As a result of UPDA investments, two of the three fields are partially producing and work over is ongoing.
More significantly, Texas Energy will be reporting the details of another major acquisition shortly.
UPDA Petroleum Trading, Inc. was established in March 2006. While this company is capable of generating income from trading crude, condensate and refined product, the importance of a trading company is to mitigate the risk of fluctuating oil and gas prices. Through this subsidiary, we will balance our ability to deliver product, establish a vertical presence in the industry and exploit a unique international opportunity. Later in the week, UPDA will be reporting additional progress on the organization of this subsidiary.
Although they have encountered unfortunate obstacles to success, we continue to work with our partners in West Oil and Gas Inc. and WinRock Energy, Inc. to commence the business of these two subsidiaries.
The first order of business this year is our intention to add two more units - UPDA Oil Services Company - to perform and manage in-house all of our well workovers, drilling programs and scheduled maintenance - and UPDA Pipelines and Gathering Systems - to exploit the extensive network of gathering systems and pipelines we are acquiring, maximize the return on our investment in those pipelines and gathering systems and generate additional revenues for the company.
In 2006, the Board and the management of UPDA intend to continue aggressive expansion consistent with our established business model. We intend to grow each subsidiary generically and to expand UPDA by adding more subsidiaries. We will continue to surround ourselves with respected oil and gas professionals and to pursue each new source of opportunity. As important, we will continue to establish and refine cost reducing financial controls on our operations and to fine tune our business model and business relationship structures in order to achieve success and build value for our shareholders.
As we look back at our first eight months of operation, we are proud of our financial results, the progress of our business and of our many achievements. As we look into the future, we are confident that UPDA is well positioned to enter its next phase of expansion and to face the challenges of the future.
We take this opportunity to thank our shareholders for your continued support.
UPDA Board and Management
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: Universal Property Development and Acquisition
Corporation
Investor Relations:
Bradford Moore, 561-630-2977
info@updac.com
SOURCE: Universal Property Development and Acquisition Corporation
Fakt ist, dass dieses Unternehmen starke Verluste eingefahren hat und bei einer ungünstigen Entwicklung pleite gehen wird. Jetzt geht es darum, dass jedes Monat genug Öl gefördert werden kann. Ich bin bei dieser Sache sehr skeptisch, aber weiter zuversichtlich, weil Öl zur Zeit sehr gefragt ist.
Positiv finde ich außerdem auch, dass schlechte Neuigkeiten nicht verschwiegen werden.
Tuesday April 18, 8:45 am ET
Acquisition Includes Existing Production and Undeveloped Barnett Shale Prospect
GRAHAM, Texas--(BUSINESS WIRE)--April 18, 2006--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) subsidiary, Texas Energy, Inc., has executed an agreement to purchase over 30 leases, covering approximately 2700 acres in Jack County, Texas. The property, known as the Catlin Oil and Gas Field, contains 64 wells, 12 miles of pipeline and a 70 mile gathering system. In addition, Texas Energy will acquire several pieces of much needed well service equipment including rigs, dozers and graders. This equipment has been internally valued in excess of $1,000,000.00.
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"This acquisition establishes UPDA as a solid presence in North Texas and provides the service equipment we have been seeking so that we can perform our own workovers," said Chris McCauley, UPDA Vice President. In addition, the pipeline and gathering system will allow us to provide the neighboring producers with transportation services so that they can get their product to market. This acquisition has great promise."
In conjunction with this acquisition, UPDA will establish two additional subsidiaries - one to perform all drilling, workover and well maintenance services for UPDA properties in the area and another to market the pipeline and gathering capabilities to neighboring producers. These new subsidiaries will be funded by UPDA and utilize the equipment and pipelines acquired in this transaction.
"Despite the fact that these wells have been substantially ignored since Mr. Catlin passed away three years ago, they still generated in excess of $1,000,000.00 in revenue last year," continued UPDA's McCauley. "As soon as this deal is closed, we will commence a workover program that we expect will greatly enhance the production from the existing wells. After that, we will start a drilling program of relatively shallow wells similar to the 64 existing. At the same time, we will explore deeper drilling in order to exploit the Barnett Shale prospect of the property. If the property does produce from the Barnett Shale as we expect it will, Texas Energy will establish itself as force in North Texas oil and gas.""
An independent reserve analysis performed by Randy Moseley, Certified Petroleum Engineer, in November 2005, estimated that the property, from current production zones, contains reserves of approximately 2,500,000 mcfg and 400,000 barrels of oil. This analysis did not consider the production potential of the Barnett Shale prospect or other multiple pay zones of the property.
In addition to the lease rights, pipeline, gathering system and equipment, Texas Energy also acquired approximately 50 acres of surface rights, 35 of those acres attached to a house on the property and 15 acres involving the shop and equipment field. The total purchase price, including all brokers' commissions and due diligence consultants is $2,300,000.00 and the acquisition is scheduled to close on or before May 23, 2006.
The production from these wells will be reported by UPDA as it continues to update its website at: www.universalpropertydevelopment.com.
klingt doch spitze! Jetzt wissen wir auch, wofür die die ganze Kohle brauchen. Und ich glaube, da kommt noch mehr diese Woche.