Press Release Source: Universal Property Development and Acquisition Corporation
UPDA Subsidiary Ambient Wells Services Prepares to Implement Expanded Business Plan - Considers Proposals for Oil and Gas Well Production Enhancement Projects
Monday February 5, 9:32 am ET
JUNO BEACH, Fl.--(BUSINESS WIRE)--As Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News; FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1), continues the development of its four revenue generating business sectors, its Ambient Wells Services subsidiary is considering various proposals to provide well production enhancement services to third party operators. Upon determination of its paramount opportunity, Ambient will position itself as another source of revenues while expanding its expertise for the benefit of UPDA's oil and gas production subsidiaries.
ADVERTISEMENT
Under consideration are opportunities to provide capillary injection equipment technologies and coil tubing technologies designed to maximize well production. At the request of various operators prepared to contract for these services, Ambient is prepared to acquire the necessary equipment in order to expand as directed.
"We are moving forward with these well services offerings as instructed by the management of UPDA," explains Gaby Damary, COO of Ambient. "The opportunities in the well services sector are certainly available and the only question is which opportunity provides the greatest upside for outside revenues as well as internal production enhancements. At this point, we have determined that the capillary injection and coil tubing technologies have significant potential given the customers we are currently considering and the wells UPDA has in its portfolio."
UPDA's continued expansion, development and progress will be reported together with all well production at www.universalpropertydevelopment.com
About UPDA
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.
Contact:
Universal Property Development and Acquisition
Corporation
Jack Baker (Investor Relations), 561-630-2977
info@updac.com
--------------------------------------------------------------------------------
Source: Universal Property Development and Acquisition Corporation