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Canyon Creek Preparing To Initiate Oil And Gas Production At Archer County Regular Field; Three Fields To Be Generating Oil And Gas By End Of Week - Four By End Of Month
Business Editors / Energy Editors
HOUSTON--(BUSINESS WIRE)--Dec. 12, 2005--
Canyon Creek Oil & Gas Inc. (A joint venture of
Universal Property Development and Acquisition Corporation
(OTCBB:UPDA) and USProduction & Exploration, LLC. (USPX), a privately
held company) continues its program to revitalize its oil and gas
wells located in the Archer County Regular Field in Archer County,
Texas, comprised of 5 leases totaling 960 acres with 17 wells.
Canyon Creek has now completed work-over procedures on the #2 and
#6 East Vogtsberger Unit wells, #3 and #11 West Vogtsberger Unit
wells, #1 Jones-Ford Unit well, and the #1 Block Estate well. Eight
additional wells are capable of producing oil and 3 wells are reserved
for injection. Canyon Creek has already received a permit to inject
produced water into one of the injector wells located on the West
Vogtsberger lease.
Canyon Creek`s geologist, Steven Fall says, "The Company is ready
to turn on the 6 completed oil wells this week. The company is
expecting the initial oil production from the 6 wells to exceed 400
bopm."
Canyon Creek will continue to move the 2 work-over rigs from well
to well until the remaining wells have been completed. This should
take about additional 2 weeks to complete all work-over procedures. As
previously reported, Canyon Creek is projecting a 1.5 fold increase in
oil production over the historical average.
With the commencement of production in Archer County, Canyon Creek
will have wells producing in three fields - Hagler, Markley South and
Archer. With the completion of work at the Inez field, Canyon Creek
will have production in four fields by the end of the month.
About UPDA
Universal Property Development and Acquisition Corporation
(OTCBB:UPDA) 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.
For additional information visit:
www.universalpropertydevelopment.com.
About CCOG
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint
venture corporation for the purpose of acquiring currently producing
oil and gas properties, low risk drilling prospects and existing wells
in need of state-of-the-art technology to improve profitability.
Canyon Creek Oil and Gas Inc. now has over 60 wells located on more
than 2,000 acres in the Fort Worth basin. The Company has also
acquired properties located in Inez Field in Victoria County and
Giddings Gas Field in Fayette County, Texas. Canyon Creek continues a
revitalization program on all of its properties in order to improve
production and bring more wells on line.
About USPX
USProduction & Exploration, LLC, an independent production and
exploration company located in Sugar Land, Texas, is engaged in the
acquisition of oil and gas producing properties with multiple
enhancement opportunities. USPX seeks high quality exploration
drilling projects in conventional and unconventional reservoirs. The
Company`s approach to developing depleted reservoirs and
unconventional gas is innovative: it combines horizontal,
multilateral, with underbalanced drilling methods.
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.
KEYWORD: NORTH AMERICA FLORIDA TEXAS UNITED STATES
INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: Canyon Creek Oil & Gas, Inc.
CONTACT INFORMATION:
Peter Nasca Associates, Inc. (for Universal Property
Development and Acquisition Corporation)
Peter Nasca, 305-937-1711
info@updac.com
Business Editors / Energy Editors
HOUSTON--(BUSINESS WIRE)--Dec. 12, 2005--
Canyon Creek Oil & Gas Inc. (A joint venture of
Universal Property Development and Acquisition Corporation
(OTCBB:UPDA) and USProduction & Exploration, LLC. (USPX), a privately
held company) continues its program to revitalize its oil and gas
wells located in the Archer County Regular Field in Archer County,
Texas, comprised of 5 leases totaling 960 acres with 17 wells.
Canyon Creek has now completed work-over procedures on the #2 and
#6 East Vogtsberger Unit wells, #3 and #11 West Vogtsberger Unit
wells, #1 Jones-Ford Unit well, and the #1 Block Estate well. Eight
additional wells are capable of producing oil and 3 wells are reserved
for injection. Canyon Creek has already received a permit to inject
produced water into one of the injector wells located on the West
Vogtsberger lease.
Canyon Creek`s geologist, Steven Fall says, "The Company is ready
to turn on the 6 completed oil wells this week. The company is
expecting the initial oil production from the 6 wells to exceed 400
bopm."
Canyon Creek will continue to move the 2 work-over rigs from well
to well until the remaining wells have been completed. This should
take about additional 2 weeks to complete all work-over procedures. As
previously reported, Canyon Creek is projecting a 1.5 fold increase in
oil production over the historical average.
With the commencement of production in Archer County, Canyon Creek
will have wells producing in three fields - Hagler, Markley South and
Archer. With the completion of work at the Inez field, Canyon Creek
will have production in four fields by the end of the month.
About UPDA
Universal Property Development and Acquisition Corporation
(OTCBB:UPDA) 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.
For additional information visit:
www.universalpropertydevelopment.com.
About CCOG
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint
venture corporation for the purpose of acquiring currently producing
oil and gas properties, low risk drilling prospects and existing wells
in need of state-of-the-art technology to improve profitability.
Canyon Creek Oil and Gas Inc. now has over 60 wells located on more
than 2,000 acres in the Fort Worth basin. The Company has also
acquired properties located in Inez Field in Victoria County and
Giddings Gas Field in Fayette County, Texas. Canyon Creek continues a
revitalization program on all of its properties in order to improve
production and bring more wells on line.
About USPX
USProduction & Exploration, LLC, an independent production and
exploration company located in Sugar Land, Texas, is engaged in the
acquisition of oil and gas producing properties with multiple
enhancement opportunities. USPX seeks high quality exploration
drilling projects in conventional and unconventional reservoirs. The
Company`s approach to developing depleted reservoirs and
unconventional gas is innovative: it combines horizontal,
multilateral, with underbalanced drilling methods.
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.
KEYWORD: NORTH AMERICA FLORIDA TEXAS UNITED STATES
INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: Canyon Creek Oil & Gas, Inc.
CONTACT INFORMATION:
Peter Nasca Associates, Inc. (for Universal Property
Development and Acquisition Corporation)
Peter Nasca, 305-937-1711
info@updac.com
RT USA 0,32 
RT 0,305
Last:
0.305
Change:
-0.02
% Change:
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Volume:
198,350
WK: 0,26 €
Glücklicherweise bin ich nicht drin...die OTCBB soll mal jemand verstehen
0.305
Change:
-0.02
% Change:
-6.15%
Volume:
198,350
WK: 0,26 €Glücklicherweise bin ich nicht drin...die OTCBB soll mal jemand verstehen
Trading Spotlight
[posting]19.259.031 von maxeddi am 12.12.05 15:49:04[/posting]
sehr witzig
sehr witzig 
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