Heartland FAKTEN only! - 500 Beiträge pro Seite

[fronekmir1]

hallo

habe von hoca grade eine Empfehlung bekommen. Wäre schön wenn hier nur NEWS und Faken rein kommen. Kenne den Wert bisher nicht und würde mich über Erfahrungsberichte auch im Hauptthread freuen.

danke im Voraus

miro

[fronekmir1]

Heartland Oil and Gas Corporation Provides Operational Update on Cherokee Basin Assets

DENVER, Jun 14, 2007 (BUSINESS WIRE) -- Heartland Oil and Gas Corp (OTC BB: HOGC, "Heartland," or "the Company") has initiated drilling activities on three locations, beginning what the Company plans to be a new phase of drilling on the approximately 90,000 acres it owns in the northern Cherokee Basin of eastern Kansas. The wells directly offset and expand Heartland's Lancaster Battery ("Lancaster") and are expected to be completed by the end of the month.

Lancaster is currently producing approximately 290 thousand (gross) cubic feet of gas per day ("Mcfgpd") from 16 wells. Gas produced from Lancaster is gathered, transported, processed and compressed by Heartland Gas Gathering LLC, a wholly owned subsidiary of Heartland. The gas is then sold to Enbridge, where the Company receives the equivalent of Southern Star pricing. Including gas from eight wells still awaiting hook-up, the Company is currently producing approximately 490 Mcfgpd.

Heartland also disclosed supplemental (unaudited, for informational purposes only) reserve estimates from Malkewicz Hueny Associates, its independent reserve engineers, to help investors assess the impact of pricing and more established production histories on its estimate of proved reserves.

12/31/05 @ 12/31/06 @ 12/31/06 @ 12/31/06 @
$7.71/Mcf $5.35/Mcf $7.00/Mcf $7.71/Mcf
----------------------------------------------------------------------
Disc Disc Disc Disc
Net Net Net Net Net Net Net Net
Gas Income Gas Income Gas Income Gas Income
MMCF M$ @ MMCF M$ @ MMCF M$ @ MMCF M$ @
10% 10% 10% 10%
----------------------------------------------------------------------
Proved developed
producing 285 $838 620 $792 793 $1,352 848 $1,606
----------------------------------------------------------------------
Proved developed
non-producing 0 0 0 0 317 $580 337 $686
----------------------------------------------------------------------
Proved
undeveloped 762 $478 0 0 1,991 $1,293 2,106 $1,914
----------------------------------------------------------------------
Total proved 1,047 $1,316 620 $792 3,102 $1,778* 3,293 $2,758*
======================================================================
* Net of $1,448 M for pipeline expenditures


Phil Winner, chief executive officer, said, "We are very pleased with the sustainability of our production and increasing maturity of the assets. While our 2005-to-2006 reserve comparisons were negatively impacted by lower gas prices at the end of 2006, we believe the combination of shallow decline under a more reasonable price scenario strengthens our overall reserve base."

He added, "We have productive pilots and acreage across a 12 mile swath, and still have not seen productive limits. Should we obtain necessary financing from our new parent corporation, Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1), or other sources, we plan to expand our pipeline to increase sales from vented gas and drill additional wells."

About Coal Bed Methane

Coal bed methane ("CBM") generally consists of 95% methane, with the balance being made up of primarily nitrogen (N2) and carbon dioxide (CO2). CBM is often associated with gas produced from adjacent shales. Due to the corrosive nature of carbonic acid, removal of CO2 is generally required to get the gas to pipeline quality. CBM is considered an unconventional natural gas resource because it is adsorbed to the coal (or shale), and does not rely on buoyant forces found in more 'conventional' trapping mechanisms such as a fault, anticline, or stratigraphic trap. Adsorption is an efficient storage mechanism as coals can contain as much as seven times the amount of gas typically stored in a conventional natural gas reservoir. CBM production typically has a low rate of production decline and a long economic life of from 10 to 40 years. Currently, natural gas from coal beds accounts for approximately 7% of total natural gas production in the United States.

For further information, visit www.heartlandoilandgas.com

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, including availability of financing. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, or should the company be unable to obtain financing, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.

SOURCE: Heartland Oil and Gas Corp

CONTACT: Heartland Oil and Gas Corporation
Jack Baker, Investor Relations, 561-630-2977
[e-mail]


Copyright Business Wire 2007

[fronekmir1]

Heartland Oil and Gas Corporation Completes Management Transformation - Receives Resignation of CEO and Appoints Interim President - Signals New Era of Asset Development

HOUSTON, Jul 02, 2007 (BUSINESS WIRE) -- In a meeting held on June 25, 2007, a majority of the Board of Directors of Heartland Oil and Gas Corp (OTCBB:HOGC) voted to install Steven A. Fall as its Interim President. This appointment signals the beginning of a new era for Heartland in which it will aggressively pursue the development of its vast oil and gas assets in Eastern Kansas.

In conjunction with this appointment, the Board has received the resignation of Phil Winner as CEO and a member of the Heartland Board, marking the departure of the last vestige of Heartland's former management. Mr. Winner's resignation will not become effective until July 27, 2007 and he will be working with Heartland's new management team during that period to ease the company through this transition period.

Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1) recently acquired a majority stock interest in Heartland.

"With the new drilling program already undertaken in conjunction with UPDA's Aztec Well Services subsidiary, Heartland is well positioned to begin this new era," reports Mr. Fall. "I am very familiar with the management and approach of UPDA and I understand that it is my mission to move these projects forward without complacency. We intend to establish a new attitude of growth and success in Heartland beginning immediately."

Mr. Fall received his Bachelors and Masters degree in geology from Texas A&M University and continued his education with the American Association of Petroleum Geologists (AAPG) and Houston Geological Society (HGS) were he focused his studies in 3D seismic and basin analysis. Mr. Fall started his professional career as an exploration geologist with Exxon Company USA where he explored for regional trends along the Gulf Coast and managed onshore projects for Columbia Gas Development. Mr. Fall also served as Vice President of Perryman Oil and Gas and was a partner with Aleco Oil and Gas where he created, marketed, and drilled in-house prospects and evaluated outside projects for the company. After working as an independent geologist for 6 years, Mr. Fall became district manager of EB Co. Mr. Fall's most recent work included a position as a business development manager for Wellspring Partners. Mr. Fall has previously consulted for such companies as Exxon, Texaco, Chevron, Pennzoil, Marathon, Merit Energy, Hilcorp, Bass Enterprises, Pennzenergy, and Mueller Engineering.

For further information, visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas Corp

CONTACT: Heartland Oil and Gas Corporation
Jack Baker (Investor Relations), 561-630-2977
[e-mail]

[fronekmir1]

Heartland Oil and Gas Corporation Continues Drilling Program - Prepares to Complete and Connect 7 New Wells in the Cherokee Basin, Kansas

SPRING HILL, Kan., Jul 10, 2007 (BUSINESS WIRE) -- The new management of Heartland Oil and Gas Corp. (OTCBB:HOGC) met this past weekend in order to establish procedures and finalize plans for the completion and connection of the 7 wells it has recently had drilled in its Cherokee Basin Coalbed Methane Field in Southeastern Kansas.

These seven new wells, the first of the recently commenced drilling program undertaken with the assistance of Aztec Well Services, Inc., a wholly owned subsidiary of Heartland's new parent, Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1), should be completed and connected to the sales line within the next two weeks while Aztec continues to drill additional wells. These wells are in addition to the 24 wells previously drilled by Heartland in the Cherokee Basin.

"We met this weekend and established the methods to frac and perforate the wells, determined the best location for the pipelines and reviewed the locations for the next new wells," reported Heartland's new CEO, Steven A. Fall. "I will also meet with our consulting petroleum engineer in order that the drilling program can progress without interruption. Another well was spud today and should reach total depth by Wednesday, weather permitting. After that, we will be ready to move to well number 9."

As a result of financing obtained with the assistance of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1), Heartland is preparing to drill as many as 2 wells per week in its Cherokee Basin Coalbed Methane Field.

About Coal Bed Methane

Natural gas normally consists of 80% or more methane with the balance comprising such hydrocarbons as butane, ethane and propane. In some cases it may be sour, that is contain minute quantities of highly poisonous hydrogen sulfide. CBM is as a rule a sweet gas consisting of 95% methane and thus is normally of pipeline quality. CBM is considered an unconventional natural gas resource because it does not rely on a 'conventional' trapping mechanism or stratigraphic trap such as a fault or anticline comprised of a impermeable rock. Instead CBM is "adsorbed" or attached to the molecular structure of the coals - a surprisingly efficient storage mechanism as CBM coals can contain as much as seven times the amount of gas typically stored in a conventional natural gas reservoir such as sandstone or shale. The adsorbed CBM is kept in place as a result of a pressure equilibrium often from the presence of water. Thus the production of CBM in many cases requires the dewatering of the coals to be exploited. This process usually requires the drilling of adjacent wells and from 6 to 36 months to complete. CBM production typically has a low rate of production decline and a long economic life of from 10 to 40 years. The principal sources of CBM are either biogenic, producing a dry gas which is generated from bacteria in organic matter, typically at depths less than 1000 feet, or thermogenic, which is a deeper wet gas, formed when organic matter is broken down by temperature and pressure. Currently, natural gas from coal beds accounts for approximately 7% of total natural gas production in the United States.

For further information, visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas Corporation

CONTACT: Heartland Oil and Gas Corporation
Jack Baker, Investor Relations, 561-630-2977
[e-mail]


Copyright Business Wire 2007

[fronekmir1]

Heartland Oil and Gas Corporation Continues Drilling Program - Engages Contractor to Extend Gathering System and Connect Wells in the Cherokee Basin, Kansas

SPRING HILL, Kan., Jul 24, 2007 (BUSINESS WIRE) -- Heartland Oil and Gas Corp (OTCBB: HOGC) and its drilling contractor, Aztec Well Services, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1), have retained Double J Pipeline Construction of Baldwin, Kansas to pull electrical, install the surface equipment, extend the gathering system, install meter runs and pressure test the pipeline in order to connect 5 of its newly drilled wells in Heartland's Cherokee Basin Coalbed Methane Field in Southeastern Kansas.

Double J will dig trenches and install a total of approximately 22,000 feet of poly pipe and perform the other services necessary to connect the wells during the coming weeks for the total sum of about $120,000. A total of 13 wells have been drilled since the commencement of Heartland's new drilling program.

"We are continuing our rapid progress in the field and building our team of contractors to bring the gas to market," reports Heartland CEO, Steven A. Fall. "Double J is mobilizing to begin connecting this first group of wells and we will be working with Aztec and other contractors to maintain the pace ahead of them."

As a result of financing obtained with the assistance of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1), Heartland, is preparing to drill as many as 2 wells per week in its Cherokee Basin Coalbed Methane Field.

About Coal Bed Methane

Natural gas normally consists of 80% or more methane with the balance comprising such hydrocarbons as butane, ethane and propane. In some cases it may be sour, that is contain minute quantities of highly poisonous hydrogen sulfide. CBM is as a rule a sweet gas consisting of 95% methane and thus is normally of pipeline quality. CBM is considered an unconventional natural gas resource because it does not rely on a 'conventional' trapping mechanism or stratigraphic trap such as a fault or anticline comprised of a impermeable rock. Instead CBM is "adsorbed" or attached to the molecular structure of the coals - a surprisingly efficient storage mechanism as CBM coals can contain as much as seven times the amount of gas typically stored in a conventional natural gas reservoir such as sandstone or shale. The adsorbed CBM is kept in place as a result of a pressure equilibrium often from the presence of water. Thus the production of CBM in many cases requires the dewatering of the coals to be exploited. This process usually requires the drilling of adjacent wells and from 6 to 36 months to complete. CBM production typically has a low rate of production decline and a long economic life of from 10 to 40 years. The principal sources of CBM are either biogenic, producing a dry gas which is generated from bacteria in organic matter, typically at depths less than 1000 feet, or thermogenic, which is a deeper wet gas, formed when organic matter is broken down by temperature and pressure. Currently, natural gas from coal beds accounts for approximately 7% of total natural gas production in the United States.

For further information, visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas Corporation

CONTACT: Heartland Oil and Gas Corporation
Jack Baker, Investor Relations, 561-630-2977
[e-mail]


Copyright Business Wire 2007

[fronekmir1]

Heartland Oil and Gas Corporation Reaches Major Milestones during First Three Months since Acquisition by UPDA

HOUSTON, Aug 01, 2007 (BUSINESS WIRE) -- Heartland Oil and Gas announced today several major milestones the company has achieved since its change in ownership about 3 months ago. In late April 2007, Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1) acquired a majority of the stock of Heartland Oil and Gas Corp (OTCBB:HTOG) (FWB:HOCA) signaling the beginning of a new era of development and expansion for Heartland. Since this change, a new management team was introduced at Heartland, led by veteran geologist, Steven A. Fall and the UPDA energy and attitude was instilled in its methods.

Mr. Fall had previously served as UPDA's Chief Geologist and had been with the Company since July 2005. Upon his reassignment as CEO of Heartland, he assumed control of an ambitious program designed to drill a minimum of 2 new wells per week with a goal of 50 new wells by the end of this year. To date, a total of 14 new wells have been drilled by Heartland since its acquisition by UPDA, each showing commercial potential in initial testing, and the drilling program is proceeding on schedule.

"As we were completing the due diligence on this deal at UPDA, it became apparent that, with the massive amount of acreage Heartland acquired in its deal with Evergreen Resources in 2004, we needed to be aggressive in moving immediately to exploit its great potential," explains Heartland CEO Steven A. Fall. "Evergreen bought 113,000 acres of this land for $10.2 million in 2003 and Heartland paid Evergreen over $22 million to get about 766,000 acres in 2004 but there hadn't been a well drilled in the field for nearly a year. We are determined to prove this acreage and these first 14 wells represent a good start towards that goal."

At the present time, Heartland has a total of 52 wells, including the 14 newly drilled wells set for completion, in addition to two water disposal wells. Thirty eight of the wells and the 2 disposal wells are in Miami County, Kansas, in the Jake, Lancaster, Osawatomie and Beagle Pilots. The new wells were drilled in the Lancaster and Jake Pilot and range in total depth from 540 to 660 feet. A contract for the installation of surface equipment and flow lines has been entered and the wells will be perforated and fractured as soon that work is completed. Heartland also has another 4 wells permitted and will soon meet with the drilling contractor, Aztec Well Services, Inc., another UPDA subsidiary, to select additional sites in order to maintain the pace of the drilling program.

"In just 3 short months, we have brought tremendous energy back to Heartland," summarizes CEO Fall. "We intend to build on that energy, both literally and philosophically." We have lot of land out here and a lot of gas; we intend to deliver that gas to market."

For further information, visit www.heartlandoilandgas.net

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.

SOURCE: Heartland Oil and Gas

CONTACT: Heartland Oil and Gas Corporation
Jack Baker (Investor Relations), 561-630-2977
[e-mail]


Copyright Business Wire 2007

[fronekmir1]

UPDA's Catlin Subsidiary to Transfer All of its Wells and Leases to Heartland Oil and Gas Corp.

HOUSTON, Aug 08, 2007 (BUSINESS WIRE) -- Catlin Oil and Gas, Inc., a subsidiary Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1) has entered an agreement to sell all of its oil and gas wells and leases to Heartland Oil and Gas Corp. (OTCBB:HTOG) (FWB:HOCA). This includes about 3000 acres and 65 wells in Jack County, Texas as well as the new Palo Pinto Acquisition which has more than 10 producing wells. The Palo Pinto wells have been producing natural gas at a rate exceeding 1000 mcf/day for several months although as a result of recent stimulation, a single well is currently producing more than 1500 mcf/day. In addition, many of the wells have been drilled into the Barnett Shale and one of Heartland's goals is to complete those wells into the Barnett Shale in order to increase their production.

UPDA recently acquired a controlling interest in Heartland.

This transfer is consistent with UPDA's plan to streamline all E & P operations into Heartland, which will in turn increase Heartland's proven reserves and provide over 2000 mcf/day of natural gas production to Heartland. In addition to this transfer, Heartland Oil and Gas Corp's wholly owned subsidiary, Heartland Oil and Gas, Inc., will have become authorized to do business in Texas and will be assuming control of well operations from UPDA Operators, Inc., thus completing the transfer of all UPDA exploration and production activities to Heartland.

Heartland will assume UPDA's obligations on its loan from Sheridan Asset Management, LLC. as consideration for this sale.

"This transaction allows UPDA to achieve several of its multi-corporate objectives," reports UPDA Vice President Chris McCauley. "First of all, the Palo Pinto acquisition represents a significant increase in producing assets. In addition, Catlin's original leases are already producing substantial quantities of oil and gas. Together, they provide Heartland with immediate revenue to support day to day operations while it continues its drilling program in Kansas. Finally, the deal is a continuation of UPDA's program of asset incubation and organization of corporate assets. In this corporate organization, UPDA will provide financial, legal and investor relations support and direction, Heartland will grow as UPDA's exploration and production arm and Continental Fuels, Inc. (OTCBB:CFUL) (FWB:CIQB) (www.continentalfuels.com) will establish itself as its trading and marketing subsidiary. As a result, the management of UPDA expects to significantly expand shareholder value for the entire UPDA conglomerate."

For more information about Heartland Oil and Gas Corp., please visit www.heartlandoilandgas.net

About UPDA

Universal Property Development and Acquisition Corporation www.universalpropertydevelopment.com is focused on identifying oil & gas companies with proven energy reserves and innovative alternative energy companies with proven technologies. Once identified, the viability and potential of the targeted company is subjected to a rigorous multi-step review and investigation.

First, the potential company's financial records, legal standing and geological or technological potential are thoroughly examined by the UPDA Due Diligence Committee. If the candidate passes this test, a recommendation is made to the Acquisition Committee which conducts initial negotiations and presents its conclusions to the CEO and Board of Directors who will secure the acquisition.

Once the acquisition process is complete, the acquired company becomes a subsidiary of UPDA and the incubation process begins. UPDA provides the subsidiary with financial, legal and scientific support in order to develop its assets and perfect its innovations allowing its management to concentrate on its business plan and operational objectives.

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.

SOURCE: Heartland Oil and Gas Corp.

CONTACT: Heartland Oil and Gas Corp.
Jack Baker (Investor Relations), 561-630-2977
[e-mail]

[fronekmir1]

Officers & Directors

Steven A. Fall - Interim President

Mr. Fall, 57, started his professional career as an exploration geologist with Exxon Company USA where he explored for regional trends along the Gulf Coast and managed onshore projects for Columbia Gas Development. Mr. Fall also served as Vice President of Perryman Oil and Gas and was a partner with Aleco Oil and Gas where he created, marketed, and drilled in-house prospects and evaluated outside projects for the company. After working as an independent geologist for 6 years, Mr. Fall became district manager of EB Co. Mr. Fall's most recent work included a position as a business development manager for Wellspring Partners. Mr. Fall has previously consulted for such companies as Exxon, Texaco, Chevron, Pennzoil, Marathon, Merit Energy, Hilcorp, Bass Enterprises, Pennzenergy, and Mueller Engineering. Mr. Fall received his Bachelors and Masters degree in geology from Texas A&M University and continued his education with the American Association of Petroleum Geologists (AAPG) and Houston Geological Society (HGS) were he focused his studies in 3D seismic and basin analysis.


Said Abdallah - Chief Operating Officer

Mr. Abdallah, 52, has over twenty years experience as an electrical engineer and as a contractor in the oil and gas drilling, operation and maintenance industry. Mr. Abdallah is currently also the President of Aztec Drilling Corp., a wholly-owned subsidiary of the Registrant, and in that capacity he has directed the Registrant's recent well drilling activities on its Coal Bed Methane properties on the Bourbon Arch acreage in northeast Kansas. Mr. Abdallah received his Bachelors of Science degree from Youngstown State University in Youngstown, Ohio.

Kamal Abdallah – Board of Directors

Mr. Kamal Abdallah has fifteen years experience in commercial real estate investment and development. Abdallah relocated to Florida in 2000, during this time he developed a very successful real estate investment business, and concentrated on structuring and financing a variety of deals. Mr. Abdallah attended Oakland Community College and Oakland University in Michigan where he focused his studies in the area of accounting and finance.

Christopher J. McCauley – Board of Directors

Chris McCauley has 20 years experience in the areas of Real Estate and Commercial law and over 8 years in oil and gas acquisitions and operations. A graduate of Ohio State University and Cleveland-Marshall College of Law.

Ms. Eileen Himes – Controller

Ms. Himes has been Controller for Heartland Oil and Gas since April 1, 2005. She has over 20 years of management experience and expertise in all areas of oil and gas accounting. She holds a Bachelor of Science degree from the University of Houston. Ms. Himes has served as Controller for four companies and managed a staff of up to 14 direct reports. She has also served as Accounting Manager for Evergreen Resources and as Vice President and Controller for ARC Thrift Stores. Ms. Himes has been fully responsible for the accounting installation of two start-up companies, including computer conversions and loading all data for the oil and gas software. Her background also includes project management, employee benefits administration and training employees on new accounting software. She has accounted for oil and gas properties in Kansas, Colorado, New Mexico, Utah, Wyoming, Montana and Texas.

http://www.heartlandoilandgas.com/management.htm

[fronekmir1]

Cherokee Basin Pilot Programs

Heartland has focused its development activities on its 90,000 acres located in the Cherokee basin. There are four active production batteries defining a 12 mile long project area. From east to west, these batteries include: Jake (1 well), Lancaster (16 wells), Osawatomie (4 wells), and Beagle (3 wells). Completed intervals range from 400 to 1000 feet deep, with production gathered and handled at facilities common to each area.


Heartland currently has gross production of approximately 550 thousand cubic feet of gas per day (“Mcfgpd”). By mid-February of 2006, the Company had established approximately 350 Mcfgpd of gas sales from Lancaster field. Lancaster gas is being transported to the Company’s Paola gas processing plant where carbon dioxide and water vapor are extracted. Once the gas is processed to pipeline specification, it is compressed and delivered to Enbridge Pipeline where it is then sold into mid-continent markets.


The Company’s 2005 activity in the Cherokee basin showed that by using alternative techniques, it could achieve a 50 percent reduction in drilling and complete costs while increasing production by 100 percent. For example, the 14 wells drilled and completed by Evergreen Resources produce at an average initial rate of approximately 17 Mcfgpd and cost over $250,000 to drill and complete. In contrast, the 10 wells drilled and completed by Heartland, most of which directly offset Evergreen wells, have an average initial rate of approximately 33.0 Mcfgpd. Actual drilling and completion costs from Heartland’s second phase of activity during 2005 averaged only $135,000 per well.


To sell Lancaster gas, the Company committed funds in the second half of 2005 to construct a gas sales pipeline with processing facilities. Locally produced gas requires processing before it is marketable into the Enbridge Pipeline system. The company’s Paola Processing Facility has shown a continued operation since early February and the ability to process the carbon dioxide and water out of the gas stream. During 2006, the company hopes to follow through on plans to install pipelines from the other three pilots and further develop the area. The Paola processing plant is sized for 1 MMcfgpd, and can be easily expanded by adding “trains” as production from the area increases.

[fronekmir1]

http://www.sec.gov/Archives/edgar/data/1075636/0001193125062…

HOGC Quarterly Report filed on Edgar

http://www.sec.gov/Archives/edgar/data/1075636/0001144204060…

HOGC Annual Report filed on Edgar

http://www.heartlandoilandgas.com/9497.PDF

14-C filed on Edgar

[fronekmir1]

Company Profile: Heartland Oil and Gas Corp.
Ticker: HTOG
Exchanges: OTC
2006 Sales: 399,340
Major Industry: Oil, Gas, Coal & Related Services
Sub Industry: Crude Oil & Natural Gas Producers
Country: UNITED STATES
Employees: 5


http://wrightreports.ecnext.com/comsite5/bin/comsite5.pl?pag…

[schakal23]

Antwort auf Beitrag Nr.: 31.091.712 von fronekmir1 am 09.08.07 10:44:31

das werd der nächste rackete sein

[fronekmir1]

Antwort auf Beitrag Nr.: 31.091.712 von fronekmir1 am 09.08.07 10:44:31

Heartland Oil and Gas Corp. Business Information

885 West Georgia Street Suite 1500

Vancouver, BC, V6C 3E8

Canada

+1.604.693.0177

www.heartlandoilandgas.com

[map]
Industry Energy & Utilities
Employees 250 - 1000
Revenue $100 - 250M
Owership Public
Ticker NASDAQ : HOGC

http://www.jigsaw.com/id180523/heartland_oil_and_gas_corp_co…


weis jemand warum die Zahlen sich so unterscheiden zu dem voran gegangenen Beitrag?

[fronekmir1]

Antwort auf Beitrag Nr.: 31.091.774 von schakal23 am 09.08.07 10:48:58

ich weis noch nicht was das wird habe den wert heute morgen gesehen, das erste mal. mal schauen was draus wird bei UPDA bin ich immer vorsichtig gewesen und werde es auch hier sein

[fronekmir1]

www.heartlandoilandgas.com


Said Abdallah - Chief Operating Officer

Mr. Abdallah, 52, has over twenty years experience as an electrical engineer and as a contractor in the oil and gas drilling, operation and maintenance industry. Mr. Abdallah is currently also the President of Aztec Drilling Corp., a wholly-owned subsidiary of the Registrant, and in that capacity he has directed the Registrant's recent well drilling activities on its Coal Bed Methane properties on the Bourbon Arch acreage in northeast Kansas. Mr. Abdallah received his Bachelors of Science degree from Youngstown State University in Youngstown, Ohio.

Kamal Abdallah – Board of Directors

Mr. Kamal Abdallah has fifteen years experience in commercial real estate investment and development. Abdallah relocated to Florida in 2000, during this time he developed a very successful real estate investment business, and concentrated on structuring and financing a variety of deals. Mr. Abdallah attended Oakland Community College and Oakland University in Michigan where he focused his studies in the area of accounting and finance.



www.updac.com

Kamal Abdallah
Chairman/CEO

Mr. Kamal Abdallah has fifteen years experience in commercial real estate investment and development. Abdallah relocated to Florida in 2000, during this time he developed a very successful real estate investment business, and concentrated on structuring and financing a variety of deals. Mr. Abdallah attended Oakland Community College and Oakland University in Michigan where he focused his studies in the area of accounting and finance.

[fronekmir1]

aus dem haupthread

Mal was zur Historie des Ladens:

Heartland Oil and Gas Corp., was incorporated in the State of Nevada on July 9, 1998, under the name Adriatic Holdings Ltd.

Heartland is an oil and gas exploration company that, prior to our recent acquisition of certain assets from Evergreen Resources, had interests in leases covering approximately 252,000 acres in central Kansas (the “Soldier Creek project”). We have a 100% working interest in all of these leases. Our net revenue interest in these leases is approximately 85%.

On September 27, 2004 Heartland completed the acquisition of the Forest City Basin and Bourbon Arch assets from Evergreen Resources, Inc. for a purchase price of $22 million. The Forest City Basin assets consisted of all of Evergreen Resources, Inc.’s interest in all its oil and gas leases covering an aggregate of approximately 766,000 acres located in the State of Kansas, together with 60 well bores and all surface equipment, gathering and surface facilities and all geological, engineering, land and accounting data and records pertaining to these leases and assets.

After the acquisition of the Evergreen assets, Heartland held in excess of 1 million acres of prospective CBM leases at various stages of development, 88 wells, including 43 CBM wells in eight pilots that were dewatering and/or venting gas, 37 CBM wells awaiting stimulation, and 8 saltwater disposal wells. As of November 15, 2005, Heartland had leases covering approximately 1 million acres.

During 2005, Heartland established a Denver office and assembled an operating team to manage field operations, geology, engineering, land, and financial reporting required to operate the new properties. During the year, Heartland’s operational staff evaluated the exploration and development potential of its nearly 1 million acres. This included drilling of 10 test wells and 1 SWD in Miami County, well testing in several northern and southern wells, and hydraulic fracture stimulation studies. Based upon well performance results, Heartland believes that the Bourbon Arch area is now producing at economic rates with development potential. At the time of the Evergreen asset purchase the Bourbon Arch Project was producing at a combined rate of about 60 thousand cubic feet of gas per day (“Mcfgpd”) and is now currently selling or venting gas at or near 600 Mcfgpd.

Heartland has built a pipeline with processing facilities from its Lancaster pilot area to a tie-in with Enbridge Pipeline. This system has tie-in areas (“futures”) to accommodate system expansion. We are selling gross production of approximately 350 Mcfgpd, or about 250 Mcfgpd net of royalties, CO2 extraction, fuel gas and shrinkage from our Lancaster field.

[fronekmir1]

Antwort auf Beitrag Nr.: 31.092.935 von fronekmir1 am 09.08.07 12:00:05

#101 von Chartsetter

[fronekmir1]

2006
February 21 Heartland Oil and Gas Corporation Initiates Gas Sales
February 7 Heartland Oil and Gas Completes Pipeline Hookup


2005

December 29

Heartland Oil and Gas Corp Announces Management Changes,
Operational Update
July 29 Heartland Oil & Gas Announces Gas Sales Contracts,
Provides Operational Update
May 4 Heartland Oil & Gas: International Developments
April 27 Heartland Oil & Gas Provides Operational Update
February 7 Heartland Oil & Gas Operational Update

2004
December 13 C. K. Cooper & Company Announces Presenting Companies at Its
Annual Oil & Gas Conference
October 4 Heartland Closes $44.5 Million Financing
September 28 Heartland Closes the Acquisition of the Forest City Basin Assets of
Evergreen Resources, Inc.
September 20 Heartland Signs Letter of Intent to Acquire Evergreen Resource\'s
Forest City Basin Kansas Assets for $22 Million
August 6 Heartland Oil and Gas Corp. Corporate Update
April 1 Corporate Update for Heartland Oil and Gas
January 26 Operations and Financial Update




2003
August 26
C. K. Cooper & Company Closes $12 Million Offering for
Heartland Oil & Gas Corp.
August 20
Heartland Secures $12 Million Financing
August 4
CBM Pilot Program Update
July 10
Heartland Makes Application to List on AMEX
March 10
Heartland Announces Closing of Private Placement
February 28
Heartland Commences Pilot Coal Bed Methane Gas Production Program



2002
October 24 Adriatic Holdings Limited Appoints Randy Buchamer to the Board
October 16 Adriatic Holdings Limited Appoints Michael Bodino to the Board
September 25 Adriatic Holdings Limited Plans 2,000,000 Unit Offering
September 18 Adriatic Holdings Limited Completes Acquisition of Heartland Oil & Gas Inc.


http://www.heartlandoilandgas.net/news.htm

[fronekmir1]

Coalbed Methane Primer

During the past decade coal bed methane (CBM) has emerged as a new and abundant source of natural gas compared to the late 1980s when there was no significant production outside of the still dominant San Juan Basin, in northwestern New Mexico, and the Black Warrior basin in eastern Alabama. As of 2000, CBM production accounted for 7% of US natural gas production or approximately 3.6 billion cubic feet (Bcf) of gas per day or an annual 1.35 trillion cubic feet (Tcf) of gas from over 14,000 producing wells.CBM Basins USA

The success of CBM developments has been largely the result of improved drilling and completion techniques, better hydraulic fracture designs and significant cost reductions as a result of highly dependable gas content and CBM reservoir performance analysis. Also aiding this sector's growth is the apparent shortage of quality domestic conventional exploration and development projects.
undefined



What is Coal Bed Methane?

Natural gas normally consists of 80% or more methane with the balance comprising such hydrocarbons as butane, ethane and propane. In some cases it may be sour, that is contain minute quantities of highly poisonous hydrogen sulfide. CBM is as a rule a sweet gas consisting of 95% methane and thus is normally of pipeline quality. CBM is considered an unconventional natural gas resource because it does not rely on a 'conventional' trapping mechanism or stratigraphic trap such as a fault or anticline comprised of a impermeable rock. Instead CBM is "adsorbed" or attached to the molecular structure of the coals - a surprisingly efficient storage mechanism as CBM coals can contain as much as seven times the amount of gas typically stored in a conventional natural gas reservoir such as sandstone or shale. The adsorbed CBM is kept in place as a result of a pressure equilibrium often from the presence of water. Thus the production of CBM in many cases requires the dewatering of the coals to be exploited. This process usually requires the drilling of adjacent wells and from 6 to 36 months to complete. CBM production typically has a low rate of production decline and a long economic life of from 10 to 40 years. The principal sources of CBM are either biogenic, producing a dry gas which is generated from bacteria in organic matter, typically at depths less than 1000 feet, or thermogenic, which is a deeper wet gas, formed when organic matter is broken down by temperature and pressure.

The three main factors which determine whether or not gas can be economically recovered from coal beds are: the gas content of the coals; the permeability or flow characteristics of the coals; and, the thickness of the coal beds. Gas content is measured in terms of standard cubic feet (scf) per ton and varies widely from 430 scf per ton in the deep (2,000 to 3,500 feet) San Juan, New Mexico, thermogenic coals, and only 60 scf per ton for the shallow (300 to 700 feet deep) Powder River, Wyoming, biogenic coals. The San Juan coals are considered to have the industry's highest permeability. All CBM coals must have relatively high permeability as the ability of gas to easily travel to the bore hole is essential to economic CBM production. The thickness of coal beds from which CBM is economically being produced varies from as little as a few feet in some areas of the gas rich (300 scf) Raton Basin to as much as 75 net coal bed thickness at the relatively gas poor Powder River. CBM production in the Cherokee/Forest City Basins has historically been economic from coal seams only a few feet thick.

undefined
CBM Producers

Three of the largest CBM producers in America's lower 48 states are BP Amoco, Burlington Resources and Phillips Petroleum, all producing most of their production from the now in decline San Juan basin. Though it ranks fourth in terms of production, the leading CBM player in terms of growth and technology is widely acknowledged to be Devon Energy. Devon is aggressively expanding CBM production in the Powder River and Raton Basins and has CBM production in the San Juan and Wind River Basins. The company has acquired what is considered a "dominant" 250,000 acre position in the Powder River Basin. It also has 53,000 acres in the Wind river. Devon recently sold a large position in the Forest City/Cherokee Basin, Kansas.


http://www.heartlandoilandgas.net/cbm.htm

[fronekmir1]

[Klausken]

Aug 9, 2007 otcstockexchange.com: ARSC, HTOG, WLGC, FCCN - OTCStockExchange.com Stock Alert
Aug 9, 2007 Bullishalerts.com: Watch List
Aug 9, 2007 OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for August 9th CYPW, ENEC, STWG, BIPH, HTOG
Aug 8, 2007 UPDA's Catlin Subsidiary to Transfer All of its Wells and Leases to Heartland Oil and Gas Corp.
Aug 6, 2007 UPDA Catlin Subsidiary Set to Close on Acquisition of Oil and Gas Field in Palo Pinto County Texas - Current Production About 1000 mcfg/day
Aug 2, 2007 UPDA Shareholders Begin Receiving Distribution of Stock in Continental Fuels Subsidiary
Aug 1, 2007 Heartland Oil and Gas Corporation Reaches Major Milestones during First Three Months since Acquisition by UPDA
Jul 24, 2007 Stockwire.com: Speak with other shareholders about: (OTCBB: HOGC), (OTCBB: TTDS) and (OTCBB: YGDC) .
Jul 24, 2007 DanceswithBulls.com: Premier SmallCap Investor Community - Stocks to Watch for Tuesday July 24, 2007 include Heartland Oil and Gas Corp., Triton Distribution Systems, Inc. and Yukon Gold Corporation, Inc.
Jul 24, 2007 Heartland Oil and Gas Corporation Continues Drilling Program - Engages Contractor to Extend Gathering System and Connect Wells in the Cherokee Basin, Kansas

Jul 10, 2007 Heartland Oil and Gas Corporation Continues Drilling Program - Prepares to Complete and Connect 7 New Wells in the Cherokee Basin, Kansas
Jul 2, 2007 Heartland Oil and Gas Corporation Completes Management Transformation - Receives Resignation of CEO and Appoints Interim President - Signals New Era of Asset Development
Jun 27, 2007 UPDA Board Approves Spin Off to Shareholders - One Share of Continental Fuels, Inc. Subsidiary to be Distributed for Every 50 Shares of UPDA
Jun 22, 2007 UPDA Aztec Well Services, Inc. Subsidiary Spuds Fifth Well in Cherokee Basin - Runs Logs and Sets Production Pipe
Jun 19, 2007 UPDA Board Updates its Shareholders on Continuing Progress
Jun 15, 2007 OTC ADVISORS, LLC: www.otc-advisors.com names: RHOI, HOGC, CHYS, UPDA it's "Bulls In The Stable"!
Jun 15, 2007 UPDA Aztec Well Services, Inc. Subsidiary Obtains Permit for Six Wells in Cherokee Basin - 3 Wells Drilled into Coalbed Seams and Productive Sands
Jun 14, 2007 Heartland Oil and Gas Corporation Provides Operational Update on Cherokee Basin Assets
Jun 12, 2007 UPDA Establishes Aztec Well Services, Inc. Subsidiary - Obtains License, Crew and Equipment to Undertake Drilling Operations in Kansas

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=HTOG#g…

[Klausken]

JACKSBORO, Texas--(BUSINESS WIRE)--The contractor retained by Aztec Well Services, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTC BB: UPDA, UP1.F, UP1.BE, UP1.DE, UP1.MU, UP1.SG) has 90% of the flow lines in the ground and back filled on 5 wells in Heartland Oil and Gas Corp.’s (OTCBB: HTOG) (FWB: HOCA) coalbed methane field located in the Cherokee Basin in Southeastern Kansas.

On Tuesday, August 14, 2007, Double J Pipeline Construction of Baldwin, Kansas will start road bores in order to fuse the newly installed flow lines and pressure check the connections to the Clausen 24-6, Oberheide 14-8, Peckman 11-17, Peckman 41-18, and the Peckman 21-18 wells.

While Aztec continues work on the wells in Kansas, Heartland is also preparing to continue the improvement of its newly acquired properties in Texas. In Palo Pinto County, the Barron #3 was recently completed in the Barnett Shale and is flowing approximately 1 MMcf/d to the sales line. Heartland is making plans to recomplete an additional 6 wells that have Barnett Shale behind pipe and to convert an existing well or drill a new well for disposal of the water being generated.

In Jack County, Texas, Heartland has retained Schlumberger to run a cased hole log in order to help evaluate the potential for production from the Conglomerate Zone of several of its wells in the Catlin Oil and Gas Field it has recently agreed to acquire from UPDA. This work should be commenced within the week, after completion of certain road improvements in the field.

[abccba123]

Flow Lines Installed and Bids for Well Perforation and Stimulation Granted for Heartland Coalbed Methane Field in Kansas - Additional Barnett Shale Completions Set for Palo Pinto Field in Texas

JACKSBORO, Texas, Aug 13, 2007 (BUSINESS WIRE) -- The contractor retained by Aztec Well Services, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTC BB: UPDA, UP1.F, UP1.BE, UP1.DE, UP1.MU, UP1.SG) has 90% of the flow lines in the ground and back filled on 5 wells in Heartland Oil and Gas Corp.'s (OTCBB: HTOG) (FWB: HOCA) coalbed methane field located in the Cherokee Basin in Southeastern Kansas.

On Tuesday, August 14, 2007, Double J Pipeline Construction of Baldwin, Kansas will start road bores in order to fuse the newly installed flow lines and pressure check the connections to the Clausen 24-6, Oberheide 14-8, Peckman 11-17, Peckman 41-18, and the Peckman 21-18 wells.

While Aztec continues work on the wells in Kansas, Heartland is also preparing to continue the improvement of its newly acquired properties in Texas. In Palo Pinto County, the Barron #3 was recently completed in the Barnett Shale and is flowing approximately 1 MMcf/d to the sales line. Heartland is making plans to recomplete an additional 6 wells that have Barnett Shale behind pipe and to convert an existing well or drill a new well for disposal of the water being generated.

In Jack County, Texas, Heartland has retained Schlumberger to run a cased hole log in order to help evaluate the potential for production from the Conglomerate Zone of several of its wells in the Catlin Oil and Gas Field it has recently agreed to acquire from UPDA. This work should be commenced within the week, after completion of certain road improvements in the field.

For further information, please visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas Corporation

CONTACT: Investor Relations:
Heartland Oil and Gas Corp.
Jack Baker, 561-630-2977
[e-mail]


Copyright Business Wire 2007

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=HTOG#o…

[fronekmir1]

Flow Lines Installed and Bids for Well Perforation and Stimulation Granted for Heartland Coalbed Methane Field in Kansas - Additional Barnett Shale Completions Set for Palo Pinto Field in Texas

JACKSBORO, Texas, Aug 13, 2007 (BUSINESS WIRE) -- The contractor retained by Aztec Well Services, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTC BB: UPDA, UP1.F, UP1.BE, UP1.DE, UP1.MU, UP1.SG) has 90% of the flow lines in the ground and back filled on 5 wells in Heartland Oil and Gas Corp.'s (OTCBB: HTOG) (FWB: HOCA) coalbed methane field located in the Cherokee Basin in Southeastern Kansas.

On Tuesday, August 14, 2007, Double J Pipeline Construction of Baldwin, Kansas will start road bores in order to fuse the newly installed flow lines and pressure check the connections to the Clausen 24-6, Oberheide 14-8, Peckman 11-17, Peckman 41-18, and the Peckman 21-18 wells.

While Aztec continues work on the wells in Kansas, Heartland is also preparing to continue the improvement of its newly acquired properties in Texas. In Palo Pinto County, the Barron #3 was recently completed in the Barnett Shale and is flowing approximately 1 MMcf/d to the sales line. Heartland is making plans to recomplete an additional 6 wells that have Barnett Shale behind pipe and to convert an existing well or drill a new well for disposal of the water being generated.

In Jack County, Texas, Heartland has retained Schlumberger to run a cased hole log in order to help evaluate the potential for production from the Conglomerate Zone of several of its wells in the Catlin Oil and Gas Field it has recently agreed to acquire from UPDA. This work should be commenced within the week, after completion of certain road improvements in the field.

For further information, please visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas Corporation

CONTACT: Investor Relations:
Heartland Oil and Gas Corp.
Jack Baker, 561-630-2977
[e-mail]


Copyright Business Wire 2007

[fronekmir1]

10QSB: HEARTLAND OIL & GAS CORP
TUESDAY, AUGUST 14, 2007 5:44 PM
- Edgar Online - (EDG = 10Q, 10K)

HTOG
1.14 -0.01 News


Enter Symbol:


Enter Keyword:



(EDGAR Online via COMTEX) -- Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

This discussion reports material changes from December 31, 2006 through June 30, 2007, as well as other information. We encourage the reader to also read Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-KSB for the period ended December 31, 2006.

Forward Looking Statements

This quarterly report contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to future events or to our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks enumerated in the section entitled "Risk Factors", that may cause our actual results or the actual results in our industry, of our levels of activity, performance or achievement to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Overview and Outlook

Heartland Oil and Gas Corporation is an oil and gas company primarily engaged in exploration, development, and sale of Coal Bed Methane ("CBM") in the Cherokee basin and Forest City basin of northeast Kansas. Heartland Oil and Gas Corporation holds our interest in nearly 1 million acres in eastern Kansas. We incorporated in Nevada in 1998. Heartland Gas Gathering LLC, our wholly-owned affiliate, is responsible for gas sales and operation of our pipeline and associated facilities. Heartland Oil and Gas, Inc., our wholly-owned subsidiary, operates our project areas in eastern Kansas.

Our website is located at http://heartlandoilandgas.com. The website can be used to access recent news releases and Securities and Exchange Commission (SEC) filings, our Annual Report, Proxy Statement, Board committee charters, code of business conduct and ethics, and other items of interest. SEC filings, including supplemental schedules and exhibits, can also be accessed free of charge through the SEC website at http://www.sec.gov. The information on our website, other links contained in our website and our website are not incorporated into this Report.

By the end of 2005 we contracted to sell our gas and committed funds to construct a 5.5 mile gas gathering line and processing plant to initiate gas sales from Lancaster, our largest battery. We initiated continuous gas sales in February 2006. Gas from the other three batteries is being vented while awaiting pipeline hook-up. A battery is a well or group of wells and associated production facilities in one general area.

Lancaster is currently producing approximately 300 thousand cubic feet of gas per day ("Mcfgpd"). Sales average approximately 225 Mcfgpd net of fuel gas, shrinkage, dehydration, and carbon dioxide extraction necessary to get the gas to sales quality. After processing, the gas delivered to the sales line averages 1006 million British thermal units per thousand cubic feet. The system and facilities are sized to support production growth from Lancaster, the adjacent batteries currently venting gas, and future development drilling between existing project areas. The adjacent batteries are currently venting approximately 200 Mcfgpd.

- 19 -

Liquidity and Capital Resources

At June 30, 2007, we owed $6,485,000 to two lenders. The original maturity date of the notes of March 28, 2007 was extended to April 16, 2007. On April 23, 2007 these notes were sold by the two lenders to UPDA and a shareholder of UPDA. As a condition to the closing of the Note Purchase, and in exchange for the extension of the maturity date of the Heartland Notes to December 31, 2007, the Registrant executed consents to the transfer of the Heartland Notes to UPDA and Five Star and the assignment by the Sellers of their security interests under an existing security agreement covering the Heartland Notes to UPDA.

On April 23, 2007, the Registrant completed the sale of 50,631,764 shares of its common stock to Universal Property Development and Acquisition Corporation, a Nevada Corporation ("UPDA"), in a private transaction with gross proceeds to the Registrant from the sale equaling $1,000,000 (the "Stock Sale"). The Stock Sale was pursuant to the terms and conditions of a Stock Purchase Agreement, dated April 19, 2007, between the Registrant and UPDA.

We have incurred recurring losses from operations. Our continuation is dependent upon a successful program of acquisition and exploration, and achieving a profitable level of operations. We will need to raise approximately $10 million additional financing to execute our business plan. The issuance of additional equity securities by us would result in a significant dilution in the equity interests of our current stockholders. Obtaining loans, assuming those loans would be available, would increase our liabilities and future cash commitments. We cannot assure that we will be able to obtain further funds we desire for our continuing operations or, if available, that funds can be obtained on commercially reasonable terms. If we are not able to obtain additional financing on a timely basis, we would cease our operations.

Results of Operations for the Periods Ended June 30, 2007 and 2006.

Revenue

Natural Gas Sales

Natural gas sales for the three months ended June 30, 2007 were $119,190 compared to sales of $112,734 for the three months ended June 30, 2006. This increase of $6,456 was the result of higher prices. Natural gas sales for the six months ended June 30, 2007 were $229,710 compared to sales of $168,449 for the six months ended June 30, 2006. This increase of $61,261 was the result of higher prices and higher volume. We had our first production on February 18, 2006 therefore, the six months ended June 30, 2006 represents only 173 days of production, versus 181 days of production for 2007.

Three Months Ended Six Months Ended
(Decrease) (Decrease)
June 30, 2007 June 30, 2006 Increase June 30, 2007 June 30, 2006 Increase
MCF Volume 17,711 18,295 (584 ) 34,872 28,735 6,137
Average Price $ 6.73 $ 6.16 $ .57 $ 6.59 $ 5.86 $ .73
Total Revenue $ 119,190 $ 112,734 $ 6,456 $ 229,710 $ 168,449 $ 61,261


Compression and transportation revenue

Compression and transportation revenue represents the fees charged to our royalty owners for their proportionate share of these costs; the revenue and fees associated with Heartland Oil and Gas Corp. have been eliminated on consolidation. Compression and transportation revenue for three months ended June 30, 2007 and June 30, 2006 was $6,023 and $4,565, respectively. Compression and transportation revenue for six months ended June 30, 2007 and June 30, 2006 was $11,848 and $10,251, respectively.

- 20 -

Operating expense

Three Months Ended Six Months Ended
June 30, 2007 June 30, 2006 June 30, 2007 June 30, 2006
Direct expense $ 113,430 $ 149,072 $ 187,953 $ 213,947
Exploration expense, expired leases 15,895 8,906 39,054 124,365
Depreciation, depletion & accretion 94,270 115,157 192,193 201,780
Share based compensation 10,701 101,383 19,138 232,952
General and administrative 278,460 338,429 474,635 729,875
Total operating expense $ 512,756 $ 712,947 $ 912,973 $ 1,502,919


Direct expense is the cost associated with operating producing wells and production taxes associated with the gas sales. Direct expense for the three months ended June 30, 2007 was $113,430, a decrease of $35,641 from $149,072 for the three months ended June 30, 2006. This decrease was due to lower workover costs incurred during the three months ended June 30, 2007. Direct expense for the six months ended June 30, 2007 was $187,953, a decrease of $25,993 from the same period ended June 30, 2006 or $213,947. This decrease was attributable, in part, to lower workover costs on the producing wells for the six months ended June 30, 2007.

Exploration expense represents the cost of expired leases. The cost of expired leases for the three months ended June 30, 2007 was $15,895, as compared to a cost of $8,906 for the three months ended June 30, 2006. The cost of expired leases for the six months ended June 30, 2007 was $39,054, as compared to a cost of $124,365 for the six months ended June 30, 2006. The higher costs in 2006 were the result of more leases expiring in that six month period.

Depreciation, depletion and accretion expense for the three months ended June 30, 2007 was $94,270, compared to $115,157 for the three months ended June 30, 2006. During the six months ended June 30, 2007 and June 30, 2006, the expense was $192,193 and $201,780, respectively. The decrease in expense is due to a reduction in depletion expense.

Share based compensation for the three months ended June 30, 2007 was $10,701, compared to $101,383 for the three months ended June 30, 2006. During the six months ended June 30, 2007 and June 30, 2006, the expense was $19,138 and $232,952 respectively. The decrease occurred because there were no new options issued during the period of June 10, 2005 to April 25, 2007.

General and administrative expenses for the three months ended June 30, 2007 was $278,460, compared to $338,429 for the three months ended June 30, 2006. The decrease was a result of reduced labor cost in the amount of $5,081 and overall streamlining and reduction of expenses in the amount of $48,883. During the six months ended June 30, 2007 and June 30, 2006, the expense was $474,635 and $729,875, respectively. The decrease was a result of reduced labor cost in the amount of $135,520. An additional reduction in overall administrative expenses resulted in a savings of $119,720.

Interest Income

Interest income for the three months ended June 30, 2007 and June 30, 2006 was $2,370 and $2,830, respectively. For six months ended June 30, 2007 interest income was $2,373 and for the six months ended June 30, 2006 it was $12,281. This decrease was the result of the drop in our cash position during the same time period.

Interest expense

Interest expense for the three months ended June 30, 2007 was $1,820 compared to no interest expense for the three months ended June 30, 2006. Interest expense for the six months ended June 30, 2007 was $6,298,266 compared to no interest expense for the three months ended June 30, 2006. Interest expense in the amount of $6,296,446 resulted from the effect of the conversion of $6.3 million of Preferred stock to convertible debt. The value of the debt on the date of conversion was $1 with the balance being accreted up to the face value of $6.3 million over 180 days, principally during the three months ended March 31, 2007.

- 21 -

Aug 14, 2007

(c) 1995-2007 Cybernet Data Systems, Inc. All Rights Reserved

[fronekmir1]

Ausgabe: Thu, Aug 16th 2007


Heartland Oil and Gas: Kommt ein Joint Venture mit einer Branchengröße

Letzter Kurs: 0,761 €

Mit Heartland Oil & Gas konnten Investoren in den vergangenen Tagen bereits Geld verdienen, doch die jüngste Entwicklung hat bei weitem nicht das vorweg genommen, was das Unternehmen an Perspektiven zu bieten hat. Unsere Redaktion hat sich mit Kamal Abdallah, Chef der Heartland-Konzernmutter UPDA, in Frankfurt am Main getroffen und den Unternehmenslenker zu den weiteren Aussichten befragt. Und, fast wie es zu erwarten war, kamen sehr interessante Neuigkeiten zu Tage!



Trading INSIDER : Heartland Oil & Gas hatte, bevor es von UPDA aufgekauft wurde, große Ländereien erworben. Danach ging es aber mit dem Ausbau der Projekte nicht richtig voran. Was waren die Gründe hierfür?

Abdallah: Es gab eine Anzahl verschiedener technischer Probleme, die auf die Unternehmenskultur von Heartland zurückzuführen waren. Als wir Heartland übernommen haben, UPDA ist nun der größte Anteilseigner, war es unser Planziel, mehr Assets und Produktion in die Company zu stecken. Aber es gab Meinungsverschiedenheiten. Der ehemalige Vorstandschef von Heartland, Herr Winner, wollte Belange wie eine DNO-Versicherung umgesetzt haben, bevor irgendetwas getan wird. Wir möchten den Wert von DNO-Versicherungen nicht kleiner machen, als er ist, aber wir haben uns in der Position des größten Anteilseigners gesehen. Wir sind nicht in Heartland eingestiegen, um das Management zu verklagen, denn das Management sind wir selbst. Herr Winner hat sich daraufhin entschieden, sein Amt aufzugeben und danach hat die Expansion an Fahrt aufgenommen.

In den Monaten Juni und Juli haben wir 16 Bohrungen vorgenommen und die Gesamtzahl damit von 24 auf 40 gesteigert. Dazu haben wir einen Vertrag für den Kauf weiterer Grundstücke in Texas unterzeichnet. Zudem findet ein Spinoff von UPDA-Projekten statt, die in Heartland integriert werden. Ich denke Heartland ist damit auf dem besten Weg. Die Produktion steigt täglich auf Basis neuer Bohrungen und Akquisitionen.

Trading INSIDER: Wie groß ist der Anteil an Heartland, der von UPDA gehalten wird?

Abdallah: Als wir Heartland akquiriert haben, kauften wir 52 Prozent der Aktien, zudem 4,5 Millionen Dollar von 6 Millionen Dollar der Verbindlichkeiten, die Heartland damals hatte. Die 4,5 Millionen Dollar an Forderungen wurden in 120 Millionen Aktien von Heartland konvertiert. Nach dieser Transaktion halten wir nun mehr als 80 Prozent der Aktien des Unternehmens, die ausgegeben sind.

Trading INSIDER: UPDA ist also nicht nur der größte Einzelaktionär, sondern UPDA hält tatsächlich eine sehr deutliche Mehrheit und damit die Kontrolle am Unternehmen?

Abdallah: Das ist korrekt. Gehen wir einmal zurück in die Zeit, als UPDA Heartland gekauft hat. Es war nicht der einfachste Deal. Ich hatte mich mit dem alten Board einige Male getroffen und bin zu dem Kreditgeber des Unternehmens gegangen, einem Fonds. Mit dem wurde ein Deal ausgehandelt, nämlich 4,5 Millionen Dollar an Verbindlichkeiten zu 3 Millionen Dollar zu kaufen. Wir sind danach zurück zum Heartland-Vorstand gegangen, der eine Konvertierung der Verbindlichkeiten in Aktien ablehnte. Wir hatten danach die Möglichkeit, sie vor Gericht zu zerren oder die Verbindlichkeiten fällig zu stellen. In dem Fall wäre die Gesellschaft wohl von der Börse gestrichen worden, denn die SEC-Filings waren nicht sicher.

Also haben wir einen freundschaftlichen Deal mit dem Board ausgehandelt. In diesem haben wir uns bereit erklärt, 52 Prozent der Aktien für eine Million Dollar zu erwerben. Von diesem Geld wurden 600.000 Dollar für Bohrungen genutzt, andere Gelder für die Buchprüfung sowie für andere Kosten des Unternehmens. Vor dem Closing wurden 200.000 Dollar vorgestreckt, sodass Heartland seine Rechnungen bezahlen konnte und an der Börse notiert blieb. Das hat UPDA für das Wohl der Aktionäre beider Unternehmen getan.

Trading INSIDER: UPDA hat also Ländereien, für die Heartland noch vor wenigen Jahren 22 Millionen Dollar bezahlt hat, für 4 Millionen Dollar erworben?

Abdallah: Auch das ist korrekt. Als Heartland diese Assets gekauft hat, haben sie 22 Millionen Dollar an Evergreen gezahlt und 35 Millionen Dollar an Geldern akquiriert. 10 Millionen Dollar wurden für Exploration und Produktion genutzt. Der ehemalige Vorstandschef hat 5 Millionen Dollar davon in einem Joint Venture verloren. Der Markt verlor daraufhin das Vertrauen, die Gesellschaft ging deutlich bergab und der Kurs fiel stark.

Trading INSIDER: UPDA hat also Assets eingekauft, die ein Vielfaches des Investments wert sind?

Abdallah: Die Frage ist: Was ist Heartland wert? Uns wurden für Ländereien im Norden 25 Dollar je Acre geboten und wir haben gesagt: „Nein, danke!”. Multipliziert man diese 25 Dollar nun mit einer Million Acres, so kommt man auf 25 Millionen Dollar. Und das ist nur das Land, ohne dabei irgendeine Produktion zu berücksichtigen. Aber jede Bohrung bringt uns 0,15 BCF Reserven. Wir haben nun 40 Bohrungen bei Heartland, das macht zusammen 6 BCF Gasreserven. Zusammen mit den PUD-Reserven sind dies 12 BCF an Reserven. Wenn man diesen Wert mit 7 Dollar für einen MCF Gas multipliziert, erhält man einen Wert der Reserven von 84 Millionen Dollar. Bei UPDA gehen wir also davon aus, ein gutes Geschäft abgeschlossen zu haben. Wie auch immer man das Unternehmen betrachtet, es ist mehr wert, als dafür bezahlt wurde.

Trading INSIDER: Plant UPDA, die restlichen, noch ausstehenden Heartland-Aktien aufzukaufen?

Abdallah: Die Langfristplanung von UPDA sieht es vor, Heartland als Standbein für die Explorations- und Förderaktivitäten auszubauen. Auch wollen wir bei UPDA die Anteilseigner am Erfolg dieser Strategie teilhaben lassen. Wir können es daher jederzeit ähnlich halten wie bei Continental Fuels und Aktien von Heartland an die UPDA-Anteilseigner ausschütten.

Trading INSIDER: UPDA will also den Anteil an Heartland reduzieren, aber größter Anteilseigner bleiben?

Abdallah: UPDA will größter Aktionär bei Heartland bleiben, zum Wohle von Aktionären beider Unternehmen.

Trading INSIDER: Was waren UPDAs weitere Maßnahmen nach der Übernahme von Heartland, neben der Beschleunigung der Explorationsaktivitäten?

Abdallah: Nachdem wir Heartland akquiriert hatten, haben wir die Kosten für das laufende Geschäft gesenkt. So wurde das Büro der Gesellschaft in Denver geschlossen. Die Geschäfte werden nun aus UPDAs Büro in Texas geführt, was ebenfalls Geld spart. Die Kosteneinsparungen belaufen sich auf rund eine halbe Million Dollar pro Jahr.

Trading INSIDER: Wie viel Öl und Gas wird derzeit von Heartland gefördert?

Abdallah: Als UPDA Heartland akquiriert hat, wurden aus 16 Quellen 250 MCF Gas pro Tag gefördert. Weitere 300 MCF Gas pro Tag aus 8 Quellen gingen in die Luft verloren, da eine Pipeline fehlte und Heartland nicht die benötigten Mittel für die Investition besaß. Wir haben weitere 16 Quellen gebohrt, sodass nun 40 Quellen vorhanden sind. Wir hoffen, dass – basierend auf den uns zur Verfügung stehenden Datenprotokollen – diese 40 Quellen eine tägliche Produktion zwischen einem und 1,5 Millionen Kubikfuß Gas pro Tag fördern können. Dazu kommt, wie UPDA bereits mitgeteilt hat, dass die Projekte in Palo Pinto und von Catlin Oil & Gas in Heartland integriert werden. Das neu akquirierte Projekt bringt zwischen einer und 1,5 Millionen Kubikfuß Gas an täglicher Förderung, Catlin kommt auf rund 200.000 bis 250.000 Kubikfuß Gas am Tag. Alles in allem wird Heartland Ende August eine Produktion aufweisen, die täglich oberhalb von 3 Millionen Kubikfuß Gas liegen wird.

Trading INSIDER: Wie sehen die zukünftigen Pläne für Heartland aus?

Abdallah: Wir haben nach wie vor eine Menge freier Acres und daher noch eine Menge Entwicklungsarbeit vor uns. Wir sind im Plan, mindestens zwei Quellen pro Woche neu zu bohren. Wenn wir einmal stoppen müssen, dann geschieht dies, um uns zu orientieren, in welcher Richtung die nächsten Bohrungen vorgenommen werden müssen.

Trading INSIDER: Wie viele Bohrungen werden sie dann bis Ende des Jahres vorgenommen haben?

Abdallah: Am Ende des Jahres werden 30 bis 40 weitere Quellen gebohrt sein.

Trading INSIDER: Und wie viele Bohrungen werden es am Ende des Explorationsprogrammes sein?

Abdallah: Bei unseren Liegenschaften im Norden besitzen wir langfristige Pachtverträge. Wir suchen aktiv nach Partnern, denn dies ist ein riesiges Stück Land für uns. Wir denken über den Weg eines Joint Ventures nach, denn alleine würde es uns 15 bis 20 Jahr kosten, dieses Areal zu entwickeln. Wir wurden bereits von großen Unternehmen aus der Versorgerbranche kontaktiert, die Interesse an dem Projekt haben. Entsprechende Vertraulichkeitserklärungen wurden unterzeichnet. Ich bitte daher um Verständnis: Wir können an dieser Stelle noch keine Namen nennen.

Trading INSIDER: Wann erwarten sie Neuigkeiten über diese Gespräche?

Abdallah: Wir befinden uns in der Verhandlungsphase. Wenn man mit einem großen Unternehmen zu tun hat, bewegt dieses sich oft langsamer, als man selber es tut. Wir erledigen unseren Businessplan und bohren neue Quellen. Wenn der Deal zustande kommt, ist es toll und bringt zusätzliche Werte. Wenn nicht, sind wir auch ohne diesen ok.

Trading INSIDER: Was erwarten sie zukünftig auf Seiten der Produktions- und der Reservedaten?

Abdallah: Wir sehen für Catlin eine Produktion zwischen 2 und 3 Millionen Kubikfuß Gas, für Palo Pinto von 2 Millionen Kubikfuß und Heartland dürfte weitere 2 bis 3 Millionen Kubikfuß Gas beisteuern. Insgesamt erwarten wir eine Produktion von 6 bis 7 Millionen Kubikfuß Gas pro Tag, die Ende des Jahres erreicht werden kann.

Betreffend der Reserven haben wir bei Heartland 12 BCF Gas, Catlin kommt auf weitere 5 BCF und Palo Pinto hat ebenfalls 5 BCF. Zusammen sind dies 22 BCF Gas an Reserven. Diese haben einen Gesamtwert von rund 150 Millionen Dollar.

Hinzu kommt Canyon Creek, einer von UPDAs früheren Deals. Das war mein erster Deal und ich kann nicht wirklich sagen, dass es mein bester war. Aber Canyon Creek hat eine Liegenschaft in Palo Pinto mit Ölreserven von einer Million Barrel. Dies sind weitere 70 Millionen Dollar in Reserven. Alles in allem haben wir also rund 220 Millionen Dollar förderbare Reserven.

Trading INSIDER: Eine abschließende Frage: Wann erwarten sie, dass Heartland cash-positiv arbeiten wird?

Abdallah: Sobald wir die Akquisition von Palo Pinto abgeschlossen haben, sollte Heartland cash-positiv arbeiten.

Trading INSIDER: Vielen Dank für das Gespräch!
Heartland Oil and Gas Corp
Börse: Frankfurt
WKN: A0MXUZ
Homepage: http://www.heartlandoilandgas.com/

[dondani11]

Ausgabe: Thu, Aug 16th 2007


Heartland Oil and Gas: Kommt ein Joint Venture mit einer Branchengröße

Letzter Kurs: 0,761 €

Mit Heartland Oil & Gas konnten Investoren in den vergangenen Tagen bereits Geld verdienen, doch die jüngste Entwicklung hat bei weitem nicht das vorweg genommen, was das Unternehmen an Perspektiven zu bieten hat. Unsere Redaktion hat sich mit Kamal Abdallah, Chef der Heartland-Konzernmutter UPDA, in Frankfurt am Main getroffen und den Unternehmenslenker zu den weiteren Aussichten befragt. Und, fast wie es zu erwarten war, kamen sehr interessante Neuigkeiten zu Tage!



Trading INSIDER : Heartland Oil & Gas hatte, bevor es von UPDA aufgekauft wurde, große Ländereien erworben. Danach ging es aber mit dem Ausbau der Projekte nicht richtig voran. Was waren die Gründe hierfür?

Abdallah: Es gab eine Anzahl verschiedener technischer Probleme, die auf die Unternehmenskultur von Heartland zurückzuführen waren. Als wir Heartland übernommen haben, UPDA ist nun der größte Anteilseigner, war es unser Planziel, mehr Assets und Produktion in die Company zu stecken. Aber es gab Meinungsverschiedenheiten. Der ehemalige Vorstandschef von Heartland, Herr Winner, wollte Belange wie eine DNO-Versicherung umgesetzt haben, bevor irgendetwas getan wird. Wir möchten den Wert von DNO-Versicherungen nicht kleiner machen, als er ist, aber wir haben uns in der Position des größten Anteilseigners gesehen. Wir sind nicht in Heartland eingestiegen, um das Management zu verklagen, denn das Management sind wir selbst. Herr Winner hat sich daraufhin entschieden, sein Amt aufzugeben und danach hat die Expansion an Fahrt aufgenommen.

In den Monaten Juni und Juli haben wir 16 Bohrungen vorgenommen und die Gesamtzahl damit von 24 auf 40 gesteigert. Dazu haben wir einen Vertrag für den Kauf weiterer Grundstücke in Texas unterzeichnet. Zudem findet ein Spinoff von UPDA-Projekten statt, die in Heartland integriert werden. Ich denke Heartland ist damit auf dem besten Weg. Die Produktion steigt täglich auf Basis neuer Bohrungen und Akquisitionen.

Trading INSIDER: Wie groß ist der Anteil an Heartland, der von UPDA gehalten wird?

Abdallah: Als wir Heartland akquiriert haben, kauften wir 52 Prozent der Aktien, zudem 4,5 Millionen Dollar von 6 Millionen Dollar der Verbindlichkeiten, die Heartland damals hatte. Die 4,5 Millionen Dollar an Forderungen wurden in 120 Millionen Aktien von Heartland konvertiert. Nach dieser Transaktion halten wir nun mehr als 80 Prozent der Aktien des Unternehmens, die ausgegeben sind.

Trading INSIDER: UPDA ist also nicht nur der größte Einzelaktionär, sondern UPDA hält tatsächlich eine sehr deutliche Mehrheit und damit die Kontrolle am Unternehmen?

Abdallah: Das ist korrekt. Gehen wir einmal zurück in die Zeit, als UPDA Heartland gekauft hat. Es war nicht der einfachste Deal. Ich hatte mich mit dem alten Board einige Male getroffen und bin zu dem Kreditgeber des Unternehmens gegangen, einem Fonds. Mit dem wurde ein Deal ausgehandelt, nämlich 4,5 Millionen Dollar an Verbindlichkeiten zu 3 Millionen Dollar zu kaufen. Wir sind danach zurück zum Heartland-Vorstand gegangen, der eine Konvertierung der Verbindlichkeiten in Aktien ablehnte. Wir hatten danach die Möglichkeit, sie vor Gericht zu zerren oder die Verbindlichkeiten fällig zu stellen. In dem Fall wäre die Gesellschaft wohl von der Börse gestrichen worden, denn die SEC-Filings waren nicht sicher.

Also haben wir einen freundschaftlichen Deal mit dem Board ausgehandelt. In diesem haben wir uns bereit erklärt, 52 Prozent der Aktien für eine Million Dollar zu erwerben. Von diesem Geld wurden 600.000 Dollar für Bohrungen genutzt, andere Gelder für die Buchprüfung sowie für andere Kosten des Unternehmens. Vor dem Closing wurden 200.000 Dollar vorgestreckt, sodass Heartland seine Rechnungen bezahlen konnte und an der Börse notiert blieb. Das hat UPDA für das Wohl der Aktionäre beider Unternehmen getan.

Trading INSIDER: UPDA hat also Ländereien, für die Heartland noch vor wenigen Jahren 22 Millionen Dollar bezahlt hat, für 4 Millionen Dollar erworben?

Abdallah: Auch das ist korrekt. Als Heartland diese Assets gekauft hat, haben sie 22 Millionen Dollar an Evergreen gezahlt und 35 Millionen Dollar an Geldern akquiriert. 10 Millionen Dollar wurden für Exploration und Produktion genutzt. Der ehemalige Vorstandschef hat 5 Millionen Dollar davon in einem Joint Venture verloren. Der Markt verlor daraufhin das Vertrauen, die Gesellschaft ging deutlich bergab und der Kurs fiel stark.

Trading INSIDER: UPDA hat also Assets eingekauft, die ein Vielfaches des Investments wert sind?

Abdallah: Die Frage ist: Was ist Heartland wert? Uns wurden für Ländereien im Norden 25 Dollar je Acre geboten und wir haben gesagt: „Nein, danke!”. Multipliziert man diese 25 Dollar nun mit einer Million Acres, so kommt man auf 25 Millionen Dollar. Und das ist nur das Land, ohne dabei irgendeine Produktion zu berücksichtigen. Aber jede Bohrung bringt uns 0,15 BCF Reserven. Wir haben nun 40 Bohrungen bei Heartland, das macht zusammen 6 BCF Gasreserven. Zusammen mit den PUD-Reserven sind dies 12 BCF an Reserven. Wenn man diesen Wert mit 7 Dollar für einen MCF Gas multipliziert, erhält man einen Wert der Reserven von 84 Millionen Dollar. Bei UPDA gehen wir also davon aus, ein gutes Geschäft abgeschlossen zu haben. Wie auch immer man das Unternehmen betrachtet, es ist mehr wert, als dafür bezahlt wurde.

Trading INSIDER: Plant UPDA, die restlichen, noch ausstehenden Heartland-Aktien aufzukaufen?

Abdallah: Die Langfristplanung von UPDA sieht es vor, Heartland als Standbein für die Explorations- und Förderaktivitäten auszubauen. Auch wollen wir bei UPDA die Anteilseigner am Erfolg dieser Strategie teilhaben lassen. Wir können es daher jederzeit ähnlich halten wie bei Continental Fuels und Aktien von Heartland an die UPDA-Anteilseigner ausschütten.

Trading INSIDER: UPDA will also den Anteil an Heartland reduzieren, aber größter Anteilseigner bleiben?

Abdallah: UPDA will größter Aktionär bei Heartland bleiben, zum Wohle von Aktionären beider Unternehmen.

Trading INSIDER: Was waren UPDAs weitere Maßnahmen nach der Übernahme von Heartland, neben der Beschleunigung der Explorationsaktivitäten?

Abdallah: Nachdem wir Heartland akquiriert hatten, haben wir die Kosten für das laufende Geschäft gesenkt. So wurde das Büro der Gesellschaft in Denver geschlossen. Die Geschäfte werden nun aus UPDAs Büro in Texas geführt, was ebenfalls Geld spart. Die Kosteneinsparungen belaufen sich auf rund eine halbe Million Dollar pro Jahr.

Trading INSIDER: Wie viel Öl und Gas wird derzeit von Heartland gefördert?

Abdallah: Als UPDA Heartland akquiriert hat, wurden aus 16 Quellen 250 MCF Gas pro Tag gefördert. Weitere 300 MCF Gas pro Tag aus 8 Quellen gingen in die Luft verloren, da eine Pipeline fehlte und Heartland nicht die benötigten Mittel für die Investition besaß. Wir haben weitere 16 Quellen gebohrt, sodass nun 40 Quellen vorhanden sind. Wir hoffen, dass – basierend auf den uns zur Verfügung stehenden Datenprotokollen – diese 40 Quellen eine tägliche Produktion zwischen einem und 1,5 Millionen Kubikfuß Gas pro Tag fördern können. Dazu kommt, wie UPDA bereits mitgeteilt hat, dass die Projekte in Palo Pinto und von Catlin Oil & Gas in Heartland integriert werden. Das neu akquirierte Projekt bringt zwischen einer und 1,5 Millionen Kubikfuß Gas an täglicher Förderung, Catlin kommt auf rund 200.000 bis 250.000 Kubikfuß Gas am Tag. Alles in allem wird Heartland Ende August eine Produktion aufweisen, die täglich oberhalb von 3 Millionen Kubikfuß Gas liegen wird.

Trading INSIDER: Wie sehen die zukünftigen Pläne für Heartland aus?

Abdallah: Wir haben nach wie vor eine Menge freier Acres und daher noch eine Menge Entwicklungsarbeit vor uns. Wir sind im Plan, mindestens zwei Quellen pro Woche neu zu bohren. Wenn wir einmal stoppen müssen, dann geschieht dies, um uns zu orientieren, in welcher Richtung die nächsten Bohrungen vorgenommen werden müssen.

Trading INSIDER: Wie viele Bohrungen werden sie dann bis Ende des Jahres vorgenommen haben?

Abdallah: Am Ende des Jahres werden 30 bis 40 weitere Quellen gebohrt sein.

Trading INSIDER: Und wie viele Bohrungen werden es am Ende des Explorationsprogrammes sein?

Abdallah: Bei unseren Liegenschaften im Norden besitzen wir langfristige Pachtverträge. Wir suchen aktiv nach Partnern, denn dies ist ein riesiges Stück Land für uns. Wir denken über den Weg eines Joint Ventures nach, denn alleine würde es uns 15 bis 20 Jahr kosten, dieses Areal zu entwickeln. Wir wurden bereits von großen Unternehmen aus der Versorgerbranche kontaktiert, die Interesse an dem Projekt haben. Entsprechende Vertraulichkeitserklärungen wurden unterzeichnet. Ich bitte daher um Verständnis: Wir können an dieser Stelle noch keine Namen nennen.

Trading INSIDER: Wann erwarten sie Neuigkeiten über diese Gespräche?

Abdallah: Wir befinden uns in der Verhandlungsphase. Wenn man mit einem großen Unternehmen zu tun hat, bewegt dieses sich oft langsamer, als man selber es tut. Wir erledigen unseren Businessplan und bohren neue Quellen. Wenn der Deal zustande kommt, ist es toll und bringt zusätzliche Werte. Wenn nicht, sind wir auch ohne diesen ok.

Trading INSIDER: Was erwarten sie zukünftig auf Seiten der Produktions- und der Reservedaten?

Abdallah: Wir sehen für Catlin eine Produktion zwischen 2 und 3 Millionen Kubikfuß Gas, für Palo Pinto von 2 Millionen Kubikfuß und Heartland dürfte weitere 2 bis 3 Millionen Kubikfuß Gas beisteuern. Insgesamt erwarten wir eine Produktion von 6 bis 7 Millionen Kubikfuß Gas pro Tag, die Ende des Jahres erreicht werden kann.

Betreffend der Reserven haben wir bei Heartland 12 BCF Gas, Catlin kommt auf weitere 5 BCF und Palo Pinto hat ebenfalls 5 BCF. Zusammen sind dies 22 BCF Gas an Reserven. Diese haben einen Gesamtwert von rund 150 Millionen Dollar.

Hinzu kommt Canyon Creek, einer von UPDAs früheren Deals. Das war mein erster Deal und ich kann nicht wirklich sagen, dass es mein bester war. Aber Canyon Creek hat eine Liegenschaft in Palo Pinto mit Ölreserven von einer Million Barrel. Dies sind weitere 70 Millionen Dollar in Reserven. Alles in allem haben wir also rund 220 Millionen Dollar förderbare Reserven.

Trading INSIDER: Eine abschließende Frage: Wann erwarten sie, dass Heartland cash-positiv arbeiten wird?

Abdallah: Sobald wir die Akquisition von Palo Pinto abgeschlossen haben, sollte Heartland cash-positiv arbeiten.

Trading INSIDER: Vielen Dank für das Gespräch!
Heartland Oil and Gas Corp
Börse: Frankfurt
WKN: A0MXUZ
Homepage: http://www.heartlandoilandgas.com/

[fronekmir1]

Antwort auf Beitrag Nr.: 31.181.307 von dondani11 am 16.08.07 11:17:39

doppelt hält besser wie?

[fronekmir1]

http://www.sec.gov/Archives/edgar/data/1075636/0001144204060…


http://www.sec.gov/Archives/edgar/data/1075636/0001193125062…


http://www.sec.gov/Archives/edgar/data/1075636/0001144204060…

[fronekmir1]

Corporate History

Heartland Oil and Gas Corp., was incorporated in the State of Nevada on July 9, 1998, under the name Adriatic Holdings Ltd.

Heartland is an oil and gas exploration company that, prior to our recent acquisition of certain assets from Evergreen Resources, had interests in leases covering approximately 252,000 acres in central Kansas (the “Soldier Creek project”). We have a 100% working interest in all of these leases. Our net revenue interest in these leases is approximately 85%.

On September 27, 2004 Heartland completed the acquisition of the Forest City Basin and Bourbon Arch assets from Evergreen Resources, Inc. for a purchase price of $22 million. The Forest City Basin assets consisted of all of Evergreen Resources, Inc.’s interest in all its oil and gas leases covering an aggregate of approximately 766,000 acres located in the State of Kansas, together with 60 well bores and all surface equipment, gathering and surface facilities and all geological, engineering, land and accounting data and records pertaining to these leases and assets.

After the acquisition of the Evergreen assets, Heartland held in excess of 1 million acres of prospective CBM leases at various stages of development, 88 wells, including 43 CBM wells in eight pilots that were dewatering and/or venting gas, 37 CBM wells awaiting stimulation, and 8 saltwater disposal wells. As of November 15, 2005, Heartland had leases covering approximately 1 million acres.

During 2005, Heartland established a Denver office and assembled an operating team to manage field operations, geology, engineering, land, and financial reporting required to operate the new properties. During the year, Heartland’s operational staff evaluated the exploration and development potential of its nearly 1 million acres. This included drilling of 10 test wells and 1 SWD in Miami County, well testing in several northern and southern wells, and hydraulic fracture stimulation studies. Based upon well performance results, Heartland believes that the Bourbon Arch area is now producing at economic rates with development potential. At the time of the Evergreen asset purchase the Bourbon Arch Project was producing at a combined rate of about 60 thousand cubic feet of gas per day (“Mcfgpd”) and is now currently selling or venting gas at or near 600 Mcfgpd.

Heartland has built a pipeline with processing facilities from its Lancaster pilot area to a tie-in with Enbridge Pipeline. This system has tie-in areas (“futures”) to accommodate system expansion. We are selling gross production of approximately 350 Mcfgpd, or about 250 Mcfgpd net of royalties, CO2 extraction, fuel gas and shrinkage from our Lancaster field.

[fronekmir1]

Officers & Directors

Steven A. Fall - Interim President

Mr. Fall, 57, started his professional career as an exploration geologist with Exxon Company USA where he explored for regional trends along the Gulf Coast and managed onshore projects for Columbia Gas Development. Mr. Fall also served as Vice President of Perryman Oil and Gas and was a partner with Aleco Oil and Gas where he created, marketed, and drilled in-house prospects and evaluated outside projects for the company. After working as an independent geologist for 6 years, Mr. Fall became district manager of EB Co. Mr. Fall's most recent work included a position as a business development manager for Wellspring Partners. Mr. Fall has previously consulted for such companies as Exxon, Texaco, Chevron, Pennzoil, Marathon, Merit Energy, Hilcorp, Bass Enterprises, Pennzenergy, and Mueller Engineering. Mr. Fall received his Bachelors and Masters degree in geology from Texas A&M University and continued his education with the American Association of Petroleum Geologists (AAPG) and Houston Geological Society (HGS) were he focused his studies in 3D seismic and basin analysis.


Said Abdallah - Chief Operating Officer

Mr. Abdallah, 52, has over twenty years experience as an electrical engineer and as a contractor in the oil and gas drilling, operation and maintenance industry. Mr. Abdallah is currently also the President of Aztec Drilling Corp., a wholly-owned subsidiary of the Registrant, and in that capacity he has directed the Registrant's recent well drilling activities on its Coal Bed Methane properties on the Bourbon Arch acreage in northeast Kansas. Mr. Abdallah received his Bachelors of Science degree from Youngstown State University in Youngstown, Ohio.

Kamal Abdallah – Board of Directors

Mr. Kamal Abdallah has fifteen years experience in commercial real estate investment and development. Abdallah relocated to Florida in 2000, during this time he developed a very successful real estate investment business, and concentrated on structuring and financing a variety of deals. Mr. Abdallah attended Oakland Community College and Oakland University in Michigan where he focused his studies in the area of accounting and finance.

Christopher J. McCauley – Board of Directors

Chris McCauley has 20 years experience in the areas of Real Estate and Commercial law and over 8 years in oil and gas acquisitions and operations. A graduate of Ohio State University and Cleveland-Marshall College of Law.

Ms. Eileen Himes – Controller

Ms. Himes has been Controller for Heartland Oil and Gas since April 1, 2005. She has over 20 years of management experience and expertise in all areas of oil and gas accounting. She holds a Bachelor of Science degree from the University of Houston. Ms. Himes has served as Controller for four companies and managed a staff of up to 14 direct reports. She has also served as Accounting Manager for Evergreen Resources and as Vice President and Controller for ARC Thrift Stores. Ms. Himes has been fully responsible for the accounting installation of two start-up companies, including computer conversions and loading all data for the oil and gas software. Her background also includes project management, employee benefits administration and training employees on new accounting software. She has accounted for oil and gas properties in Kansas, Colorado, New Mexico, Utah, Wyoming, Montana and Texas.

[fronekmir1]

2007

August 13 Flow Lines Installed and Bids for Well Perforation and Stimulation Granted for Heartland Coalbed Methane Field in Kansas – Additional Barnett Shale Completions Set for Palo Pinto Field in Texas
August 08 UPDA’s Catlin Subsidiary to Transfer All of its Wells and Leases to Heartland Oil and Gas Corp.
August 01 Heartland Oil and Gas Corporation Reaches Major Milestones during First Three Months since Acquisition by UPDA
July 24 Heartland Oil and Gas Corporation Assigned New Trading Symbol (OTCBB:HTOG) Reverse Split to Become Effective at Open of Trading on Wednesday


Heartland Oil and Gas Corporation Continues Drilling Program – Engages Contractor to Extend Gathering System and Connect Wells in the Cherokee Basin, Kansas
July 10 Heartland Oil and Gas Corporation Continues Drilling Program – Prepares to Complete and Connect 7 New Wells in the Cherokee Basin, Kansas
July 06 Form 8-K for HEARTLAND OIL & GAS CORP
July 02 Heartland Oil and Gas Corporation Completes Management Transformation – Receives Resignation of CEO and Appoints Interim President – Signals New Era of Asset Development
June 22 UPDA Aztec Well Services, Inc. Subsidiary Spuds Fifth Well in Cherokee Basin – Runs Logs and Sets Production Pipe
June 19 UPDA Board Updates its Shareholders on Continuing Progress
June 15 UPDA Aztec Well Services, Inc. Subsidiary Obtains Permit for Six Wells in Cherokee Basin - 3 Wells Drilled into Coalbed Seams and Productive Sands
June 14 Heartland Oil and Gas Corporation Provides Operational Update on Cherokee Basin Assets
April 23 UPDA Completes Acquisition of Heartland Oil and Gas - Prepares to Commence Drilling on One Million Acres in Kansas
January 31 Heartland Oil and Gas Engages Energy Capital Solutions LLC as Financial Advisor to Evaluate Strategic Alternatives
2006
February 21 Heartland Oil and Gas Corporation Initiates Gas Sales
February 7 Heartland Oil and Gas Completes Pipeline Hookup


2005

December 29

Heartland Oil and Gas Corp Announces Management Changes,
Operational Update
July 29 Heartland Oil & Gas Announces Gas Sales Contracts,
Provides Operational Update
May 4 Heartland Oil & Gas: International Developments
April 27 Heartland Oil & Gas Provides Operational Update
February 7 Heartland Oil & Gas Operational Update

2004
December 13 C. K. Cooper & Company Announces Presenting Companies at Its
Annual Oil & Gas Conference
October 4 Heartland Closes $44.5 Million Financing
September 28 Heartland Closes the Acquisition of the Forest City Basin Assets of
Evergreen Resources, Inc.
September 20 Heartland Signs Letter of Intent to Acquire Evergreen Resource's
Forest City Basin Kansas Assets for $22 Million
August 6 Heartland Oil and Gas Corp. Corporate Update
April 1 Corporate Update for Heartland Oil and Gas
January 26 Operations and Financial Update




2003
August 26
C. K. Cooper & Company Closes $12 Million Offering for
Heartland Oil & Gas Corp.
August 20
Heartland Secures $12 Million Financing
August 4
CBM Pilot Program Update
July 10
Heartland Makes Application to List on AMEX
March 10
Heartland Announces Closing of Private Placement
February 28
Heartland Commences Pilot Coal Bed Methane Gas Production Program



2002
October 24 Adriatic Holdings Limited Appoints Randy Buchamer to the Board
October 16 Adriatic Holdings Limited Appoints Michael Bodino to the Board
September 25 Adriatic Holdings Limited Plans 2,000,000 Unit Offering
September 18 Adriatic Holdings Limited Completes Acquisition of Heartland Oil & Gas Inc.



http://www.heartlandoilandgas.com/news.htm

[fronekmir1]

Contact Information Business Description
1625 Broadway
Suite 1480
Denver, CO 80202
United States

http://www.heartlandoilandgas.com

* Phone: [phone]
* Fax: [phone]
* E-mail: [e-mail]



*
Primary SIC — Industry Classification
3640 - Electric Lighting & Wiring Equipment

*
State Of Incorporation
NV
*
Country Of Incorporation
USA

*
Company Officers
Philip S. Winner, President, CEO, Dir.

*
SEC Reporting Status
SEC Reporting Company
*
CIK
0001075636

*
Estimated Market Cap
11,138,040.54 as of Aug 15, 2007
*
Outstanding Shares
9,770,211 as of Jul 25, 2007
*
Authorized Shares
0
*
Number of Share Holders of Record
90 as of Apr 16, 2007
*
Float
0



*
Current Capital Change
shs decreased by 1 for 10 split
Pay Date: Jul 25, 2007

*
Company Notes
o Note=12-02 company is in the development stage
o Formerly=Adriatic Holdings Ltd. until 11-02

*
Investor Relations Firm
Administrative Outsource Services, Inc.
14255 U.S. Highway 1
Suite 209
Juno Beach, FL 33408

[fronekmir1]

10QSB Aug 14, 2007 Jun 30, 2007 346.7 KB PDF RTF HTML XLS
8-K Aug 1, 2007 Jul 27, 2007 21.1 KB PDF RTF HTML XLS
8-K Jul 6, 2007 Jul 5, 2007 14.7 KB PDF RTF HTML XLS
DEFM14C Jul 3, 2007 61.4 KB PDF RTF HTML XLS
PREM14C Jun 21, 2007 Jun 19, 2007 61.4 KB PDF RTF HTML XLS
10QSB May 15, 2007 Mar 31, 2007 320.2 KB PDF RTF HTML XLS
SC 13D May 3, 2007 33.6 KB PDF RTF HTML XLS
SC 14F1 May 2, 2007 73.5 KB PDF RTF HTML XLS
10KSB/A Apr 30, 2007 Dec 31, 2006 88.5 KB PDF RTF HTML XLS
3 Apr 27, 2007 Apr 1, 2005 4.4 KB PDF RTF HTML XLS

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=htog#g…

[fronekmir1]

Aug 13, 2007 Flow Lines Installed and Bids for Well Perforation and Stimulation Granted for Heartland Coalbed Methane Field in Kansas - Additional Barnett Shale Completions Set for Palo Pinto Field in Texas
Aug 9, 2007 otcstockexchange.com: ARSC, HTOG, WLGC, FCCN - OTCStockExchange.com Stock Alert
Aug 9, 2007 Bullishalerts.com: Watch List
Aug 9, 2007 OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for August 9th CYPW, ENEC, STWG, BIPH, HTOG
Aug 8, 2007 UPDA's Catlin Subsidiary to Transfer All of its Wells and Leases to Heartland Oil and Gas Corp.
Aug 6, 2007 UPDA Catlin Subsidiary Set to Close on Acquisition of Oil and Gas Field in Palo Pinto County Texas - Current Production About 1000 mcfg/day
Aug 2, 2007 UPDA Shareholders Begin Receiving Distribution of Stock in Continental Fuels Subsidiary
Aug 1, 2007 Heartland Oil and Gas Corporation Reaches Major Milestones during First Three Months since Acquisition by UPDA
Jul 24, 2007 Stockwire.com: Speak with other shareholders about: (OTCBB: HOGC), (OTCBB: TTDS) and (OTCBB: YGDC) .
Jul 24, 2007 DanceswithBulls.com: Premier SmallCap Investor Community - Stocks to Watch for Tuesday July 24, 2007 include Heartland Oil and Gas Corp., Triton Distribution Systems, Inc. and Yukon Gold Corporation, Inc.



aktueller Newsstand

[fronekmir1]

Heartland Oil and Gas Corporation Reports Financial Results for Second Quarter 2007

HOUSTON, Aug 17, 2007 (BUSINESS WIRE) -- On August 14, 2007, Heartland Oil and Gas (OTCBB: HTOG) (FWB: HOCA) timely filed its 10-QSB (Quarterly Report) with the SEC. Although this report demonstrates significant financial achievements and improvements, it does not yet reflect the expected dramatic impact of the recent acquisition of control of Heartland by Universal Property Development and Acquisition Corporation (OTCBB: UPDA) (FWB: UP1) (BCN: UP1) (GER: UP1) (MUN: UP1) (STU: UP1).

Corporate & Financial Highlights for the three Months Ended June 30, 2007

Total Revenues Increased to $ 125,213 from $ 117,300, an increase of 6.75%

Total Operating Expenses Decreased to $ 512,756 from $ 712,947 a reduction of 28%

Net Loss from Operations Decreased to $ 386,993 from $ 592,817, a reduction of 35%

General and administrative expenses for the three months ended June 30, 2007 were $278,460, compared to $338,429 for the three months ended June 30, 2006. This decrease was a result of reduced labor costs in the amount of $5,081 and an overall reduction of expenses in the amount of $48,883. During the six months ended June 30, 2007 compared to June 30, 2006, expenses were $474,635 and $729,875, respectively. This decrease was a result of reduced labor costs totaling $135,520. An additional reduction in overall administrative expenses resulted in a savings of $119,720 from the previous year.

While the change in management resulting from UPDA's acquisition of Heartland did produce immediate operational cost reductions, the accomplishments of the aggressive drilling program instituted since that time are not yet reflected in the numbers posted during the second quarter. As previously reported, Heartland will soon bring an additional 17 new wells online and will continue drilling two new wells per week in its Cherokee Basin Coalbed Methane Field in Eastern Kansas. Further, within days, Heartland will complete the acquisition of UPDA's Catlin Oil and Gas Field in Jack County, Texas and will take control of more than 10 producing wells in Palo Pinto County, Texas.

In anticipation of the acquisition in Palo Pinto County, Heartland authorized the completion of one of the wells into the Barnett Shale pay zone, thereby increasing its production to approximately 1000 mcfg/day. In light of this success, Heartland plans to complete at least six more of those wells into the Barnett Shale by the end of the year and to drill two salt water disposal wells. Heartland has also retained the services of well services giant Schlumberger to assist in its analysis of the Jack County wells with an eye toward recompletion in previously untapped production zones.

"While these numbers show that we have achieved our initial goal of reducing expenses and streamlining operations and that we can approach profitability from current production, we have a specific business plan that we intend to execute into the future. Our focus now is to deliver an increasing amount of natural gas to market," stated Heartland CEO Steven A. Fall.

For further information, visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas

CONTACT: Heartland Oil and Gas Corporation
Investor Relations
Jack Baker, 561-630-2977
[e-mail]


Copyright Business Wire 2007

-0-

KEYWORD: United States
North America
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
Natural Resources
Mining/Minerals
SUBJECT CODE: Earnings

[fronekmir1]

UPDA Catlin Subsidiary Closes on Acquisition of Oil and Gas Field in Palo Pinto County Texas - Prepares to Transfer Exploration and Production Operations to Heartland

HOUSTON, Aug 20, 2007 (BUSINESS WIRE) -- Catlin Oil and Gas, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1) has completed the acquisition of several leases and more than 10 producing wells located in Palo Pinto County, Texas. These wells are currently producing natural gas at a rate approaching 1000 mcf/day. In addition, within the past month, the Barron # 3 well of this field was completed in the Barnett Shale and is flowing to the sales line at approximately 1000 mcfg/day and many of the other wells have been drilled into the Barnett Shale and have shown to be productive from those levels.

This acquisition will include nearly 94% of the working interest in the wells and leases and over 72% of the net revenue interest.

The acquisition is effective for all production generated by the wells since July 1, 2007. The purchase price of $3.6 million cash plus over $250,000 of closing costs included a $3.25 million conventional loan from by Sheridan Asset Management, LLC of White Plains, New York and over $600,000 cash from UPDA.

As previously reported, consistent with UPDA's plan to streamline all E & P operations into Heartland Oil and Gas Corp. (OTCBB:HTOG) (FWB:HOCA), these wells, together with UPDA's Catlin Oil and Gas Field in Jack County, Texas, will be transferred to Heartland. Heartland will assume UPDA's obligations on its loan from Sheridan Asset Management, LLC. as consideration for this transfer which will in turn substantially increase Heartland's proven reserves and immediately provide over 2000 mcf/day of natural gas production. In addition to this transfer, Heartland Oil and Gas Corp's wholly owned subsidiary, Heartland Oil and Gas, Inc., will have become authorized to do business in Texas and will be assuming control of well operations from UPDA Operators, Inc., thus completing the transfer of all UPDA exploration and production activities to Heartland.

"The revenue from July's production will be paid at the end of this month, effectively reducing the purchase price of the Palo Pinto wells by nearly $200,000 based on June's figures," reports Heartland CEO, Steven A. Fall. "And that was before we nearly doubled production when the Barron well was completed in the Barnett Shale. At least five more of those wells could show the same production when they are completed in the Barnett. This is a great opportunity for Heartland to expand into Texas, develop a solid base of conventional reserves and generate significant revenues in support of our aggressive coalbed methane programs in Kansas."

About UPDA

Universal Property Development and Acquisition Corporation www.universalpropertydevelopment.com focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the acquisition and incubation of under-funded energy ventures and cutting-edge technologies. Consistent with this business plan, UPDA has recently acquired majority ownership of two additional public companies, Heartland Oil and Gas Corp. www.heartlandoilandgas.com and Continental Fuels, Inc. (OTCBB:CFUL) (FWB:CIQB) www.continentalfuels.com, and established a private, wholly-owned subsidiary, Aztec Well Services, Inc., thereby expanding its asset base and significantly increasing its sources of potential revenue.

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.

SOURCE: Catlin Oil and Gas, Inc.

CONTACT: Universal Property Development and Acquisition
Corporation
Jack Baker (Investor Relations), 561-630-2977
[e-mail]


Copyright Business Wire 2007

-0-

KEYWORD: United States
North America
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
Utilities
SUBJECT CODE: Merger/Acquisition


HTOG News:

OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for August 20th CYPW, HWBI, HTOG, BFRE
August 20 -
UPDA Catlin Subsidiary Closes on Acquisition of Oil and Gas Field in Palo Pinto County Texas - Prepares to Transfer Exploration and Production Operations to Heartland

Catlin Oil and Gas, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1) has completed the acquisition of several leases and more than 10 producing wells located in Palo Pinto County, Texas. These wells are currently producing natural gas at a rate approaching 1000 mcf/day. In addition, within the past month, the Barron # 3 well of this field was completed in the Barnett Shale and is flowing to the sales line at approximately 1000 mcfg/day and many of the other wells have been drilled into the Barnett Shale and have shown to be productive from those levels.

This acquisition will include nearly 94% of the working interest in the wells and leases and over 72% of the net revenue interest.

The acquisition is effective for all production generated by the wells since July 1, 2007. The purchase price of $3.6 million cash plus over $250,000 of closing costs included a $3.25 million conventional loan from by Sheridan Asset Management, LLC of White Plains, New York and over $600,000 cash from UPDA.

BLUEFIRE ETHANOL (OTCBB: BFRE) "Up 5.56% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/BFRE.php

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=htog#g…

[fronekmir1]

Universal Property Development and Acquisition Corporation Reports Record Financial Results For First Half 2007

JUNO BEACH, Fla., Aug 21, 2007 (BUSINESS WIRE) -- Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1) on Monday announced financial results for its Second Quarter ended June 30, 2007 with the filing of its 10-QSB with the SEC.

Corporate & Financial Highlights on June 30, 2007

Total Assets Increased to $ 17,038,251 from $ 6,296,358, an increase of 270%

Total Revenues for 6 months Increased to $ 8,353,911 from $ 202,631, an increase of 4123%

Total Revenues for 3 months ending June 30, 2007 Increased to 7,046,002 from $ 117,553, an increase of 5994%

Natural gas sales. For the three and six months ended June 30, 2007, natural gas sales revenue was $193,384 and $264,742 compared to $19,446 and $34,477 for the same period during 2006.

Oil sales. For the three and six months ended June 30, 2007, oil sales revenue was $154,566 and $278,292 compared to $98,107 and $168,154 for the same period during 2006.

The increase in revenue from the sale of natural gas and crude oil is related to the continued expansion of UPDA's exploration and production assets, including the acquisition of Heartland Oil and Gas Corp. (OTCBB: HTOG) (FWB: HOCA).

Condensate sales. For the three and six months ended June 30, 2007, condensate sales revenue was $6,694,036 and $7,806,861 compared to ZERO for both of the same periods during 2006. There were no revenues in the same period of 2006 because initial incubation of this business activity was commenced late in 2006 and was fully undertaken by Continental Fuels, Inc. (OTCBB: CFUL), (FWB: CIQB), after this subsidiary was acquired in 2007. The increase in revenue was the result of the first sale of condensate utilizing the storage facility at the International Port of Brownsville that was transferred to Continental Fuels at the time of its acquisition.

"We have reported strong revenues and demonstrated a solid track record for accumulating assets and building revenue. Our total assets are now over $17 million our revenues exceed $8.3 million and we continue to build out as we grow and acquire properties," reported UPDA Vice President Chris McCauley. "These numbers show we are moving in the right direction and that our plan to incubate companies and develop growth through the acquisition and efficient management of underperforming energy assets is succeeding. As these assets mature and their potential continues to be realized, our shareholders will continue to benefit from this success."

About UPDA

Universal Property Development and Acquisition Corporation is focused on identifying oil & gas companies with proven energy reserves and innovative alternative energy companies with proven technologies. Once identified, the viability and potential of the targeted company is subjected to a rigorous multi-step review and investigation.

First, the potential company's financial records, legal standing and geological or technological potential are thoroughly examined by the UPDA Due Diligence Committee. If the candidate passes this test, a recommendation is made to the Acquisition Committee which conducts initial negotiations and presents its conclusions to the CEO and Board of Directors who will secure the acquisition.

Once the acquisition process is complete, the acquired company becomes a subsidiary of UPDA and the incubation process begins. UPDA provides the subsidiary with financial, legal and scientific support in order to develop its assets and perfect its innovations allowing its management to concentrate on its business plan and operational objectives.

Consistent with this business plan, UPDA has recently acquired majority ownership of two additional public companies, Heartland Oil and Gas Corp. www.heartlandoilandgas.com and Continental Fuels, Inc. (OTCBB: CFUL) (FWB: CIQB) www.continentalfuels.com, and established a private, wholly-owned subsidiary, Aztec Well Services, Inc., thereby expanding its asset base and significantly increasing its sources of potential revenue.

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.

SOURCE: Universal Property Development and Acquisition Corporation

CONTACT: Universal Property Development and Acquisition
Corporation
Jack Baker (Investor Relations), 561-630-2977
[e-mail]


Copyright Business Wire 2007

-0-

KEYWORD: United States
North America
Florida
Texas
INDUSTRY KEYWORD: Energy
Alternative Energy
Oil/Gas
SUBJECT CODE: Earnings

[Klausken]

Antwort auf Beitrag Nr.: 31.240.196 von fronekmir1 am 21.08.07 14:39:28

Guten Tag,

das Filing liest sich mal sehr sehr gut!! Bei manchen Unternehmen sackt es ganz schön ab nach Veröffentlichung weil die Zahlen so schlecht sind. Das ist hier nicht der Fall, das sollte die Anleger in ihrer Entscheidung bestärken!!

[fronekmir1]

Antwort auf Beitrag Nr.: 31.240.255 von Klausken am 21.08.07 14:43:34

Fakten Thread???


Heartland Prepares to Complete First New Wells in Cherokee Basin - Cased Hole Gamma Ray and Neutron Logs to be Performed - Pipeline Connections Completed

HOUSTON, Aug 22, 2007 (BUSINESS WIRE) -- Aztec Well Services, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), is preparing to complete the following wells in the Cherokee Basin Coalbed Methane Field owned by Heartland Oil and Gas Corp (OTCBB:HTOG) (FWB:HOCA): Clausen 24-6, Oberheide 14-8, Warring 31-8, Peckman 11-17, 41-18, 21-18, 23-8, 22-8, Reichart 44-3, McFarlane 44-4.

In order to complete the wells, a cased hole gamma/neutron log will be run to provide a correlation to the open hole log. The perforation recommendations from the open hole log will then used to find the corresponding area on the cased hole log. A perforating gun will be used to shoot the intervals to be perforated. The stimulation company will then rig up to acidize and prep to frac (in multiple stages) the perforated intervals. Once the frac is complete, the well will be swabbed, if necessary, to unload the fluid and the well should start to flow.

The wells to be completed are the first drilled in this field in over a year in this field and have already been connected to the gathering system and will be brought online as soon as they are completed. Down hole pumps and the other equipment necessary to produce the wells have been organized and electric service to the field is being modernized as necessary.

While completion plans are being finalized, Aztec has performed routine maintenance on its drilling equipment in anticipation of the second phase of the drilling program. Heartland has ordered updated title work for the 40 new drilling locations to be included in this second phase.

For further information, visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas Corporation

CONTACT: Heartland Oil and Gas Corporation
Jack Baker (Investor Relations), 561-630-2977
[e-mail]


Copyright Business Wire 2007

-0-

KEYWORD: United States
North America
Texas
INDUSTRY KEYWORD: Energy
Coal
Oil/Gas
Natural Resources
Mining/Minerals

[fronekmir1]

UPDA Advances Operations and Production at Catlin and Palo Pinto Oil and Gas Fields Slated for Transfer to Heartland

HOUSTON, Aug 28, 2007 (BUSINESS WIRE) -- Consistent with its successful strategy for growth, Universal Property Development and Acquisition Corporation (OTC BB: UPDA, UP1.F, UP1.BE, UP1.DE, UP1.MU, UP1.SG) has initiated plans to complete the incubation of its Texas production subsidiary, Catlin Oil and Gas, Inc. in advance of the transfer of its assets to Heartland Oil and Gas Corp. (OTC BB: HTOG) (FWB: HOCA).

In the Catlin Field in Jack County, Texas, UPDA installed 2 new 40 HP compressors on its pipeline and increased the amount of gas it is delivering to market by nearly double from 170 mcfg/day to 322 mcfg/day and performed repairs to its disposal well resulting in a savings of almost $10,000 per month in disposal costs.

On Tuesday, Schlumberger will run the cased hole log on the Ruth 10 well after UPDA last week pulled the tubing and prepared the well for testing.

"This log will give us a template to produce additional behind pipe zones in not just the Ruth 10 but also for the many other conglomerate wells we have here in the Catlin Field," explains Steven A. Fall, the president of both Catlin and Heartland. "It will probably take at least a week before we will have the final computer version of the log, but once we have that, we will start a recompletion program that could significantly improve production. As we proceed toward the successful transfer of UPDA's oil and gas production assets into Heartland, the condition and operation of these wells and assets is at its highest level and the opportunity for improvement has been designed for execution."

At the newly acquired natural gas field in Palo Pinto County, Texas, plans are underway for the installation of a disposal well to handle the additional water expected to be produced as those wells are recompleted in the Barnett Shale. As previously reported, the first well recompleted in this program showed an increase in production to about 1000 mcfg/day. After meeting with the consulting engineer on this project, John Evans, management will establish a schedule to provide for the efficient expansion of production from these wells.

Universal Property Development and Acquisition Corporation (OTCBB: UPDA) (FWB: UP1) (BCN: UP1) (GER: UP1) (MUN: UP1) (STU: UP1) www.universalpropertydevelopment.com acquired a majority of the stock of Heartland Oil and Gas Corp (OTCBB: HTOG) (FWB: HOCA) in April 2007 and designated Heartland to pursue all of UPDA's oil and gas exploration and production activities. Since this acquisition, a new management team was introduced at Heartland, led by veteran geologist, Steven A. Fall, the president of UPDA's Catlin Oil and Gas subsidiary and Heartland has undertaken an aggressive drilling program at its Cherokee Basin Coalbed Methane Field, consisting of approximately 100,000 acres in Eastern Kansas while UPDA completed plans for the expansion, improvement and assignment to Heartland of its assets, leases, pipelines and wells in Northern Texas.

For further information, visit www.heartlandoilandgas.com

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.

SOURCE: Universal Property Development and Acquisition Corporation

CONTACT: Universal Property Development and Acquisition
Corporation
Investor Relations:
Jack Baker, 561-630-2977
[e-mail]


Copyright Business Wire 2007

-0-

KEYWORD: United States
North America
Texas
INDUSTRY KEYWORD: Energy
Alternative Energy
Oil/Gas
Other Energy
Natural Resources
Other Natural Resources

[fronekmir1]

Ausgabe: Tue, Aug 28th 2007


Heartland Oil and Gas: Ölperle bereitet Kursexplosion vor

Letzter Kurs: 0,83 €

Es ist fast wie bei einer Hochzeit. Zuerst macht man sich hübsch und dann kommt der Bräutigam und entführt die Braut in eine schöne Zukunft. Manches davon erinnert an das, was gerade bei Universal Property Development and Acquisition Corporation, kurz UPDA, abläuft. Die Braut ist dabei Catlin Oil and Gas. Der Bräutigam ist Heartland Oil and Gas (HOCA; WKN: A0MXUZ). Für die erfolgreiche Zukunft sorgen dabei die ausgezeichneten Perspektiven, die allen Beteiligten gemein sind.

Auf dem Catlin Feld in Jack County im Bundesstaat Texas hat UPDA zwei neue Megakompressoren installiert. Diese leisten ganze Arbeit. Die Gasauslieferung an den Markt wird in diesen Tagen von täglich 170 mcfg auf 322 mcfg erhöht. Das ist fast eine Verdopplung. So generiert man weitere Umsätze und macht damit Catlin noch wertvoller und interessanter. Damit aber noch nicht genug. Auf dem Feld wird auch an einer Verbesserung der Infrastruktur gearbeitet. Konkret geht es um Reparaturen an der Versenkbohrung. Diese Verbesserung verringert die anfallenden Entsorgungskosten deutlich. Die Rede ist von bis zu 10.000 Dollar pro Monat. Aufs Jahr umgerechnet ergibt dies eine Ersparnisse von deutlich über 100.000 Dollar, was sich natürlich auf künftige Gewinne positiv niederschlagen wird.

Im nächsten Schritt kümmert man sich um die Verkleidung des Loches Ruth 10. Von den dortigen Ergebnissen erhofft man sich auch Rückschlüsse auf den Zustand der anderen Bohrlöcher. Entsprechend will man im Anschluss entscheiden, wie bei den übrigen Löchern weiter verfahren werden soll. Dazu bedarf es jedoch komplizierter Berechnungen mit Hilfe des Computers. Bis alle Daten darin eingegeben und verarbeitet sind, wird es ein paar Tage dauern. Doch danach wird vieles deutlicher. Dann steht fest, wie das Wiederherstellungsprogramm für das gesamte Feld erfolgen soll. Man will diese Verbesserungen genau jetzt durchführen. Damit soll der neue Besitzer, Heartland Oil and Gas, nicht belastet werden. Außerdem steigert es den Wert der zu übertragenden Assets deutlich, wenn alles tipptopp ist. Es wird danach nicht mehr lange dauern, bis alles bei Heartland landet. Einen genauen Termin hat man jedoch bislang nicht veröffentlicht. Doch das sollte nicht mehr lange dauern. Vereint in der neuen Mutter kann man dann noch schlagkräftiger agieren.

Auch auf den neu gekauften Feldern in Palo Pinto arbeitet man intensiv an der Verbesserung der Förderung. So ist es erst kürzlich gelungen, bei der ersten Quelle, das wieder aktiv betrieben wird, die Förderung um täglich 1000 mcfg zu erhöhen. Diese effektive Prozedur will man fortführen. Daher arbeitet man gerade an einem Plan, auch die weiteren Löcher auf dem Gebiet zügig weiter aufzurüsten. So soll das Fördervolumen deutlich gesteigert werden. Mit dem Wasser, das ebenfalls aus den Bohrungen herauskommt, hat man genaue Pläne. Hier soll ein Entsorgungsloch für Abhilfe sorgen.

Wie bei UPDA und den Töchtern üblich, ist also alles bestens geplant. Man hat die Situation im Griff. Die Übertragung der Assets auf Heartland Oil wird für eine weitere Steigerung der Effizienz sorgen. Damit ist alles in einer Hand, zusätzliche Synergien sind möglich. Dies wird sich auch auf den Kurs auswirken, der momentan noch in einer Seitwärtstendenz agiert. Es ist nur eine Frage der Zeit, bis diese nach oben durchbrochen wird.
Heartland Oil and Gas Corp
Börse: Frankfurt
WKN: A0MXUZ
Homepage: http://www.heartlandoilandgas.com/

[fronekmir1]

Heartland Oil and Gas Corporation Completes Testing on Flow Lines and Prepares to Complete and Attach New Wells in Cherokee Basin Coalbed Methane Field

BALDWIN, Kan., Aug 29, 2007 (BUSINESS WIRE) -- Continuing the progress of its aggressive drilling program in Kansas, Heartland Oil and Gas Corp. (OTC BB: HTOG) (FWB: HOCA) has completed the last of the tests required on the recently installed flow lines including pressure checking the connections to the wells. Heartland's pipeline contractor on the project, Double J Pipeline Construction of Baldwin, Kansas, has attached all the flow lines from the new wells to the field lines and back filled the trenches. Cates Surveying provided support for this pipeline project by performing right of way surveys on several locations in the Lancaster Pilot.

This week, cased hole logs are being run on the first eleven of the wells in preparation for the perforating and frac crews to get started this week to complete the wells and attached them to the sales line. Heartland has selected Maverick Stimulation Company from the several completion bids compiled by Aztec Well Services, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB: UPDA) (FWB: UP1), in its role as coordinator of the field program.

Last week, JACAM Chemicals reviewed potential compressor sites to install a salt water treatment pump and took gas and water samples to determine how much chemical would be needed in order to treat the gas before delivery to market. On Saturday, another well location was staked and Heartland started gathering information for title work on the 4 new locations it has staked in preparation for more drilling. Next week, that information will be transmitted to The Miami Title Company in order to confirm lease information.

For further information, visit www.heartlandoilandgas.com.

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.

SOURCE: Heartland Oil and Gas Corp.

CONTACT: Heartland Oil and Gas Corp.
Jack Baker (Investor Relations), 561-630-2977
[e-mail]


Copyright Business Wire 2007

-0-

KEYWORD: United States
North America
Kansas
Texas
INDUSTRY KEYWORD: Energy
Coal
Oil/Gas
Other Energy
Natural Resources
Mining/Minerals
SUBJECT CODE: Product/Service

[fronekmir1]

UPDA Updates its Shareholders on Continuing Operations

SAN ANTONIO, Sep 04, 2007 (BUSINESS WIRE) -- The Board of Directors and the Management of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) customarily issue updates in an effort to keep our shareholders informed on the operations of UPDA and its subsidiaries.

Our efforts to mainstream our operations have resulted in the creation of three subsidiaries: Heartland Oil and Gas Corp. (OTCBB:HTOG) (FWB:HOCA) has been established as our exploration and production subsidiary; Continental Fuels, Inc. (OTCBB:CFUL) (FWB:CIQB) is our trading and marketing arm, and Aztec Well Services was created as our oilfield and drilling subsidiary.

Separating our businesses in this manner makes economic sense. First, it defined and created shareholders' value. Our shareholders now recognize and know the value of their investments by assessing each individual company and evaluating any spin off they receive or might receive in the future. Second, each subsidiary is more focused on its core business and the individual management teams are executing their plans and visions without distraction. In fact, each CEO has developed his own plan for growth. Third, separating the companies allowed each subsidiary to pursue financing without encumbering the sister companies simplifying the process for our lenders, resulting in less dilutive financing.

In this update, we will attempt to detail, as much as possible, the operations of each subsidiary:

Heartland Oil and Gas (HTOG) owns leases on approximately 1 million acres in Kansas, including the Cherokee Basin and the Forest City Basin and as of October 1, 2007 will be assigned all of the Texas leases owned by our Catlin Oil and Gas subsidiary, including its original leases in Jack County and the newly acquired leases in Palo Pinto County. The management of Heartland has developed a plan to expand production from each of these locations.

Current production from the 24 wells in the Cherokee Basin Coalbed Methane Field in Eastern Kansas is 600 mcfg/day although only 8 wells are connected to the sales line resulting in the delivery of 250 mcfg/day to market. HTOG intends to drill approximately 300 new wells in the next three years. To date, 17 new wells have been drilled (which brings the total to 41) and 5 will be completed next week. HTOG needs to extend its pipeline 18 miles to connect all the oncoming wells.

In Texas, the Catlin Field in Jack County is producing approximately 325 mcfg/day and the Palo Pinto Field was averaging 900 mcfg/day prior to its acquisition. These numbers do not include any down time.

The Catlin plan calls for re-completions of certain wells based on an engineering study and new logs conducted by Schlumberger on the Ruth lease. The new logs will give us additional insight on potential production zones and will assist in deciding in which zones wells will be recompleted.

In Palo Pinto County, Heartland is formulating a plan to complete a salt water disposal well in order to recomplete 6 additional wells in the Barnett Shale.

Once these plans are carried out, the expected value Heartland's reserves from these properties (present value discounted at 10%) will exceed $100 million.

When UPDA acquired Heartland, its income was approximately $45,000 per month and its expenses were about $100,000 per month. Our objective was to turn HTOG into a profit center, so we reduced the payroll and closed the Denver office which resulted in annual savings of about $500,000. The assignment of the Catlin leases, including Palo Pinto, will add approximately $200,000 of monthly revenue to HTOG, less debt service. Aztec, our subsidiary, financed most of the cost to drill and complete the 17 wells.

Achieving positive cash flow, accompanied by proven reserves, is the least expensive way to finance the planned expansion of Heartland. UPDA is the largest shareholder of HTOG and our objective is to make HTOG bankable because bank financing is the least dilutive.

Continental Fuels, Inc. (CFUL) is our trading and marketing subsidiary. It owns a 48,000 barrel terminal at the International Port of Brownsville. With the ongoing capital improvements underway at this facility, its capacity will be doubled by adding new tanks and investing in a railroad spur.

We envision CFUL to be the marketer of all that is produced by our subsidiaries, whether it is crude oil, natural gas, biofuel or some other alternative energy. At the present time, Continental is trading in condensate (light crude), receiving product on trucks and shipping it out in barges and on rail.

UPDA originally provided Continental the Brownsville Terminal and over $2 million in lines of credit. CFUL ran its first and second test shipments in March and May of 2007. Once the model was proven, CFUL began executing on its business plan in June 2007. During the second quarter, Continental generated approximately $5.7 million in revenues and $400,000 in gross profits. It should be noted that approximately 80% of the revenues were generated in June, while the expenses were incurred over the course of the entire quarter.

CFUL has quickly become an operational profit center. In fact, sales for the months of July and August exceeded $8 million and gross profit exceeded $700,000 for the first two months in the third quarter.

Continental's management has developed an ambitious growth model. They intend to expand into gas marketing, fuel blending, oil pick up and trading of refined products, including low sulfur diesel on barges or in pipeline. On the international front, CFUL has developed very valuable relationships and in the near future will open offices to facilitate its international trading business.

Aztec Well Services is our drilling and field services unit. It has equipment and personnel capable of drilling 10 wells per month on Heartland's Kansas leases and providing additional technical assistance when needed. Aztec is also assisting in the expansion of Heartland's Kansas Pipeline from the Jake Pilot to the Lancaster Pilot, across to the Beagle Pilot in order that Heartland can deliver all of its production to market.

In Kansas, Heartland and Aztec have established a turnkey drilling contract whereby Heartland selects drilling locations based on gas in place maps and other factors and Aztec spuds and drills the wells and manages their completion and connection.

Aztec is also pursuing third party contracts and is considering expanding into the well testing and the tank storage business. Aztec is rapidly becoming a profit center and its management is continuously exploring opportunities to increase its business.

The management of UPDA is very excited to see its subsidiaries developing in this successful manner and is willing to provide the needed support to assist them build, grow and prosper. At UPDA, we centralized some of the services to keep our operating costs low. UPDA provides and supervises all legal services including, but not limited to, contractual, SEC and compliance issues. Our staff provides SEC accounting and controls human resources, payroll and benefits. UPDA provides all the investors' relations and public relations services, including websites, communication, press releases and other content. Above all, UPDA assists in all mergers and acquisitions (M&A) which includes due diligence and financing.

UPDA will continue to add to its group of companies, with a concentration on conventional, unconventional and renewable energy. At the same time, we will assist our subsidiaries to grow and establish themselves as profit centers and strategic companies. The challenges at the moment include aligning ourselves with reliable, inexpensive, less dilutive money sources and continuing deal flows, both domestic and international.

We take this opportunity to thank our shareholders.

UPDA Board and Management

About UPDA

Universal Property Development and Acquisition Corporation is focused on identifying oil & gas companies with proven energy reserves and innovative alternative energy companies with proven technologies. Once identified, the viability and potential of the targeted company is subjected to a rigorous multi-step review and investigation.

First, the potential company's financial records, legal standing and geological or technological potential are thoroughly examined by the UPDA Due Diligence Committee. If the candidate passes this test, a recommendation is made to the Acquisition Committee which conducts initial negotiations and presents its conclusions to the CEO and Board of Directors who will secure the acquisition.

Once the acquisition process is complete, the acquired company becomes a subsidiary of UPDA and the incubation process begins. UPDA provides the subsidiary with financial, legal and scientific support in order to develop its assets and perfect its innovations allowing its management to concentrate on its business plan and operational objectives.

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.

SOURCE: Universal Property Development and Acquisition Corporation

CONTACT: Universal Property Development and Acquisition
Corporation
Jack Baker (Investor Relations), 561-630-2977
[e-mail]


Copyright Business Wire 2007

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KEYWORD: United States
North America
Florida
Kansas
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
Utilities
Other Energy
Environment
SUBJECT CODE: Product/Service

[fronekmir1]

Antwort auf Beitrag Nr.: 31.431.999 von fronekmir1 am 07.09.07 08:15:20

Heartland Oil and Gas Corp Perforates Five Wells and Prepares to Drill Nine Additional Wells in Cherokee Basin Coalbed Methane Field

BALDWIN, Kan., Sep 10, 2007 (BUSINESS WIRE) -- Continuing the progress of its aggressive drilling program in Kansas, Heartland Oil and Gas Corp. (OTCBB:HTOG) (FWB:HOCA) has perforated the casing of five of the 17 wells it recently drilled in its Cherokee Basin Coalbed Methane Field in Southeastern Kansas. As a result of this work, gas is flowing from several of the wells prior to the fracturing of the reservoirs.

"This flowing gas is obviously a very positive sign," confirms Heartland CEO Steven A. Fall. "While we expect gas to flow once we frac the sands and coal seams, the fact that gas is flowing before stimulation and without de-watering the wells demonstrates significant pressure. From initial results, we expect these first five wells to double our production from this field to over 600 mcfg/day."

While Heartland continues the completion of the 17 newly drilled wells, it has also received permits for 4 more wells and applied for permits for another 5, bringing the total number of wells drilled or to be drilled in that field to 50.

"We are establishing very efficient procedures that will allow UPDA subsidiary, Aztec Well Services, to move forward with the drilling program while additional contractors perform completion procedures and others extend the pipeline and attach the wells to the sales line," continued Heartland CEO Fall. "The activity in the field is very impressive."

In April 2007, Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA acquired additional wells and acreage in Palo Pinto County, Texas with current production of approximately 1000 mcfg/day and will soon transfer those wells as well as all of its wells and acreage in Jack County, Texas to Heartland.

For further information, visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas Corp.

CONTACT: Heartland Oil and Gas Corp.
Jack Baker (Investor Relations), 561-630-2977
[e-mail]


Copyright Business Wire 2007

-0-

KEYWORD: United States
North America
Kansas
Texas
INDUSTRY KEYWORD: Energy
Coal
Oil/Gas
SUBJECT CODE: Product/Service
Photo/Multimedia

[fronekmir1]

schade das sich hier keiner Beteiligt..... würde doch nur dem invest ein wenig helfen, alle News auf einen Blick

[fronekmir1]

Heartland Oil & Gas:
Produzent mit glänzenden Zukunftsperspektiven

Bei Heartland Oil & Gas (ISIN US42235Q2003/ WKN A0MXUZ) handelt es sich um ein ausgesprochen interessantes Unternehmen, das sich auf die Förderung und Exploration von Öl und Gas spezialisiert hat. Die Gesellschaft ist aufgrund seiner Spitzen-Liegenschaften gut aufgestellt, um von dem weltweit wachsenden Energiebedarf zu profitieren.

Heartland Oil & Gas verfügt im amerikanischen Bundesstaat Kansas über Liegenschaften mit einer Fläche von rund 1 Mio. Acres, inklusive des Cherokee Basin und des Forest City Basin. Zu Beginn dieser Woche konnte das Unternehmen zudem mit positiven News erfreuen, auf die wir noch später zu sprechen kommen werden.

Vor einigen Monaten übernahm das Unternehmen UPDA eine Mehrheit an der vor 9 Jahren gegründeten Heartland Oil & Gas und stattete das Unternehmen mit Cash und jeder Menge Management-Know-how aus.

Die aktuelle Produktion des Unternehmens aus den 24 Quellen im Cherokee Basin, welches sich im Osten von Kansas befindet, liegt derzeit bei 600 MCF Gas pro Tag.


KAUFEN!

Kurs (10.09.07): 0,72 EUR

ISIN: US42235Q2003
WKN: A0MXUZ
Symbol: HOCA.FSE

Marktsegment:
Freiverkehr

Branche: Rohstoffe

Homepage:
www.heartlandoilandgas.com


In den letzten Monaten wurden zudem 17 weitere Quellen gebohrt, von denen sich laut Pressemitteilung vom vergangenen Montag fünf in den Vorbereitungen zur Aufnahme der Förderungen befinden.

Diese fünf Quellen haben es offensichtlich wahrlich in sich, denn das Gas strömte bei einigen schon heraus, noch bevor man mit der Stimulation der Quelle begonnen hatte. Dies ist sehr positiv zu bewerten, da es ein Beweis für den hohen Druck ist, der dort unten herrscht. Durch die fünf zusätzlichen Quellen wird die Produktion des Feldes mehr als verdoppelt.

Doch dies ist nicht die einzige positive Tatsache, die sich in der jüngsten Pressemitteilung verbirgt. So verkündete das Unternehmen, dass es die Genehmigungen für vier weitere Quellen erhalten und für fünf weitere beantragt habe. Insgesamt soll die Zahl der bereits gebohrten und noch zu bohrenden Quellen auf 50 erhöht werden. Die dortigen Bohrarbeiten werden von den Spezialisten von Aztech Well Services, einer weiteren Tochtergesellschaft von UPDA, vorgenommen.

Demnächst sollen diese Quellen an das Pipelinenetz angeschlossen werden und somit für einen stabilen und noch höheren Cash Flow bei Heartland Oil & Gas sorgen.

Auch bei seinen weiteren Projekten erzielt das amerikanische Unternehmen schnelle Fortschritte. Erwähnenswert ist, dass UPDA bald seine Liegenschaften in Palo Pinto County und Jack County, die sich beide in Texas befinden, an Heartland Oil & Gas übertragen wird. Diese Gasquellen produzieren täglich 1.000 MCF und sind damit für das Unternehmen von großer Bedeutung.

Ein wichtiger Aspekt bei Unternehmen, die im Rohstoffsektor agieren, ist die Qualität des Managements. Auch hier kann Heartland Oil & Gas aus dem Vollen schöpfen: Mit dem Präsidenten Steven Fall verfügt das Unternehmen über einen Rohstoffexperten, der seine umfangreichen Erfahrungen unter anderem bei verschiedenen Branchenriesen sammelte. Der studierte Geologe war beispielsweise für Exxon, Texaco, Chevron und Marathon tätig. Bei Perryman Oil & Gas hatte er den Posten den Vizepräsidenten inne.

Im Board of Directors von Heartland Oil & Gas befindet sich außerdem Kamal Abdallah, der ein ausgesprochener Finanzfachmann und des Weiteren auch Firmenchef des Mehrheitsanteilseigners UPDA ist. Er hat in der Vergangenheit bereits bewiesen, wie man erfolgreich Geschäfte aufbaut.

Es ist das erklärte Ziel des Managements, einen positiven Cash Flow zu erzielen und die Reserven auszubauen, um die Expansion weiter zu führen. Dies ermöglicht dem Unternehmen die Unterstützung der Banken bei der Finanzierung der Wachstumsstrategie und ist ein Vorteil gegenüber vielen anderen Rohstoffunternehmen, die komplett auf Kapitalerhöhungen setzen und die Aktie damit verwässern.

Die schnellen Fortschritte und die positiven News der letzten Tage sind noch nicht hinreichend im Aktienkurs berücksichtigt. Die Börsenturbulenzen im August haben auch bei diesem Wertpapier für günstige Einstiegskurse gesorgt. Wir halten die Aktie deshalb für attraktiv und rechnen mit steigenden Kursen.

Ihre Redaktion von Global SmallCap Report
www.global-smallcap-report.com


Besuchen Sie uns auf unserer Homepage www.global-smallcap-report.com und lesen Sie unsere aktuellen Research Reports.

[fronekmir1]

Heartland Oil and Gas Corp. Negotiates for Pipeline Extension in Advance of Additional Drilling and Well Completions and Connections

SPRING HILL, Kan., Sep 13, 2007 (BUSINESS WIRE) -- Heartland Oil and Gas Corp. (OTCBB:HTOG) (FWB:HOCA) has negotiated to extend its contract with Double J Pipeline Construction of Baldwin, Kansas in order to connect additional wells to the sales line in its Cherokee Basin Coalbed Methane Field in Southeastern Kansas. In phase one of this project, the pipeline will be extended by 6 miles to connect 18 additional wells, including one of the previously completed wells that has been venting natural gas for over one year.

"With the assistance of Double J and UPDA's Aztec Well Service subsidiary as well as other subcontractors, we expect to permit, drill, complete and connect as many as 5 new wells per week," reports Heartland CEO Steven A. Fall. "Aztec is ready to begin drilling on the 4 sites we recently permitted while our land department finalizes the title work and application process for 5 more. At the same time, our completion contractor is perforating the wells we recently drilled while Double J connects them to the gathering system."

In addition to the work being performed at its Lancaster and Jake Pilots, Heartland is also negotiating with landowners near its Osawatomie and Beagle Pilots in order to obtain rights of way to connect seven more venting wells to the sales line and further develop drilling programs in those areas.

About Heartland Oil and Gas Corp.

In April 2007, Universal Property Development and Acquisition Corporation (OTC BB: UPDA) (FWB: UP1) acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA acquired additional wells and acreage in Palo Pinto County, Texas with current production of approximately 1000 mcfg/day and will soon transfer those wells as well as all of its wells and acreage in Jack County, Texas to Heartland.

For further information, visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas Corp.

CONTACT: Heartland Oil and Gas Corp.
Jack Baker (Investor Relations), 561-630-2977
[e-mail]


Copyright Business Wire 2007

-0-

KEYWORD: United States
North America
Kansas
Texas
INDUSTRY KEYWORD: Energy
Coal
Oil/Gas
Utilities
Other Energy

[fronekmir1]

Heartland Oil and Gas Corp. Successfully Fractures Sand Zones of Five Wells - Prepares to Fracture Coal Seams in Cherokee Basin

PAOLA, Kan., Sep 17, 2007 (BUSINESS WIRE) -- Continuing the progress of its aggressive drilling program in Kansas, Heartland Oil and Gas Corp. (OTCBB:HTOG) (FWB:HOCA) has successfully fractured sand zones of five of the 17 wells it recently drilled in its Cherokee Basin Coalbed Methane Field in Southeastern Kansas as it prepares to turn each of the wells to production.

The five wells fractured in the Cattleman's sand were the Clausen, the Oberheide, the Peckman 11-17, the Peckman 41-18 and the Peckman 21-18. Each has now been shut in at the well head to retain the frac sand and equalize pressure. They will then be swabbed to remove the injected water and tested.

"Once we determine the production from these sand reservoirs, we will go back in and frac the coal seams," reports Heartland CEO Steven A. Fall. "In light of the gas pressures we were experiencing before we fractured the sand, we are very optimistic about the results we expect after the fracs."

About Heartland Oil and Gas Corp.

In April 2007, Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA acquired additional wells and acreage in Palo Pinto County, Texas with current production of approximately 1000 mcfg/day and will soon transfer those wells as well as all of its wells and acreage in Jack County, Texas to Heartland. For further information, visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas Corp.

CONTACT: Heartland Oil and Gas Corp.
Jack Baker (Investor Relations), 561-630-2977
[e-mail]


Copyright Business Wire 2007

-0-

KEYWORD: United States
North America
Kansas
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
Other Energy
Natural Resources
Mining/Minerals

[fronekmir1]

Pinnacle Digest: Development at Cherokee Basin Spur Interest

Sep 18, 2007 (M2 PRESSWIRE via COMTEX) -- At www.pinnacledigest.com we aim to provide investors with a more comprehensive and informative approach to the market and sector in which their company operates within.

Heartland Oil and Gas Corp. (OTCBB:HTOG) (FWB:HOCA) experienced a significant loss Monday along with 327,688 shares traded. On September 17th they announced that they have successfully fractured sand zones of five of the 17 wells it recently drilled in its Cherokee Basin Coalbed Methane Field in Southeastern Kansas. Our team at PinnacleDigest has taken notice of this announcement and as a result of it, has initiated a review upon them and their position in the market.

We are focused on their immediate future moving forward, but more importantly the trend of the sector most influencing their success. It should be noted that they are preparing to turn each of the wells to production. To follow up with Heartland Oil and Gas Corp and to find out exactly how our online financial magazine can benefit you as an investor, visit us at www.pinnacledigest.com.

At PinnacleDigest we are currently focused on the small to mid cap markets, specifically the mining and energy based companies within North America. Our main goal has and will always be to enhance our members approach to the market, while adding additional research.

In respect to mining companies the ongoing threat of reduced demand for resources is the issue most worrying these companies. We believe the markets are beginning to stabilize after erasing losses from the last 2 weeks. The markets retreated as whole on Monday. We have our eye on the oil and gas sector at PinnacleDigest as the price of oil continues to trade at historically high levels. Canadian stocks have put together a nice rally, climbing to their highest level in six weeks. Lower bowering costs and a continued rise in the price of oil have been leading this optimism. The TSX Composite moved down 36.55 points Monday closing at 13809.86.

There has been a lot of hype surrounding Countrywide Financial Corp. the largest US mortgage company which soared the most in seven years after securing 12 billion in financing late in the week. The financial sector took a hit Monday reinforcing the obvious fact that the markets have a long way to go before regaining stability and positive momentum. The Dow average fell 39.1 points after their largest weekly gain since April to close at last week. We will be continuing to closely monitor the financial sector as they move through this pivotal time period.

The S&P 500 slipped 7.6 points to start the week after recovering slightly from 2 straight weeks of losses. At PinnacleDigest we have recently announced two new featured companies's trading in the mining and oil and gas industries. We invite you to visit our multi-purpose online financial magazine to learn more about this company and exactly what we have to offer.

In respect to Heartland Oil and Gas Corp. we are interested in their most recent development, but even more specifically the trend of the sector influencing their ultimate success. Heartland's CEO Steven A. Fall stated, "In light of the gas pressures we were experiencing before we fractured the sand, we are very optimistic about the results we expect after the fracs." We will be following up with Heartland Oil and Gas Corp as they progress during this pivotal time period. The continuation of this article and aspects beneficial to the mining market can be viewed on our multi-purpose online financial magazine, at www.pinnacledigest.com.

To continue with this report as well as other related articles, please visit www.pinnacledigest.com for a complimentary membership. It should be stated that our membership requires no commitment to our service. If you would like to contact us please write to [e-mail].

PinnacleDigest has no vested interest in the company mentioned herein. This source of information is from an unbiased perspective. If you wish to become a member of www.pinnacledigest.com you will be gaining access to articles similar to this one and many other useful services we know you will find valuable. Keeping you educated and up-to-date with the market is one of our main purposes. Our approach in achieving this goal and our ability to consistently deliver high quality investment material is what defines our business model.

Investors seeking a distinctive approach to investing should also visit www.pinnacledigest.com for a complimentary membership.

About Pinnacle Digest

Pinnacledigest.com is an emerging online financial newsletter community. We put together informative material, capturing the information that we know will give you an edge to your portfolio and more specifically your investment approach.

Once a member of PinnacleDigest you will be able to access our complimentary full-length research reports on selected companies, our weekly volumes, and our market overviews. In addition to these services we are confident you will enjoy our many other services, as well as our main feature which is available to all our members.

We pride ourselves in having a multi purpose online magazine and encourage you to join our community.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction.

All material herein was prepared by Pinnacledigest.com (Pinnacle Digest) based upon information believed to be reliable. The information contained herein is not guaranteed by Pinnacledigest.com to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Pinnacledigest.com is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. Pinnacledigest.com may receive compensation in cash or shares from independent third parties or from the companies mentioned.

Pinnacledigest.com will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.

You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Pinnacledigest.com undertakes no obligation to update such statements.

M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [e-mail].

(C)1994-2007 M2 COMMUNICATIONS LTD

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[fronekmir1]

UPDA Prepares to Assign Texas Wells and Leases to Heartland - Production to Transfer at Start of 4th Quarter

JACKSBORO, Texas, Sep 24, 2007 (BUSINESS WIRE) -- In conjunction with the streamlining of its operations, the land and legal staff of Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1) met this past week in order to prepare the documents necessary to complete the assignment of its Texas oil and gas wells and leases to its Heartland Oil and Gas Corp. subsidiary (OTC BB:HTOG)(FWB:HOCA).

In Jack County, Texas, UPDA will assign its 2700 acre Catlin Oil and Gas Field to Heartland, transferring production valued at approximately $100,000 per month, as well as the related gathering system, extensive pipeline and surface equipment on as many as 65 wells.

UPDA will also assign its recently acquired gas field comprised of several leases and more than 10 producing wells in Palo Pinto County, Texas to Heartland. This field currently generates revenue in excess of $100,000 per month and, with the installation of a new salt water disposal well, is expected to significantly increase production when many of the presently shut in wells are recompleted in the Barnett Shale and brought on line.

In conjunction with these assignments, to be effective October 1, 2007, operation of the leases and wells will be transferred from UPDA Operators to Heartland Oil and Gas, Inc., the wholly owned operating subsidiary of Heartland Oil and Gas Corp. As a result, an additional $150,000 of operating capital will be released due to a reduction in the amount of security that must be maintained with the Texas Railroad Commission.

While it has been agreed that Heartland will assume responsibility for the payment of the loan from Sheridan Capital, the total consideration to be paid for these assignments will be determined after a fairness opinion is prepared. UPDA has invested in excess of $8 million in these properties.

For further information about Heartland Oil and Gas Corp., visit www.heartlandoilandgas.com

For further information on UPDA, visit www.universalpropertydevelopment.com

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.

SOURCE: Heartland Oil and Gas Corp.

CONTACT: Heartland Oil and Gas Corp.
Jack Baker, 561-630-2977
Investor Relations
[e-mail]


Copyright Business Wire 2007

-0-

KEYWORD: United States
North America
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
Utilities
Other Energy
Natural Resources
Other Natural Resources
Professional Services
Finance
SUBJECT CODE: Merger/Acquisition
Product/Service

[fronekmir1]

Heartland Initiates Phase Two of its Drilling Program in Kansas as it Moves Forward with Completion Program on Phase One

PAOLA, Kan., Sep 26, 2007 (BUSINESS WIRE) -- Continuing the progress of its aggressive drilling program in Kansas, Heartland Oil and Gas Corp. (OTCBB:HTOG) (FWB:HOCA) has commenced Phase Two with the commencement of three recently permitted wells in its Cherokee Basin Coalbed Methane Field in Southeastern Kansas.

As it commences drilling Phase Two, UPDA's Aztec Well Services subsidiary is also moving forward with the completion and tie in of the 17 wells it drilled in Phase One of the drilling program. Fracture designs have been reviewed and perfected as down hole and surface equipment is delivered to the well sites and Double J Pipeline continues the expansion of the gathering system. The wells that have been fractured are now being swabbed to remove the frac water and will soon be turned to production. Completed well sites are being secured with the installation of new fencing and it is expected that all of the wells drilled in Phase One will soon be producing in commercial quantities.

About Heartland Oil and Gas Corp.

In April 2007, Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA acquired additional wells and acreage in Palo Pinto County, Texas with current production of approximately 1000 mcfg/day and will soon transfer those wells as well as all of its wells and acreage in Jack County, Texas to Heartland. For further information, visit www.heartlandoilandgas.com

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.

SOURCE: Heartland Oil and Gas Corp.

CONTACT: Heartland Oil and Gas Corp.
Jack Baker (Investor Relations), 561-630-2977
[e-mail]


Copyright Business Wire 2007

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KEYWORD: United States
North America
Kansas
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
Other Energy
SUBJECT CODE: Product/Service

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=htog#g…

[fronekmir1]

1625 Broadway
Suite 1480
Denver, CO 80202
United States

http://www.heartlandoilandgas.com

* Phone: [phone]
* Fax: [phone]
* E-mail: [e-mail]



*
Disclosure Category
Current Information
*
Primary SIC — Industry Classification
3640 - Electric Lighting & Wiring Equipment

*
State Of Incorporation
NV
*
Jurisdiction Of Incorporation
USA

*
Company Officers
Philip S. Winner, President, CEO, Dir.

*
SEC Reporting Status
SEC Reporting Company
*
CIK
0001075636

*
Estimated Market Cap
5,373,616.05 as of Sep 27, 2007
*
Outstanding Shares
9,770,211 as of Jul 25, 2007
*
Number of Share Holders of Record
90 as of Apr 16, 2007



*
Current Capital Change
shs decreased by 1 for 10 split
Pay Date: Jul 25, 2007

*
Company Notes
o Note=12-02 company is in the development stage
o Formerly=Adriatic Holdings Ltd. until 11-02

*
Investor Relations Firm
Administrative Outsource Services, Inc.
14255 U.S. Highway 1
Suite 209
Juno Beach, FL 33408

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[Klausken]

BoonMarket.com: BoonMarket.com Launches Coverage of Heartland Oil and Gas Corp.

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HTOG news from 10/01/07:

Heartland Relocates Headquarters to Houston - Consolidates Administrative Staff to Reduce Costs and Streamline Operations

Heartland Oil and Gas Corp. has successfully completed the relocation of its Headquarters Offices to Houston, Texas with the transfer of all records and files from its former offices in Denver and consolidating the administration of the exploration and production operations of Universal Property Development and Acquisition Corporation into a single location.

As a result of this consolidation, the general and administrative expenses attributable to UPDA's exploration and production activities will be significantly reduced and those operations will be streamlined through standardization and consistency.

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About Heartland Oil and Gas Corp.

In April 2007, Universal Property Development and Acquisition Corporation acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA acquired additional wells and acreage in Palo Pinto County, Texas with current production of approximately 1000 mcfg/day and will soon transfer those wells as well as all of its wells and acreage in Jack County, Texas to Heartland. For further information, visit www.heartlandoilandgas.com

http://pinksheets.com/pink/quote/quote.jsp?symbol=HTOG#getNe…