دورة المؤشرنت للتحليل الفني
50 دينار كويتي
Upda
- بادئ الموضوع مضارب البني
- تاريخ البدء
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
UPDA Subsidiary Acquires Interests of Minority Partners - Consolidates Ownership of Catlin Field
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 initiated a strategy to consolidate ownership of its Catlin Oil and Gas Field in Jack County, Texas with the acquisition of 21 outstanding working interests in the field.
Working interest is an interest in an oil and gas leasehold which is subject to the payment of the expenses of development, operation and maintenance of a well. The holder of a working interest is also entitled to a percentage of the revenue generated from a well.
In Jack County, Catlin Oil and Gas has acquired outstanding working interests in various leases ranging from as little as 2.66 percent to as much as 50 percent. As a result of these acquisitions, Catlin will streamline operations as it continues to make improvements in the field and will substantially increase its revenue interest in the production from the wells.
"Because of the amount of money UPDA has spent improving this field, Catlin was able to acquire the working interests for what must be described as a nominal sum," reports UPDA Vice President Chris McCauley. UPDA is now in a position to realize all the benefit of its efforts and to continue the workover of the field unimpeded by the constraints of minor partners. These efforts will increase our operational efficiencies in many ways."
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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
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 initiated a strategy to consolidate ownership of its Catlin Oil and Gas Field in Jack County, Texas with the acquisition of 21 outstanding working interests in the field.
Working interest is an interest in an oil and gas leasehold which is subject to the payment of the expenses of development, operation and maintenance of a well. The holder of a working interest is also entitled to a percentage of the revenue generated from a well.
In Jack County, Catlin Oil and Gas has acquired outstanding working interests in various leases ranging from as little as 2.66 percent to as much as 50 percent. As a result of these acquisitions, Catlin will streamline operations as it continues to make improvements in the field and will substantially increase its revenue interest in the production from the wells.
"Because of the amount of money UPDA has spent improving this field, Catlin was able to acquire the working interests for what must be described as a nominal sum," reports UPDA Vice President Chris McCauley. UPDA is now in a position to realize all the benefit of its efforts and to continue the workover of the field unimpeded by the constraints of minor partners. These efforts will increase our operational efficiencies in many ways."
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
هل من مترجم ليترجم لي الخبرين الاخيرين ؟؟؟
الشعثاني
عضو مميز
الاخبار جيده على المدى البعيد
و لكن الشركة تحتاج الى المال حاليا و ليس من طريقة الا بيع الاسهم
و هذا ما يعيق انطلاق السهم
السهم حدد منطقة الـــ 12,5 سنت كسقف للحركة
الدخول الآمن هو بعد تجاوز هذا الرقم
كسر الـــ 9 سنت = الخروج
-
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
الشعثاني
شاكر لك تفاعلك مع الموضوع
شاكر لك تفاعلك مع الموضوع
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
السهم عليه شراء الان
ان شاء الله نعود للأرتفاع ...
ان شاء الله نعود للأرتفاع ...
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
UPDA Subsidiary Executes Contract with Western Refining for Sale of Condensate from Brownsville Storage Facility
US Petroleum Depot, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has executed a contract with Western Refining, Inc. (NYSE: WRN) (www.westernrefining.com) for the sale of light crude condensate from its storage facility in the Port of Brownsville, Texas. Western has agreed to purchase as much condensate as USPD is able to deliver for resale to Shell Chemicals, a division of Shell Oil (NYSE: RDS) (www.shellchemicals.com) in a product-swap transaction.
Pursuant to this sales agreement, the price to be paid for the light crude will be based on South Texas Condensate quality and will have four components Base Price plus Trade Roll plus a Platt's differential minus Transportation differential. The base price will be the arithmetic average of the daily settlement price for the "WTI" futures contract reported by the New York Mercantile Exchange "NYMEX" using the "CMA ALL DAYS" formula which is the calendar month NYMEX prices for the month of delivery, deemed 40 degrees gravity and deemed delivered in equal daily quantities.
The settlement prices shall be averaged for the entire Merc Trade month while the delivery month is the Merc Prompt month. The months averaged shall be the prompt (delivery) month and the next two months. The roll component for the prompt month/second month shall be the difference between the prompt month averages minus the second month average times a decimal factor determined by dividing the number of trade days in the delivery month that the second month trades on the Merc by the total number of Merc trade days in the delivery month. The roll component for the prompt month/third month shall be the difference between the prompt month average minus the third month average times a decimal factor that is one minus the decimal factor for the prompt month/second month. Weekends and Holidays have neither an actual or interpolated price. The roll components will be added together to arrive at the total roll component.
The Platt's daily high/low average for St. James LLS minus Platt's daily high/low average for Cushing WTI. This is the daily LLS/WTI spread. The daily LLS/WTI spread will be averaged when the delivery month is the prompt trade month.
"Now that we have nearly 20,000 bbls in the tanks and almost all of the necessary regulatory approvals, the final negotiation of this contract should allow us to start making deliveries early next week," reports Agustin Soto, COO of US Petroleum Depot.
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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
خبر حلو ... الموضوع فيه عقد
وين المترجم !!!
US Petroleum Depot, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has executed a contract with Western Refining, Inc. (NYSE: WRN) (www.westernrefining.com) for the sale of light crude condensate from its storage facility in the Port of Brownsville, Texas. Western has agreed to purchase as much condensate as USPD is able to deliver for resale to Shell Chemicals, a division of Shell Oil (NYSE: RDS) (www.shellchemicals.com) in a product-swap transaction.
Pursuant to this sales agreement, the price to be paid for the light crude will be based on South Texas Condensate quality and will have four components Base Price plus Trade Roll plus a Platt's differential minus Transportation differential. The base price will be the arithmetic average of the daily settlement price for the "WTI" futures contract reported by the New York Mercantile Exchange "NYMEX" using the "CMA ALL DAYS" formula which is the calendar month NYMEX prices for the month of delivery, deemed 40 degrees gravity and deemed delivered in equal daily quantities.
The settlement prices shall be averaged for the entire Merc Trade month while the delivery month is the Merc Prompt month. The months averaged shall be the prompt (delivery) month and the next two months. The roll component for the prompt month/second month shall be the difference between the prompt month averages minus the second month average times a decimal factor determined by dividing the number of trade days in the delivery month that the second month trades on the Merc by the total number of Merc trade days in the delivery month. The roll component for the prompt month/third month shall be the difference between the prompt month average minus the third month average times a decimal factor that is one minus the decimal factor for the prompt month/second month. Weekends and Holidays have neither an actual or interpolated price. The roll components will be added together to arrive at the total roll component.
The Platt's daily high/low average for St. James LLS minus Platt's daily high/low average for Cushing WTI. This is the daily LLS/WTI spread. The daily LLS/WTI spread will be averaged when the delivery month is the prompt trade month.
"Now that we have nearly 20,000 bbls in the tanks and almost all of the necessary regulatory approvals, the final negotiation of this contract should allow us to start making deliveries early next week," reports Agustin Soto, COO of US Petroleum Depot.
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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
خبر حلو ... الموضوع فيه عقد
وين المترجم !!!
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
بداية حلوه
0.114
0.114
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
الشعثاني
مالذي حدث ؟؟؟
مانوع الخبر الذي نزل اليوم !!!
مالذي حدث ؟؟؟
مانوع الخبر الذي نزل اليوم !!!
الشعثاني
عضو مميز
خبر جيد تفاعل معه السهم بداية السوق
ثم اوقـفت الحركة بزيادة البيع
الشركة تحتاج الى اموال للاستحواذ
على مليون هكتار في منطقة Kansas
اهم شئ لا يكسر السهم الــ 9 سنت
بامكانك مضاعفة الكمية فيما بعد
باسعار متدنية فيما لو انزلو السهم و كسروا الــ 9 سنت
-
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
UPDA Subsidiary Prepares for Inspection of Brownsville Storage Facility by Shell Chemicals - Details of Initial Deliveries Under Final Review
BROWNSVILLE, Texas--(BUSINESS WIRE)--
US Petroleum Depot, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has been informed by Shell Chemicals, a division of Shell Oil (NYSE: RDS.A, RDS.B) (www.shellchemicals.com) that Shell will perform an inspection of the storage facilities and light crude inventory by the end of this week in anticipation of the commencement of deliveries of the product being stockpiled in Brownsville, Texas.
With final regulatory approval in hand and price and transportation costs under final review, the initial 40,000 barrel barge is expected to arrive so that deliveries under US Petroleum Depot's contract with Western Refining (NYSE: WNR) (www.westernrefining.com) may begin without delay.
"Our inventories continue to expand and, despite the short supply of available barges, it is our understanding that Shell intends to inspect the facilities this week so that we can make a delivery on the next available 40,000 barrel barge," reports Agustin Soto of US Petroleum Depots. "We have upgraded all of the pumps and pipelines and the facility is operating at peak efficiency. We look forward to completion of this inspection and moving forward with the next phase of the project which will result in significant ongoing profits on each sale."
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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
BROWNSVILLE, Texas--(BUSINESS WIRE)--
US Petroleum Depot, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has been informed by Shell Chemicals, a division of Shell Oil (NYSE: RDS.A, RDS.B) (www.shellchemicals.com) that Shell will perform an inspection of the storage facilities and light crude inventory by the end of this week in anticipation of the commencement of deliveries of the product being stockpiled in Brownsville, Texas.
With final regulatory approval in hand and price and transportation costs under final review, the initial 40,000 barrel barge is expected to arrive so that deliveries under US Petroleum Depot's contract with Western Refining (NYSE: WNR) (www.westernrefining.com) may begin without delay.
"Our inventories continue to expand and, despite the short supply of available barges, it is our understanding that Shell intends to inspect the facilities this week so that we can make a delivery on the next available 40,000 barrel barge," reports Agustin Soto of US Petroleum Depots. "We have upgraded all of the pumps and pipelines and the facility is operating at peak efficiency. We look forward to completion of this inspection and moving forward with the next phase of the project which will result in significant ongoing profits on each sale."
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
الشعثاني
تنصح بالتعديل الآن !!!
تنصح بالتعديل الآن !!!
الشعثاني
عضو مميز
اللي صرفوه فوق الــ 10 سنت يحتاجون الى تجميعه مرة اخرى
مناطق الارتداد المحتملة
0,06
0,05
0,03
-
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
Continental Fuels Enters Agreement to Acquire Storage Facilities and Supply and Sales Contracts - Initial Transaction Establishes Immediate Revenue
Continental Fuels, Inc. (OTCBB: CNDI) has entered into an agreement with Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), to acquire UPDA's storage facilities in Brownsville, Texas and its trading subsidiary together with a $2.25 million line of credit arranged to finance those operations. As a result of this acquisition, Continental has established an immediate source of revenues and the financial foundation on which to pursue its business plan.
The trading subsidiary included in the transaction has established supply contracts and sales agreements with Western Refining, Inc. (NYSE: WNR) and Shell Chemicals (NYSE: RDS.A, RDS.B) for the purchase and sale of light crude condensate of international origin. These contracts, which Continental has plans to expand and enhance, provide for significant profits and substantial minimum volumes.
"This acquisition is prototypical of the opportunities we intend to pursue," explained Continental CEO Tim Brink. "With this transaction, we build an asset base, develop a revenue stream and cultivate financial affiliations that will allow us to pursue our aggressive growth strategy. The existing contracts establish volume of 40,000 barrels per month and with our additional contacts and resources, we should be able to expand this to over 100,000 barrels per month. As a result, we expect to be profitable immediately upon close."
Further information regarding Continental Fuels is available at www.continentalfuels.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: Continental Fuels, Inc.
Continental Fuels, Inc. (OTCBB: CNDI) has entered into an agreement with Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), to acquire UPDA's storage facilities in Brownsville, Texas and its trading subsidiary together with a $2.25 million line of credit arranged to finance those operations. As a result of this acquisition, Continental has established an immediate source of revenues and the financial foundation on which to pursue its business plan.
The trading subsidiary included in the transaction has established supply contracts and sales agreements with Western Refining, Inc. (NYSE: WNR) and Shell Chemicals (NYSE: RDS.A, RDS.B) for the purchase and sale of light crude condensate of international origin. These contracts, which Continental has plans to expand and enhance, provide for significant profits and substantial minimum volumes.
"This acquisition is prototypical of the opportunities we intend to pursue," explained Continental CEO Tim Brink. "With this transaction, we build an asset base, develop a revenue stream and cultivate financial affiliations that will allow us to pursue our aggressive growth strategy. The existing contracts establish volume of 40,000 barrels per month and with our additional contacts and resources, we should be able to expand this to over 100,000 barrels per month. As a result, we expect to be profitable immediately upon close."
Further information regarding Continental Fuels is available at www.continentalfuels.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: Continental Fuels, Inc.
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
ممكن تفيدونا بالترجمه !!!
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
خبر آخر ...
UPDA Enters Agreement to Sell Trading and Storage Subsidiaries for $7.5 Million
Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has entered into an agreement with Continental Fuels, Inc. (OTCBB: CNDI) to sell its trading and storage subsidiaries for $7.5 million.
The sales price, to be paid in cash and convertible debentures, represents a significant gain on UPDA's investment of approximately $1.25 million in the subsidiaries. The sale also represents an opportunity for UPDA to additionally enhance its shareholder value through an investment in Continental while utilizing the cash to be paid to continue to expand UPDA's exploration and production operations.
"With the pending acquisition of one million acres of coalbed methane leases in Kansas, UPDA has committed to a sharpened focus on exploration and production," said Chris McCauley, UPDA Vice President. In addition, we are very impressed with Continental's business plan and management. Continental is well positioned to take advantage of the relationships we have created in these subsidiaries and UPDA will benefit in the short term by the cash payment of $2.5 million required by the agreement and in the long term through the potential of its investment in Continental. We expect Continental to expand rapidly and successfully in the trading arena, a market that our experiences have convinced us has substantial possibilities. This transaction allows us to apply those experiences to monitor and assist in Continental's progress, to concentrate UPDA's resources on its core business and still to reap the rewards of both."
The Closing Date for the transaction has been scheduled for April 2, 2007.
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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
UPDA Enters Agreement to Sell Trading and Storage Subsidiaries for $7.5 Million
Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has entered into an agreement with Continental Fuels, Inc. (OTCBB: CNDI) to sell its trading and storage subsidiaries for $7.5 million.
The sales price, to be paid in cash and convertible debentures, represents a significant gain on UPDA's investment of approximately $1.25 million in the subsidiaries. The sale also represents an opportunity for UPDA to additionally enhance its shareholder value through an investment in Continental while utilizing the cash to be paid to continue to expand UPDA's exploration and production operations.
"With the pending acquisition of one million acres of coalbed methane leases in Kansas, UPDA has committed to a sharpened focus on exploration and production," said Chris McCauley, UPDA Vice President. In addition, we are very impressed with Continental's business plan and management. Continental is well positioned to take advantage of the relationships we have created in these subsidiaries and UPDA will benefit in the short term by the cash payment of $2.5 million required by the agreement and in the long term through the potential of its investment in Continental. We expect Continental to expand rapidly and successfully in the trading arena, a market that our experiences have convinced us has substantial possibilities. This transaction allows us to apply those experiences to monitor and assist in Continental's progress, to concentrate UPDA's resources on its core business and still to reap the rewards of both."
The Closing Date for the transaction has been scheduled for April 2, 2007.
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
اغلاق الأمس 0.069
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
0.075
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
هل من مترجم ؟؟؟
UPDA Enters Agreement to Sell Trading and Storage Subsidiaries for $7.5 Million
Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(S TU:UP1), has entered into an agreement with Continental Fuels, Inc. (OTCBB: CNDI) to sell its trading and storage subsidiaries for $7.5 million.
The sales price, to be paid in cash and convertible debentures, represents a significant gain on UPDA's investment of approximately $1.25 million in the subsidiaries. The sale also represents an opportunity for UPDA to additionally enhance its shareholder value through an investment in Continental while utilizing the cash to be paid to continue to expand UPDA's exploration and production operations.
"With the pending acquisition of one million acres of coalbed methane leases in Kansas, UPDA has committed to a sharpened focus on exploration and production," said Chris McCauley, UPDA Vice President. In addition, we are very impressed with Continental's business plan and management. Continental is well positioned to take advantage of the relationships we have created in these subsidiaries and UPDA will benefit in the short term by the cash payment of $2.5 million required by the agreement and in the long term through the potential of its investment in Continental. We expect Continental to expand rapidly and successfully in the trading arena, a market that our experiences have convinced us has substantial possibilities. This transaction allows us to apply those experiences to monitor and assist in Continental's progress, to concentrate UPDA's resources on its core business and still to reap the rewards of both."
The Closing Date for the transaction has been scheduled for April 2, 2007.
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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
ــــــــــــــــــــــــــــــــــــــــــــــ
Continental Fuels Enters Agreement to Acquire Storage Facilities and Supply and Sales Contracts - Initial Transaction Establishes Immediate Revenue
Continental Fuels, Inc. (OTCBB: CNDI) has entered into an agreement with Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(S TU:UP1), to acquire UPDA's storage facilities in Brownsville, Texas and its trading subsidiary together with a $2.25 million line of credit arranged to finance those operations. As a result of this acquisition, Continental has established an immediate source of revenues and the financial foundation on which to pursue its business plan.
The trading subsidiary included in the transaction has established supply contracts and sales agreements with Western Refining, Inc. (NYSE: WNR) and Shell Chemicals (NYSE: RDS.A, RDS.B) for the purchase and sale of light crude condensate of international origin. These contracts, which Continental has plans to expand and enhance, provide for significant profits and substantial minimum volumes.
"This acquisition is prototypical of the opportunities we intend to pursue," explained Continental CEO Tim Brink. "With this transaction, we build an asset base, develop a revenue stream and cultivate financial affiliations that will allow us to pursue our aggressive growth strategy. The existing contracts establish volume of 40,000 barrels per month and with our additional contacts and resources, we should be able to expand this to over 100,000 barrels per month. As a result, we expect to be profitable immediately upon close."
Further information regarding Continental Fuels is available at www.continentalfuels.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: Continental Fuels, Inc.
UPDA Enters Agreement to Sell Trading and Storage Subsidiaries for $7.5 Million
Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(S TU:UP1), has entered into an agreement with Continental Fuels, Inc. (OTCBB: CNDI) to sell its trading and storage subsidiaries for $7.5 million.
The sales price, to be paid in cash and convertible debentures, represents a significant gain on UPDA's investment of approximately $1.25 million in the subsidiaries. The sale also represents an opportunity for UPDA to additionally enhance its shareholder value through an investment in Continental while utilizing the cash to be paid to continue to expand UPDA's exploration and production operations.
"With the pending acquisition of one million acres of coalbed methane leases in Kansas, UPDA has committed to a sharpened focus on exploration and production," said Chris McCauley, UPDA Vice President. In addition, we are very impressed with Continental's business plan and management. Continental is well positioned to take advantage of the relationships we have created in these subsidiaries and UPDA will benefit in the short term by the cash payment of $2.5 million required by the agreement and in the long term through the potential of its investment in Continental. We expect Continental to expand rapidly and successfully in the trading arena, a market that our experiences have convinced us has substantial possibilities. This transaction allows us to apply those experiences to monitor and assist in Continental's progress, to concentrate UPDA's resources on its core business and still to reap the rewards of both."
The Closing Date for the transaction has been scheduled for April 2, 2007.
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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
ــــــــــــــــــــــــــــــــــــــــــــــ
Continental Fuels Enters Agreement to Acquire Storage Facilities and Supply and Sales Contracts - Initial Transaction Establishes Immediate Revenue
Continental Fuels, Inc. (OTCBB: CNDI) has entered into an agreement with Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(S TU:UP1), to acquire UPDA's storage facilities in Brownsville, Texas and its trading subsidiary together with a $2.25 million line of credit arranged to finance those operations. As a result of this acquisition, Continental has established an immediate source of revenues and the financial foundation on which to pursue its business plan.
The trading subsidiary included in the transaction has established supply contracts and sales agreements with Western Refining, Inc. (NYSE: WNR) and Shell Chemicals (NYSE: RDS.A, RDS.B) for the purchase and sale of light crude condensate of international origin. These contracts, which Continental has plans to expand and enhance, provide for significant profits and substantial minimum volumes.
"This acquisition is prototypical of the opportunities we intend to pursue," explained Continental CEO Tim Brink. "With this transaction, we build an asset base, develop a revenue stream and cultivate financial affiliations that will allow us to pursue our aggressive growth strategy. The existing contracts establish volume of 40,000 barrels per month and with our additional contacts and resources, we should be able to expand this to over 100,000 barrels per month. As a result, we expect to be profitable immediately upon close."
Further information regarding Continental Fuels is available at www.continentalfuels.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: Continental Fuels, Inc.
نبراس
عضو نشط
افيدونا يا شباب عن هذه الأخبار .... ولماذا لم يتفاعل معهم
دورة المؤشرنت للتحليل الفني
50 دينار كويتي