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ا
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دورة المؤشرنت للتحليل الفني
50 دينار كويتي
Upda
- بادئ الموضوع مضارب البني
- تاريخ البدء
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
خبر جديد ... اين المترجم
UPDA Amends Agreement to Sell Trading and Storage Subsidiaries - Now Set to Acquire Controlling Interest in Continental Fuels
Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has negotiated an amendment to the terms of the proposed agreement with Continental Fuels, Inc. (OTCBB:CNDI)(FWB:CIQB) through which UPDA would sell its trading and storage subsidiaries. Under the revised terms of the proposed transaction, UPDA would transfer its ownership of the capital stock of US Petroleum Depot, Inc. to Continental Fuels for the aggregate consideration of $7.5 million in cash and Continental preferred stock.
Through this amendment, the consideration received by UPDA will now consist of $2.5 million in cash and shares of convertible preferred stock of Continental valued at $5,000,000.00. The shares of convertible preferred stock received by UPDA will vote on an as converted basis and will represent in excess of 70% of the voting rights of Continental's then outstanding common stock. Therefore, the closing of this proposed transaction will result in UPDA receiving a controlling interest in Continental Fuels.
In addition, in connection with this transaction, Continental and its note holders have negotiated a reduction in the rate at which certain of Continental's outstanding debt will be convertible into common stock.
The Closing Date for the transaction remains 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 Amends Agreement to Sell Trading and Storage Subsidiaries - Now Set to Acquire Controlling Interest in Continental Fuels
Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), has negotiated an amendment to the terms of the proposed agreement with Continental Fuels, Inc. (OTCBB:CNDI)(FWB:CIQB) through which UPDA would sell its trading and storage subsidiaries. Under the revised terms of the proposed transaction, UPDA would transfer its ownership of the capital stock of US Petroleum Depot, Inc. to Continental Fuels for the aggregate consideration of $7.5 million in cash and Continental preferred stock.
Through this amendment, the consideration received by UPDA will now consist of $2.5 million in cash and shares of convertible preferred stock of Continental valued at $5,000,000.00. The shares of convertible preferred stock received by UPDA will vote on an as converted basis and will represent in excess of 70% of the voting rights of Continental's then outstanding common stock. Therefore, the closing of this proposed transaction will result in UPDA receiving a controlling interest in Continental Fuels.
In addition, in connection with this transaction, Continental and its note holders have negotiated a reduction in the rate at which certain of Continental's outstanding debt will be convertible into common stock.
The Closing Date for the transaction remains 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
خبر جديد ...
UPDA Clarifies Transaction with Continental Fuels to Provide for the Immediate Transfer Control - Assumes 2 Seats on Continental Board of Directors
In order to clarify the terms of its agreement with Continental Fuels, Inc. (OTCBB:CNDI)(FWB:CIQB), the consideration received by Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1) for the sale of the capital stock of its trading and storage subsidiaries will now consist of $2.5 million in cash and shares of convertible preferred stock of Continental valued at $5,000,000.00.
The shares of convertible preferred stock will allow UPDA to vote and receive dividends on an as converted basis upon issuance and will represent in excess of 70% of the voting rights of Continental's then outstanding common stock. Therefore, the closing of this proposed transaction will result in UPDA immediately receiving a controlling interest in Continental Fuels and assuming two seats on its board of directors.
"These amended terms do not change the intention of the transaction, they simply clarify the result," explained UPDA Vice President Chris McCauley. Consistent with its long standing business plan, UPDA has incubated these divisions over the course of nearly a year. Now, through this transaction, we are able to recover all of our investment and deliver these subsidiaries to a new public entity through which they will be able to exploit the myriad opportunities they have before them. All of this, and UPDA still retains control of the assets for the benefit of its shareholders. This transaction is exemplary of our strategy to build value for the shareholders of UPDA," concluded McCauley.
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 Clarifies Transaction with Continental Fuels to Provide for the Immediate Transfer Control - Assumes 2 Seats on Continental Board of Directors
In order to clarify the terms of its agreement with Continental Fuels, Inc. (OTCBB:CNDI)(FWB:CIQB), the consideration received by Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1) for the sale of the capital stock of its trading and storage subsidiaries will now consist of $2.5 million in cash and shares of convertible preferred stock of Continental valued at $5,000,000.00.
The shares of convertible preferred stock will allow UPDA to vote and receive dividends on an as converted basis upon issuance and will represent in excess of 70% of the voting rights of Continental's then outstanding common stock. Therefore, the closing of this proposed transaction will result in UPDA immediately receiving a controlling interest in Continental Fuels and assuming two seats on its board of directors.
"These amended terms do not change the intention of the transaction, they simply clarify the result," explained UPDA Vice President Chris McCauley. Consistent with its long standing business plan, UPDA has incubated these divisions over the course of nearly a year. Now, through this transaction, we are able to recover all of our investment and deliver these subsidiaries to a new public entity through which they will be able to exploit the myriad opportunities they have before them. All of this, and UPDA still retains control of the assets for the benefit of its shareholders. This transaction is exemplary of our strategy to build value for the shareholders of UPDA," concluded McCauley.
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
الجديد دائما
عضو نشط
هذي الترجمة
استسلم يوضح صفقة مع القاري الى توفير وقود للنقل المباشر 2 - يفترض على مقاعد المجلس القاري الادارة بغية توضيح احكام اتفاقها مع قاري الوقود المحدوده (وتكب : كندي (فوب : سيكب) نظر تلقاها العالمية واكتساب ملكيه شركة وتكب : استسلم (فوب : up1) يماثل : up1 المانيا) : up1) م الامم المتحدة : up1) ق تو : up1 لبيع اسهم رأس المال للتجارة والتخزين التابعة الآن من 2.5 مليون دولار نقديه وأسهم تحويل المفضل الاسهم القارة قيمتها 802.50. الاسهم القابلة للتحويل المفضل الاسهم تسمح استسلم التصويت والحصول على فوائد فتحول على أساس وسيمثل اصدار اكثر من 70 ٪ من حقوق التصويت في فقاري الاسهم المتبقية. لذا ، اغلاق هذه الصفقة المقترحة سوف تؤدي استسلم فورا استلام حصة غالبة في القارة وتحمل الوقود مقعدين في مجلس الادارة. "تعديل هذه الشروط لا تتغير نية المعامله وببساطة توضح النتيجة "اوضح نائب رئيس استسلم كريس مكولي. انسجاما مع خطة عمل طويلة العهد ، قد استسلم احتضنتها هذه الانقسامات على مدى سنة تقريبا. الآن ، من خلال هذه العملية ، اننا قادرون على استعادة كل من الاستثمار وتقديم هذه الشركات التابعة للكيان الجديد الذى وسيكون قادرا على استغلال الفرص العديده التي تعرض لها. كل هذا ، واستسلم ما زال يحتفظ بالسيطره على الاصول لصالح مساهميها. هذه المعامله المثاليه لاستراتيجيتنا لبناء قيمة للمساهمين من استسلم "اختتمت مكولي. استسلم حوالى عالمي واكتساب ملكيه شركة (شركة ب ب : استسلم يركز على اكتساب وتطوير ثبت النفط والغاز الطبيعي والطاقة من خلال الفرص إنشاء مشاريع مشتركة في اطار التمويل أصحاب عقود الايجار المعدنية والتكنولوجيات المتطوره. البيانات الواردة في هذا صحفيا لا على اساس الحقائق التاريخية او الحالية لا تتطلع الى طبيعتها. هذه تطلعي البيانات الحالية تعكس آراء الادارة فيما يتعلق بالاحداث المستقبليه وتخضع لبعض الشكوك والمخاطر ، والافتراضات. ان واحدة او اكثر من هذه المخاطر والشكوك تحقق أو تثبت أن الافتراضات خاطءه النتائج الفعليه قد تختلف ماديا عن تلك الموصوفه هنا ، فالمتوقع ان يقدر ، يتوقع ، أو وصف عملا يماثله. المصدر : العالمية واكتساب ملكيه الشركة
استسلم يوضح صفقة مع القاري الى توفير وقود للنقل المباشر 2 - يفترض على مقاعد المجلس القاري الادارة بغية توضيح احكام اتفاقها مع قاري الوقود المحدوده (وتكب : كندي (فوب : سيكب) نظر تلقاها العالمية واكتساب ملكيه شركة وتكب : استسلم (فوب : up1) يماثل : up1 المانيا) : up1) م الامم المتحدة : up1) ق تو : up1 لبيع اسهم رأس المال للتجارة والتخزين التابعة الآن من 2.5 مليون دولار نقديه وأسهم تحويل المفضل الاسهم القارة قيمتها 802.50. الاسهم القابلة للتحويل المفضل الاسهم تسمح استسلم التصويت والحصول على فوائد فتحول على أساس وسيمثل اصدار اكثر من 70 ٪ من حقوق التصويت في فقاري الاسهم المتبقية. لذا ، اغلاق هذه الصفقة المقترحة سوف تؤدي استسلم فورا استلام حصة غالبة في القارة وتحمل الوقود مقعدين في مجلس الادارة. "تعديل هذه الشروط لا تتغير نية المعامله وببساطة توضح النتيجة "اوضح نائب رئيس استسلم كريس مكولي. انسجاما مع خطة عمل طويلة العهد ، قد استسلم احتضنتها هذه الانقسامات على مدى سنة تقريبا. الآن ، من خلال هذه العملية ، اننا قادرون على استعادة كل من الاستثمار وتقديم هذه الشركات التابعة للكيان الجديد الذى وسيكون قادرا على استغلال الفرص العديده التي تعرض لها. كل هذا ، واستسلم ما زال يحتفظ بالسيطره على الاصول لصالح مساهميها. هذه المعامله المثاليه لاستراتيجيتنا لبناء قيمة للمساهمين من استسلم "اختتمت مكولي. استسلم حوالى عالمي واكتساب ملكيه شركة (شركة ب ب : استسلم يركز على اكتساب وتطوير ثبت النفط والغاز الطبيعي والطاقة من خلال الفرص إنشاء مشاريع مشتركة في اطار التمويل أصحاب عقود الايجار المعدنية والتكنولوجيات المتطوره. البيانات الواردة في هذا صحفيا لا على اساس الحقائق التاريخية او الحالية لا تتطلع الى طبيعتها. هذه تطلعي البيانات الحالية تعكس آراء الادارة فيما يتعلق بالاحداث المستقبليه وتخضع لبعض الشكوك والمخاطر ، والافتراضات. ان واحدة او اكثر من هذه المخاطر والشكوك تحقق أو تثبت أن الافتراضات خاطءه النتائج الفعليه قد تختلف ماديا عن تلك الموصوفه هنا ، فالمتوقع ان يقدر ، يتوقع ، أو وصف عملا يماثله. المصدر : العالمية واكتساب ملكيه الشركة
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
غريب أمر السهم
أخبار ونزول ...
أخبار ونزول ...
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
ان شاء الله يستمر الدعم 0.060
ان شاء الله نشوف ارتداد
ان شاء الله نشوف ارتداد
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
UPDA Updates its Shareholders on Recent Acquisitions and Sale of Assets
Last week, Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1) announced the pending sale of two of its wholly owned subsidiaries (US Petroleum Depot and UPDA Texas Trading) to Continental Fuels, Inc. The result of this transaction will be the acquisition by UPDA of Preferred Convertible Stock representing approximately 70% of the voting interest in Continental and two seats on Continental's Board of Directors.
Significant effort went into the planning and the development of this transaction. Over the past year, UPDA acquired the 48,000 barrel petroleum storage facility in Brownsville, Texas and invested considerable resources and time to bring it into to compliance with the regulations of all local and federal authorities including the US Coast Guard, US Department of Homeland Security, the Port Authority of Brownsville and others. UPDA also invested tremendous resources to build the business of UPDA Texas Trading, starting with the fuel blending formulas that were developed, to the negotiation of importation agreements for the condensate (light crude) on which deliveries started in February and, finally, making arrangements with Western Refining to purchase the condensate in whatever quantities can be delivered.
After consulting with its advisors and counsel, the board and the senior management of UPDA decided that it is in the best interests of the shareholders of UPDA to enter this asset sale transaction with another public company for the following reasons: First, management believes that the market value of these UPDA assets were not fully reflected in the value of UPDA, its market capitalization nor its present stock price. Second, management believes that separating the trading, blending and the storage business into its own company, with its own experienced management team that can focus on the development of the significant resources incubated by UPDA, will provide the business with its best opportunity to thrive. Third, as a public company, Continental may have independent financing resources and opportunities to utilize in order to support the future growth of the trading and blending businesses. And finally, upon completion of this transaction, UPDA will have raised additional capital to help finance its core oil and gas acquisition and development activities.
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
Last week, Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1) announced the pending sale of two of its wholly owned subsidiaries (US Petroleum Depot and UPDA Texas Trading) to Continental Fuels, Inc. The result of this transaction will be the acquisition by UPDA of Preferred Convertible Stock representing approximately 70% of the voting interest in Continental and two seats on Continental's Board of Directors.
Significant effort went into the planning and the development of this transaction. Over the past year, UPDA acquired the 48,000 barrel petroleum storage facility in Brownsville, Texas and invested considerable resources and time to bring it into to compliance with the regulations of all local and federal authorities including the US Coast Guard, US Department of Homeland Security, the Port Authority of Brownsville and others. UPDA also invested tremendous resources to build the business of UPDA Texas Trading, starting with the fuel blending formulas that were developed, to the negotiation of importation agreements for the condensate (light crude) on which deliveries started in February and, finally, making arrangements with Western Refining to purchase the condensate in whatever quantities can be delivered.
After consulting with its advisors and counsel, the board and the senior management of UPDA decided that it is in the best interests of the shareholders of UPDA to enter this asset sale transaction with another public company for the following reasons: First, management believes that the market value of these UPDA assets were not fully reflected in the value of UPDA, its market capitalization nor its present stock price. Second, management believes that separating the trading, blending and the storage business into its own company, with its own experienced management team that can focus on the development of the significant resources incubated by UPDA, will provide the business with its best opportunity to thrive. Third, as a public company, Continental may have independent financing resources and opportunities to utilize in order to support the future growth of the trading and blending businesses. And finally, upon completion of this transaction, UPDA will have raised additional capital to help finance its core oil and gas acquisition and development activities.
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
شراء واضح على السهم
ان شاء الله ارتداد
بعد الاصطدام بالدعم 0.060
ان شاء الله ارتداد
بعد الاصطدام بالدعم 0.060
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
0.07
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
0.072
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
0.075
"الحرالاشقر"
عضو نشط
حبيت ابارك لك اخوي مضارب والله انك تستاهل الخير يالغالي
0.0804
0.0804
مبروكمضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
اللهم لك الحمد
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
الهاي 0.086
اغلاق 0.084
اللهم لك الحمد
اغلاق 0.084
اللهم لك الحمد
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
نحتاج إلى رأي الخبراء !!!
الشعثاني
رايك يهمني
الشعثاني
رايك يهمني
مضارب البني
عضو نشط
- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
جني ارباح ... ثم ارتداد
نبراس
عضو نشط
خبر جديد ... هل هو أنطلاقه إلى 0.1 سنت .... نقول أن شاء الله ....
UPDA Subsidiary Makes First Light Crude Condensate Deliveries to Shell Chemicals - 20,000 Barrel Barge Loaded at Port of Brownsville
BROWNSVILLE, Texas--(BUSINESS WIRE)--US Petroleum Depot, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News; FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), is completing the delivery of approximately 20,000 bbls of light crude condensate to Shell Chemicals, a division of Shell Oil (NYSE: RDS.A - News, RDS.B - News; www.shellchemicals.com). Through its contract with Western Refining (NYSE: WNR - News; www.westernrefining.com), the spread on this sale is over $4.00/bbl.
On Sunday, March 25, the 20,000 barrel petroleum transport barge Luke Bryan was loaded at USPD's storage facility at the Port of Brownsville, Texas (www.portofbrownsville.com). With a delivery rate of 1700 bbls/hr., the barge can be loaded in about 12 hours.
"This delivery signals the beginning of a continuous and expanding stream of product through this facility and soon elsewhere," reports Tim Brink, former COO of UPDA Texas Trading, Inc, now CEO of Continental Fuels, Inc. (OTC BB: CFUL - News, CIQB.F - News) www.continetalfuels.com. "We have been working around the clock making the final preparations for this initial delivery, from the installation of a second pump to welding the lines to the barge delivery system. We have a great group of employees and vendors down here and the cooperation of the local US Coast Guard station was instrumental in the timely completion of the required final inspections."
"This subsidiary has now been perfectly positioned to grow the business and with the margins that have been established, the positive cash flow should be significant," continued Brink. "As we continue to develop the supply sources and refine the operation of this facility and acquire additional storage facilities, we are optimistic about being able to deliver 40,000 bbls/week in a very short time."
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
BROWNSVILLE, Texas--(BUSINESS WIRE)--US Petroleum Depot, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News; FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), is completing the delivery of approximately 20,000 bbls of light crude condensate to Shell Chemicals, a division of Shell Oil (NYSE: RDS.A - News, RDS.B - News; www.shellchemicals.com). Through its contract with Western Refining (NYSE: WNR - News; www.westernrefining.com), the spread on this sale is over $4.00/bbl.
On Sunday, March 25, the 20,000 barrel petroleum transport barge Luke Bryan was loaded at USPD's storage facility at the Port of Brownsville, Texas (www.portofbrownsville.com). With a delivery rate of 1700 bbls/hr., the barge can be loaded in about 12 hours.
"This delivery signals the beginning of a continuous and expanding stream of product through this facility and soon elsewhere," reports Tim Brink, former COO of UPDA Texas Trading, Inc, now CEO of Continental Fuels, Inc. (OTC BB: CFUL - News, CIQB.F - News) www.continetalfuels.com. "We have been working around the clock making the final preparations for this initial delivery, from the installation of a second pump to welding the lines to the barge delivery system. We have a great group of employees and vendors down here and the cooperation of the local US Coast Guard station was instrumental in the timely completion of the required final inspections."
"This subsidiary has now been perfectly positioned to grow the business and with the margins that have been established, the positive cash flow should be significant," continued Brink. "As we continue to develop the supply sources and refine the operation of this facility and acquire additional storage facilities, we are optimistic about being able to deliver 40,000 bbls/week in a very short time."
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
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- التسجيل
- 15 يوليو 2006
- المشاركات
- 480
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