September 22, 2006 - 10:44 AM EST
Catlin Workover Continues - 8 Wells Completed - Infrastructure Repairs Progressing as the second week of the Catlin Workover Project closes, Universal Property Development and Acquisition Corporation (OTCBB:UPDA) subsidiary, Ambient Wells Services, Inc., has directed Rockey Well Service to initiate work on its ninth well and Landmark 4, LLC. continues to complete the repair of roads, flow lines and transmission systems.
During this past week, Ambient supervised the testing of several wells that have had new tubing installed, down hole pumps replaced and pumping units repaired. As a result of these tests, the Mathis 1A showed flush crude oil production of 35 bopd.
"As we progress through the field, each well we work on has shown better than anticipated," reports Gaby Damary, Ambient COO. "As we open the wells, the pressure is strong and steady. Once the equipment and tubing is replaced and the flow lines and sales lines are repaired, we expect to turn them on and let them run. Rockey and Landmark are making impressive progress and we appreciate their professionalism and diligence."
The progress of this project will be reported by UPDA as it continues to update its website at: www.universalpropertydevelopment.com.
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