United Heritage (UHCP) Message Board

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Microcap & Penny Stocks : United Heritage (UHCP)

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To: John Allen who wrote (8)	8/24/1998 6:29:00 PM
From: Ed Ajootian	Read Replies (1) of 21

John, Had a nice chat with Walter Mize, pres., today. He said everything is going just as they had hoped with the test. The progress reports from Surtek are all positive so far. Only problem now is, with the delay in getting this thing started it looks like they won't make it to be in a position to book any reserves by 12/31. Guess this explains the lethargic trading action of the stock. The Klaeger swabbing unit they are using on the test wells is doing pretty good --- they are getting about 80 bopd out of them. Shareholders meeting 9/16, where they will ask our approval of a reverse split. Approval would be good for one year and the current thinking is to wait until they announce proven reserves and then simultaneously announce a reverse split. Sounds like a great plan to me. I believe this stock is currently a great play for anyone looking to hold a stock long enough to get long term capital gains treatment, who doesn't want to have a big chance of stuff going wrong while he's waiting for the year to pass.

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