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Gold/Mining/Energy : Universal Property Development and Acquisition Corp. -- Ignore unavailable to you. Want to Upgrade?

To: MicroKing who wrote (3)	9/18/2006 7:39:05 PM
From: MicroKing	Read Replies (1) \| Respond to of 16

Landmark Completes Mobilization at Catlin Field - Pace of Program to Increase - Ambient to Develop Plan for Canyon Creek Now that Landmark 4, LLC has completed its mobilization to UPDA's Catlin Oil and Gas Field in Jack County, Texas, Universal Property Development and Acquisition Corporation (OTCBB:UPDA) subsidiary, Ambient Wells Services, Inc., is preparing an expansive plan to pursue similar programs at the various oil and gas fields owned by another UPDA subsidiary, Canyon Creek Oil and Gas, Inc. Once this plan is complete, Ambient will have crews working in Canyon Creek's fields in Archer, Coleman and Palo Pinto Counties while Landmark continues its efforts on Catlin with a crew of 10 or more men and hundreds of thousands of dollars of equipment purchased specifically for this aggressive project. "These projects demonstrate the application of our new business model, revised to utilize our own crews and management to complete the well service work," said Chris McCauley, UPDA Vice President. "As a result of previous disappointments, UPDA management re-visited its business plan and determined that its own efforts resulted in the successful acquisition of many promising properties but its reliance then on others to manage and direct the workover of those properties was not succeeding in the same fashion. Accordingly, we assembled a team of our own experts and established Ambient Wells Services, Inc. to manage the projects and ensure their successful completion. The programs on Catlin, Archer, Coleman and Palo Pinto are just the beginning of what we are confident is a business plan that will ultimately generate the production that we always believed these properties were capable of generating." "Now that we are in a position, using Ambient and Landmark, to properly repair and rework these wells and pipelines using our own crews and competent contractors, we have every reason to anticipate steady progress and immediate success," said Ambient COO Gaby Damary. "As demonstrated by last week's return of 7 wells to production on Catlin, we will be moving forward from this point with great urgency. At the current pace, we expect to have the 64 Catlin wells and pipeline completed and producing within Landmark's 60 day bonus period and Ambient's crews will be well on their way to increasing and restoring the production from as many as 75 Canyon Creek wells. We look forward to the work ahead of us." The continuing progress of this project will be reported by UPDA as it continues to update its website at: www.universalpropertydevelopment.com.