Article Categories
» Arts & Entertainment
» Automotive
» Business
» Careers & Jobs
» Education & Reference
» Finance
» Food & Drink
» Health & Fitness
» Home & Family
» Internet & Online Businesses
» Miscellaneous
» Self Improvement
» Shopping
» Society & News
» Sports & Recreation
» Technology
» Travel & Leisure
» Writing & Speaking

  Listed Article

  Category: Articles » Business » Article
 

UPDA Pumps Domestic Oil and Natural Gas; Investors Gush Over Profits




By Kris Nickerson

"With the continuing conflicts in the Middle East and the price of crude oil hovering at $60 per barrel, it's never been more important for the U.S. to reduce its reliance on foreign oil," says Kamal Abdullah, CEO of Universal Property Development and Acquisition Company (UPDA.OB). To that end, the Florida-based UPDA (www.updastock.com) is buying and leasing U.S. properties with proven oil reserves, applying state-of-the-art technology, and pumping out sought-after oil and natural gas. "Americans use over 20 million barrels of oil a day, over half of which is imported," says Abdullah. "That's why domestic drilling is so important, and why UPDA's investors are thrilled about their tremendous return on investment."

With investor support, UPDA pumps the crude by buying land with proven oil reserves or taking over leases of existing abandoned wells and transforming them into lucrative producing wells. "When oil was at $10 a barrel, mom-and-pop operations couldn't compete with the Saudis, and shut down the wells," says Abdullah. "Now that the prices have skyrocketed, it's advantageous to rework those wells. In fact, it's more economical to rework an existing well than to drill a new well."

An up and coming company, UPDA has gone from producing a few barrels of oil and a few million cubic feet of natural gas per day to over 350 barrels of oil and over 250 million cubic feet of natural gas each day. "Within the next two months, we expect to pump over 1,000 barrels of oil and 500 million cubic feet of natural gas daily," says Abdullah.

That prospect, as well as the strategic partnerships UPDA has developed, has investors pumped. "UPDA's strong valuation, its seasoned scientists and technicians, and keen acquisition experts all point to a sound investment for penny stock investors," says UPDA's Investor Relations Manager Jack Baker.

UPDA's projects include Canyon Creek Oil and Gas, Catlin Oil and Gas, and West Oil and Gas. "Canyon Creek started with over 60 wells located on more than 2,000 acres in the Fort Worth basin," notes Abdullah. "Since then, we've acquired additional properties that have increased Canyon Creek's reserves from $35 million to close to $200 million." Catlin Oil and Gas has more than 60 wells on over 2,700 acres in Jack County, Texas, while West Oil and Gas is in the process of acquiring properties in Utah.

While UPDA won't eradicate U.S. dependence on foreign oil, their increasing production is a step in the right direction. "With approval for drilling in the Arctic National Wildlife Refuge unlikely, and the crumbling of Alaska's Prudhoe Bay pipeline infrastructure, it's up to independent producers like us to do our part," concludes Abdullah. In the process, both U.S. consumers and UPDA investors will reap the benefits.
 
 
About the Author
Kris Nickerson is the Editor-in-Chief of Press Direct International (http://www.pressdirectinternational.org), a global information website that provides reliable information tailored to professionals in financial, media, and corporate markets. His thorough knowledge of industries ranging from health care and travel to real estate and financial investing enables him to quickly grasp the nuances of emerging markets and technologies.

Article Source: http://www.simplysearch4it.com/article/49966.html
 
If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/49966.html" as shown above and make it hyperlinked.



  Some other articles by Kris Nickerson
Through Help for Orphans, Sarah Ehrlich Follows Oprah in Educating African Kids
When Oprah Winfrey recently opened her Leadership Academy for Girls in South Africa, she followed in the steps of other ...

Near Tragedy Spurs GetEmTagged.com to Reduce Teen Driving Risks
Tracey and Roderic Strozier, from Lakeville, Minn., were spurred to launch Get 'Em Tagged (www.GetEmTagged.com) after a brush with near tragedy. One early morning in November 2006, they received the ...

The 21st Century Church: The Call to Economic and Spiritual Legacy
From TIME Magazine to CNN's Anderson Cooper, the mainstream media is examining and calling into question the emerging ministry of some Christian churches: encouraging congregants to find inspiration in the Bible that ...

SilverTag Online Auctions: Winners Nab Big-Ticket Items With Lowest Bids
Members are calling it "the most addictive site in the world." And it's no wonder, since SilverTag ( www.SilverTag.com ) has given away a PlayStation 3 for $1.68 and a 42" LG ...

SilverTag Online Auctions: Where the Lowest Bids Snag Big-Ticket Items
Where can you buy a $100 Target Gift Card for 15 cents? A PlayStation 3 for $1.68? Or a 42" LG Plasma TV for $5.57? At SilverTag ( www.SilverTag.com ), a new ...

Plasma TV for $5.57? Lowest Bids Nab Pricey Items at SilverTag Online Auctions
Where can you buy a 42" LG Plasma TV for $5.57? Or a PlayStation 3 for $1.68? At SilverTag ( www.SilverTag.com ), a new ...

  
  Recent Articles
Record Management
by Ismael D. Tabije

Treasure Hunts
by John Tarr

What to Look for in Choosing IP Surveillance Software
by amit

Giving Your Business a Vision Others Can Envision
by Yvonne Weld

Productivity and Production Management
by Ismael D. Tabije

Why Businesses Today Fail - Part 1 Customer Service
by Jeffrey Solochek

Utilizing a Virtual Assistant is Just Good Business Sense
by Yvonne Weld

The Quest For An Auto Dealer
by Ashley Daniels

The Importance of Coaching
by Ashley Daniels

Finding The Right Business Investment
by Jason Sands

Commercial Flooring NY gives your office a professional look
by Stephen robins

Commercial Carpet Tiles are preferred by numerous professionals
by Stephen robins