Universal Property Development and Acquisition Corporation (OTC BB: UPDA) is a leader in the exploration, development, production, storage, distribution, and blending of oil and natural gas. UPDA operates through six subsidiaries located throughout Texas and Kansas. Continental Fuels, Inc., a wholly owned subsidiary of UPDA, trades oil and natural gas, while the other five subsidiaries are focused on exploration and production.
UPDA owns controlling interests in various other energy businesses. The company also provides funding for developing proven energy reserves and new cutting-edge technologies. With these controlling interests, UPDA has the ability to expand its portfolio of assets and broaden its base of knowledge and experience.
In 2007, UPDA acquired 80% controlling interest in Continental Fuels, Inc. (OTCBB: CFUL) and Heartland Oil and Gas Corp. (OTCBB: HTOG). From Continental Fuels, Inc., revenues were up to $8 million per month. Heartland Oil and Gas Corp., the exploration and production business, had revenues of $0.3 million per month.
With oil prices reaching $100 per barrel and UPDA’s wholly owned subsidiary producing high revenues at the end of 2007, Universal is positioned for a strong future.
Let us hear your thoughts: Universal Property Development and Acquisition Corp. Message Board