(COMTEX) B: Universal Property Subsidiary West Oil & Gas Setting Up Operat
ons In Utah ( Investrend )
B: Universal Property Subsidiary West Oil & Gas Setting Up Operations In Utah (
nvestrend )
Jan 30, 2006 (financialwire.net via COMTEX) --
January 30, 2006 (FinancialWire) Universal Property Development and
Acquisition Corporation (OTCBB: UPDA) has accelerated its efforts to commence
operations in Utah through its West Oil & Gas, Inc. subsidiary, which has
established offices in Salt Lake City's landmark Wells Fargo Bank Tower.
West Oil Vice President Rene Kronvold has initiated review of several oil
and gas prospects in the Uinta Valley, the Altamont-Bluebell Field and
elsewhere in the state of Utah. "We are very anxious to commence operations
in Utah," reports Mr. Kronvold. "It has taken some time to get started while
UPDA focused on Canyon Creek, but with the remarkable success of UPDA's
operations in Texas, the resources now available will allow West to consider
opportunities that may otherwise have been out of reach."
In order to take advantage of those many opportunities, West will be
terminating its relationship with Dark Horse Exploration and Byron T.
Woodard. In conjunction with this termination, UPDA will increase its stake
in West to 70% and Masaood Group, LTD. and Kronvold will own 20% of the
outstanding shares.
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