UPDA Texas Trading Subsidiary Makes First Delivery of Unleaded Gasoline -- Expansion Continues into Blending and Distribution of Refined Products
Tuesday January 9, 6:29 am ET
SAN ANTONIO--(BUSINESS WIRE)--Universal Property Development and Acquisition Corporation (OTCBB: UPDA - News) subsidiary, UPDA Texas Trading, Inc. will this week make its first delivery of unleaded gasoline to a distributor serving the San Antonio, Texas market. This delivery signals the continued expansion of UPDA and is the result of the evolution of UPDA's network of vendors and partners in the energy industry.
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Working in conjunction with partners experienced in the blending of fuels, UPDA has agreed to the development of a unique formula for unleaded gasoline and will increase the volume of its production utilizing the storage facility UPDA's US Petroleum Depot subsidiary has acquired in Brownsville, Texas. UPDA is also in the process of cultivating a distribution network to market and deliver this gasoline to independent dealers and retail outlets. As this network matures, UPDA anticipates the acquisition of additional storage and blending facilities.
UPDA's expansion into blending and distribution, initiated in June, 2006, is being directed by Timothy Brink, the former Branded Retail Representative of Hess Corporation (NYSE: HES - News) and President of Magna Oil, a private gasoline retailer in Florida. Mr. Brink, an engineer and MBA brings more than 16 years experience in the oil and gas business to UPDA.
"This expansion demonstrates UPDA's firm commitment to mature into a full service energy concern," reports UPDA Vice President Chris McCauley. "With Tim's experience and relationships in this facet of the business, UPDA expects to progress rapidly, establishing brand recognition and customer loyalty. As time goes on, we anticipate seeing the UPDA logo on tank trucks and gas pumps as well as on pump jacks and storage tanks."
UPDA's continued expansion will be reported together with all well production at www.universalpropertydevelopment.com.
About UPDA
Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Contact:
Universal Property Development and Acquisition
Corporation
Bradford Moore, 561-630-2977 (Investor Relations)
info@updac.com