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Universal Property Development & Acquisition Target Report Issued By Investrend Research Analyst Daniel Capo, CFA

Posted on: Monday, 9 January 2006, 09:00 CST

(Investrend Research Syndicate) Universal Property Development & Acquisition Corp. (OTCBB: UPDA) is a holding company for several joint venture subsidiaries engaged in oil & gas exploration and production, concentrated on the acquisition and development of proven oil and natural gas reserves and other energy opportunities, according to Investrend Research analyst Daniel Capo, CFA.

The largest asset on Universal's balance sheet is 1,000,000 shares of convertible preferred B stock of SiteWorks Building & Development Company (OTCBB: SWKJ).

The analyst added:

The company currently is involved in three joint ventures: Canyon Creek Oil & Gas Inc., West Oil & Gas Inc., and Winrock Energy Inc. (Domes Unit).

Unlike several micro cap E&P start ups, Universal Property is not a wildcat player. The company is focused on acquiring proven properties with deep production histories.

Universal's subsidiaries have started selling oil and gas which should directly improve the company's financial statements.

Production estimates based upon historical and partial production total millions of dollars per year in revenues.

The company has teamed up with well established partners.

Due to supply worries and energy market volatility, revitalization projects on mature US reserves should remain profitable as crude oil and wellhead natural gas prices are expected to remain above historical levels.

The company reported just over $10,000 in cash as of 9/30/2005, and has reported that $2 million dollars are required to execute its 2006 business plan. Cash flow from operations is projected to be insufficient to support expenditures; the company most likely will issue stock to raise funds.

Dilution is the key risk factor. As of November 1, 2005, UPDA had 23,774,986 shares outstanding. Based on the trading activity since November, we believe this number may be higher, though we could not get confirmation.

An InvestorPower(TM) page has been created regarding the company at http://www.investrend.com/company/list.asp?sPathParam=yes.

Investrend Research has been the leading independent equity research publishing and distribution program since 1996, with over 75 qualified professional analysts posting more than 1,000 reports to date. Anyone may enroll a company in the Investrend platforms. Enrollment fees for the Target research platform are $5,780, which was paid by Morgan Merchants, a third party. Analysts are paid in advance for their initial reports by Investrend Research to limit or eliminate pecuniary interests, and no one associated with the program may own or trade in the equities of companies under coverage.

The company has also been enrolled in the shareholder-monitoring program by the Shareholders Research Alliance (http://www.shareholdersresearch.com), established to eliminate conflict and bias, and Investrend subscribes to the exacting "Standards for Independent Research Providers" at http://www.firstresearchconsortium.com

Anyone interested in receiving alerts regarding Universal Property research or webcasts should e-mail contact@investrend.com with "UPDA" in the subject line, or click on http://www.investrend.com/contact.asp.

Source: Business Wire

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