Canyon Creek Completes Transaction on Starr County Field - Retains Consultant to Continue Work Over Projects.HOUSTON -- Canyon Creek Canyon Creek can mean the following:
See OTC Bulletin Board (OTCBB). :UPDA UPDA Urban Planning and Development Authority (Qatar) ) has completed the assignment of a one half interest in its Starr County oil and gas field to Avalon Oil and Gas, Inc. (OTCBB:AOGS AOGS Angle Opposite Greater Side (math theorem) ) and has retained Melvin Klotzman Oil and Gas Consultants of Victoria, Texas to prepare an AFE (Apple File Exchange) An earlier Macintosh utility that converted data files between Mac and PC formats. It also included a file translator between IBM's DCA format and MacWrite. for the work over and drilling program to be performed on that property and others. For this one-half interest, Canyon Creek received total consideration of approximately $1,000,000, of which $75,000 was in cash and 7,500,000 shares of common stock in AOGS. Avalon will also provide half of the monies necessary to work over the 4 existing wells and to drill as many as 8 new wells. In addition to the Starr field, Klotzman has agreed to submit an AFE for the Canyon Creek Giddings lease in Fayette County Fayette County is the name of eleven counties in the United States:
"Melvin Klotzman is an experienced and extremely capable oil and gas man," said Steven A. Fall, President of Canyon Creek. "With his assistance, we expect to move quickly on the projects in which he has agreed to become involved." In other news, the Board of Directors of Canyon Creek recently met and accepted the resignation of Don Orr and appointed Steven A. Fall as its new president. 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. About CCOG CCOG Canadian Council on Geomatics CCOG Centralina Council of Governments (Charlotte, North Carolina) CCOG Centre Culturel Oumarou Ganda CCOG Communauté de Communes de l’Ouest Guyanais CCOG Common Classification of Occupational Groups Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin. The Company has also acquired properties located in Inez Field in Victoria County and Giddings Gas Field in Fayette County, Texas Fayette County is a county located in the U.S. state of Texas. As of 2000, the population was 21,804. Its county seat is La Grange6. Fayette is named for the Marquis de la Fayette, a French nobleman who became an American Revolutionary War hero. . Canyon Creek continues a revitalization program on all of its properties in order to improve production and bring more wells on line. Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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. |
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