UPDA Trading Receives Corporate Offer - Gathers Legal Crossing Documentation and Signed Customs Power of Attorney - Prepares for Delivery of First Shipment Via Rail.LAREDO, Texas -- The trading subsidiary of Universal Property Development and Acquisition Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :UPDA UPDA Urban Planning and Development Authority (Qatar) ) has made its final arrangements with Trevino International custom brokers out of Matamoros Tamaulipas for the receipt of its initial shipment of crude oil condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. from PEMEX Pemex officially Petróleos Mexicanos Mexico's state-owned oil company. In 1938 Pres. Lázaro Cárdenas nationalized 17 foreign oil companies to create Pemex, the largest Latin American petroleum company and a major world exporter of fossil fuel. , the national oil company of Mexico. Trevino International will be attending to all of UPDA's legal crossing documentation and they have been provided with a customs power of attorney. UPDA will receive the initial delivery via rail car at its new terminal facility in Brownsville, Texas Brownsville is the county seat of Cameron County, Texas, United States, the southernmost city in Texas. As of 2005, U.S. Census estimates put Brownsville at a population of 167,493. and all of the necessary MSDS MSDS Material Safety Data Sheets, see there data info and safety manuals have been submitted. A sample of the condensate to be delivered was sent to Houston for an analytical report. Some of the results are: gravity 50% at 60 degrees F, ASTM-5662 vapor pressure vapor pressure, pressure exerted by a vapor that is in equilibrium with its liquid. A liquid standing in a sealed beaker is actually a dynamic system: some molecules of the liquid are evaporating to form vapor and some molecules of vapor are condensing to form liquid. 3.11 psi, ASTM ASTM abbr. American Society for Testing and Materials D-5191 sulfur at 78 ppm, ASTM D-2622 heptanes plus 86.33 ASTM D-5134. Augustine Soto, UPDA representative in Mexico said, "We are ready now to move forward with this transaction. All of the safety data and customs permits are in place. The formality of the corporate offer has been achieved. The quality of the product is satisfactory. We should receive our initial delivery in the near future and then receive regular deliveries as agreed." The activity of UPDA's trading subsidiary will be reported together with all of its well production at www.universalpropertydevelopment.com. About UPDA Universal Property Development and Acquisition Corporation (OTCBB:UPDA) 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 rights and leases and cutting-edge technologies. About PEMEX Petroleos Mexicanos (PEMEX) is Mexico's state-owned, nationalized petroleum company. PEMEX not only fuels Mexico's automobile engines, the company also fuels the nation's economy, accounting for some one-third of the Mexican government's revenues and 7% of its export earnings. The integrated company's operations, spread throughout Mexico, range from exploration and production to refining and petrochemicals. PEMEX's P.M.I. Comercio Internacional subsidiary manages the company's trading operations outside the country. PEMEX has proved reserves proved reserves The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources. of 16 billion barrels of oil and 14.8 trillion cu. ft. of natural gas. 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. Note to Editors: There should be an accent over the first "o" in "Petroleos" above. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion