On Monday, crews from UPDA’s Aztec Well Services subsidiary installed down hole and surface equipment and connected the Clausen 24-6 to Heartland’s expanding gathering system. On Tuesday, the Oberheide and Peckman 41-18 began selling gas.
A total of 5 wells will be connected by the end of this week and Aztec’s equipment and crew will now proceed to complete and connect the remaining wells. Heartland has recently designed the perforation and fracture techniques to be employed on the 12 additional wells that were drilled by Aztec in Phase One and title review and permitting applications continue on the Phase Two program that has already seen the drilling of 3 more wells, bringing the total number of wells drilled since Heartland’s acquisition by UPDA to 20.
“We are very proud of the progress we have made in about 4 months,” reports Heartland CEO Steven A. Fall. “These 20 wells, together with the extension of our gathering system, should result in significant expansion of production and revenue from this field. We expect these first 5 wells alone to make a measurable impact and the numbers should just continue to rise.”
About Heartland Oil and Gas Corp.
In April 2007, Universal Property Development and Acquisition Corporation (OTC BB: UPDA) (FWB: UP1) acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA acquired additional wells and acreage in Palo Pinto County, Texas with current production of approximately 1000 mcfg/day and will soon transfer those wells as well as all of its wells and acreage in Jack County, Texas to Heartland. For further information, visit www.heartlandoilandgas.com
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.
Heartland Oil and Gas Corp.
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