Heartland Energy Press Releases

Continental Fuels, Heartland Oil and Gas, Universal Property Development Combine Operations, Reduce Costs
Monday, December 29, 2008 6:28 AM
HOUSTON As they prepare for the new year and a new era of business development, Continental Fuels (CNFU.PK), Heartland Energy Oil and Gas (HTOG.PK) and Universal Property Development (UPDV.PK) have combined their operations in order to reduce costs. As a result, Continental Fuels CEO Tim Brink has assumed control of the combined operation. “We have analyzed the operation from top to bottom and eliminated duplication of effort particularly in upper management and accounting,” reports Brink, now the CEO of the entire group of companies. “We continue to maintain sufficient personnel to operate all of the Heartland Energy wells as well as at the Port of Brownsville and Geer Tank Trucks. In the current economy, particularly in light of the falling price of oil and gas, we have moved aggressively to protect and pursue our business model.” With the cooperation and assistance of its main lender, Sheridan Asset Management, the restructuring will allow Heartland Energy to continue to grow as UPDA’s exploration and production arm and Continental Fuels, Inc. (www.continentalfuels.com) as its trading and marketing subsidiary. As a result, the new management expects to significantly expand shareholder value for the entire UPDA conglomerate. For more information about Heartland Oil and Gas Corp., please visit www.heartlandoilandgas.net

Heartland Completes $4 Million Expansion Program – Makes Final Connections on over 12 Miles of New Pipelines and 9 Additional Wells
Tuesday, September 30, 2008 5:36 AM
MIAMI COUNTY, Kan. Heartland Oil and Gas Corp. (OTC BB: HTOG) has made the final connections to its $4 million expansion program including 22,000 feet of new 4 inch flow lines, 22,000 feet of new water disposal lines and 18,000 feet of new 8 inch natural gas sales lines in its coalbed methane field in Southeastern Kansas. In addition, Heartland Energy has connected 9 new wells to this infrastructure and commenced the dewatering process in order to bring the wells to full production. “The Jake Field has made about 350-400 barrels of water since we turned on the new wells and the pressure we are seeing is very encouraging” reports Susie Glaze, Operations Manager of Heartland’s prime contractor, Aztec Well Services, Inc., another UPDA subsidiary. Since its acquisition by Universal Property Development and Acquisition Corporation, Heartland has drilled and completed over 20 new wells and trenched, laid and backfilled pipelines designed to support the development of thousands of acres contained within its area of interest in Miami and Linn Counties, Kansas. The recently connected wells have been fractured at depths ranging from 370 feet to 456 feet in the Lexington, Mulke and Summit coal seams. They have been connected to the salt water disposal system and should reach full production within the next several days.

Heartland Revenues Continue to Grow – Production in Jack County, Texas Exceeds 400 mcfg/day
Tuesday, September 02, 2008 5:00 AM
JACKSBORO, Texas While Heartland Oil and Gas Corp. (OTC BB: HTOG) continues work on its new wells and gathering system in Kansas, production from existing wells has further expanded resulting in additional revenue growth. At its Catlin Oil and Gas Field in Jack County, Texas, Heartland has completed additional well improvements and increased production to over 400 mcfg/day. Heartland has also expanded the production from its existing coalbed methane wells in Miami County, Kansas through enhanced maintenance procedures and accelerated replacement of downhole equipment. Total revenue from all natural gas operations, including 26 of 38 wells in Kansas in addition to the producing wells in Palo Pinto and Jack County, Texas, exceeded $330,000 during the month of July.

Heartland Fractures 8 New Wells – Continues Installation of 8 Miles of Flow Lines to Wells Expected to Double Coalbed Methane Production
Monday, August 11, 2008 5:05 AM
MIAMI COUNTY, Kan. Heartland Oil and Gas Corp. (OTCBB: HTOG) (FWB: HOCA) has successfully fractured the coal seams in 8 of its newly drilled wells in Miami County, Kansas and preliminary testing of the Prothe 42-3 indicates that the wells will deliver methane production in significant excess of the amount originally anticipated. Heartland Energy also has continued installation of about 44,000 feet of 4 inch flow lines with over 26,000 feet trenched, laid and backfilled in preparation for full production of the wells. “Our preliminary testing indicates that the Prothe 42-3 is making 50-60 mcf gas per day,” reports Susie Glaze, Operations Manager of Heartland’s prime contractor, Aztec Well Services, Inc., another UPDA subsidiary. “This is about double our target production amounts.” Within the past week, Heartland Energy has fractured the coal seams in the Reichert 14-2, the Reichert 13-2, the Reichert 43-3 and the Vohs 32-3. Heartland Energy has also completed the salt water disposal well necessary and testing indicates that this well has appreciably more disposal capacity than will be necessary for the maximum number of wells that it will be required to service. The wells have been fractured at depths ranging from 370 feet to 456 feet in the Lexington, Mulke and Summit coal seams. They will now be connected to the salt water disposal well for de-watering and will be prepared for production as the flow lines reach them.

Heartland Farmout Project Yields Well Producing 65 Barrels per Day in Northern Kansas – Further Drilling on Remaining 500,000 Acres Planned
Wednesday, July 23, 2008 10:05 PM
NEMAHA COUNTY, Kan. Heartland Oil and Gas Corp. (OTC BB: HTOG) was recently informed by its drilling partner that the first well drilled on Heartland’s farmout acreage in Northern Kansas yielded a well producing 65 barrels per day of crude oil. As a result of this success, Heartland Energy has undertaken planning to expand this farmout program and to begin drilling additional wells on the 500,000 acres it has under lease in this area. “This is obviously a very exciting prospect,” remarked Heartland Energy spokesman Jack Baker. “The discovery of a 65 barrel per day well in the heart of our vast acreage in Northern Kansas establishes great value in that acreage that we intend to aggressively exploit and since many of our leases up there have terms of 5 or 6 years or more, we will have drilling opportunities for many years into the future. Coupled with the successes of our coalbed methane fields in the southern portion of the state, our accomplishments in Kansas seem boundless.”

Heartland Completes and Successfully Pressure Tests 4 Mile Pipeline – Installation of Flow Lines to Commence for Connection of 12 Wells Expected to Double Coalbed Methane Production
Wednesday, July 02, 2008 8:27 AM
MIAMI COUNTY, Kan. Heartland Energy Oil and Gas Corp. (OTCBB: HTOG) has successfully conducted pressure testing on its new 4 mile pipeline in Kansas, signaling the completion of that pipeline. Work was then immediately commenced to install the flow lines to each of the 12 new wells to be connected in order to begin the sale of the coalbed methane being generated by those wells. With this successful testing and anticipated connection of 12 wells, Heartland Energy expects to double the coalbed methane production from this field in Southeast Kansas. In addition, vast additional acreage will be open for further development and drilling along the 4 miles to be accessed by the pipeline. “We put the necessary pressure into the pipeline and found no leaks along its entire length,” reports Augie Soto, COO of Aztec Well Services, Heartland’s prime contractor on the work. “The four road crossings and 2 creek crossings were our greatest concern and they held without any problems. The 8 inch main is tied into the 12 inch main and the pipeline is secure all the way to the sales meter. We will begin installation of the 4 inch flow lines without delay and have scheduled the contractor to fracture the wells so they are ready for production as soon as we can connect them.”

Heartland Posts Further Revenue Gains – Texas Natural Gas Production Exceeds $220,000 in May
Monday, June 30, 2008 11:51 AM
JACKSBORO, Texas Heartland Oil and Gas Corp. (OTCBB: HTOG) has achieved another milestone as it continues to expand the production from its oil and gas properties, posting revenues in excess of $220,000 from its natural gas fields in Texas. Combined with its expanding coalbed methane production in Kansas, Heartland posted total natural gas sales of more than $330,000 in May. With the completion of its nearly 4 mile pipeline expansion project and the subsequent connection of 12 additional wells in Kansas, Heartland Energy expects to double its coalbed methane production. This accomplishment will also allow Heartland to accelerate its efforts to further expand its natural gas production in Texas in the next phase of its well improvement plans directed at the 5 Barnett Shale wells Heartland Energy has completed in Palo Pinto County. As previously reported, those improvements will include the installation of a salt water disposal well and connection to a low pressure natural gas sales line. “With natural gas prices projected to continue their escalation, these additional production increases should result in exponential revenue growth,” remarked Heartland Energy Spokesman Jack Baker. “In light of the many obstacles we have encountered as we have pursued our business plan, including the tightening credit markets, soaring oil field service and supply prices and inclement weather, the undeniable success we are now achieving is most satisfying. These successes should translate into expanding shareholder value, the ultimate goal of every public company.”

Heartland Coalbed Methane Revenues Continue to Advance - 18,000 Foot Pipeline to be Completed by End of June and 12 Wells Connected - New Wells Expected to Double CBM Production
Wednesday, June 25, 2008 7:48 AM
MIAMI COUNTY, Kan.--(BUSINESS WIRE)--With revenues from its Coalbed Methane Field in Miami County, Kansas continuing to advance, Heartland Oil and Gas Corp. (OTC BB: HTOG) (FWB: HOCA) is expecting to soon double its production from this field with the completion of Heartland’s 18,000 foot pipeline expansion project and the subsequent connection of 12 additional wells. As demonstrated by the chart, since its acquisition by Universal Property Development and Acquisition Corporation (OTC BB: UPDV), Heartland’s gross revenue on production in Kansas has steadily increased and more than doubled to $110,729 in just 12 months. In addition to this increasing revenue, Heartland’s pipeline expansion will connect to 12 CBM wells Heartland Energy previously drilled and which production testing indicates will double the current output from this field. The pipeline will also open many more acres to additional drilling activity. “We expect to have the 8 inch main completed by the end of the week,” reports Susie Glaze, Operations Manager of Heartland’s prime contractor, Aztec Well Services, Inc., another UPDA subsidiary. “The pipe will be in the ground, buried, four road crossings made, 2 creek crossings and the 8 inch pipe will be hooked into the 12 inch main. The pipeline will be stubbed out at the salt water disposal well location and we intend to go directly back to the SWD well and take it down another 100-200 ft. with a smaller drill bit. We currently have the SWD well down to 1000 feet and it has been cased with 5 1/2" production pipe and cemented in. We expect to have the SWD well done by the end of the next week and then start moving tanks so we can turn on the production wells.” “The production increases we have been able to achieve from the existing wells are quite remarkable,” commented Heartland Spokesman Jack Baker. “And the numbers we have seen so far from the new wells are very encouraging. With the completion of the pipeline and connection of these 12 wells, we expect to double our production again and we can continue to drill new wells on the vast acreage accessible along the three miles of new pipeline. We are very optimistic that our revenue growth will accelerate at an even higher rate as we go forward with our plans.”

Heartland Oil & Gas Corp. Receives Updated ‘Speculative Buy’ from Beacon Equity Research
Tuesday, June 24, 2008 10:39 AM
DALLAS Heartland Oil & Gas Corp. (OTCBB: HTOG) receives reiterated ‘Speculative Buy’ from Beacon Equity Research Analyst Victor Sula, Ph.D. The full report is available at http://www.BeaconEquity.com/m. Anyone interested in receiving alerts regarding Heartland Oil & Gas Corp. research should e-mail members@beaconequity.com with “HTOG” in the subject line. In the report, the analyst writes, “With the completion of drilling operations over a two-year period, HTOG could boost production and gas sales to $36 million annually. Assuming a 30 percent EBIT margin, and a 10-year time horizon, this project could generate a Net Present Value in a $15 million range … we continue to think HTOG has attractive energy assets and significant growth potential. Accordingly, we are reiterating our Speculative Buy rating for Heartland Oil and Gas Corp. …” Other companies in the oil and natural gas industry include Abraxas Petroleum Corp. (AMEX: ABP), Petrosearch Energy Corp. (OTCBB: PTSG), Carrizo Oil & Gas Inc. (Nasdaq: CRZO) and Brigham Exploration Co. (Nasdaq: BEXP). Beacon Equity Research Disclosure The analysts contributing to this report do not hold any shares of HTOG. Additionally the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (“Beacon”) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. Beacon and its affiliates have been compensated a total of ten thousand two hundred and fifty dollars from OTCStockZone for enrollment of HTOG in its research program and other services.

Heartland Pursues Institutional/Private Equity Financing to Proceed with 300 Well Drilling Program
Monday, June 02, 2008 3:20 AM
New York, NY (June 2, 2008) The management of Heartland Oil and Gas Corp. (OTC BB: HTOG) (FWB: HOCA) recently initiated contact with institutional investors/private equity funds that specialize in oil and gas exploration and production and pipeline construction. These discussions have focused on the development of at least 300 wells over the next 12 to 24 months. In preparation for these discussions, Heartland Energy previously developed gas-in-place-maps and identified 300 drilling locations in its Southeast Kansas area of operation. Heartland also obtained reports from its consulting petroleum engineers establishing reserve projections for the 10 year production life of each of these wells at 0.1BCF (100,000 MCF). At current natural gas prices of $12/MCF, this means that every well should produce $1.2 million over the life of the well. Based on Heartland’s experience and knowledge obtained as a result of drilling and completing 21 wells, an injection well and building a 4 ½ mile pipeline, 99% of all wells drilled and completed in the Cherokee Basin produce gas in commercial quantities and the cost of each well on a turnkey basis including pipelines, flow lines and an injection well for every thirty producing wells is $130,000. Heartland Energy currently operates 38 wells in Miami County, Kansas, recently drilled and producing under this valuation formula. With the drilling of 300 additional wells at a total cost of $39 million, Heartland’s revenues should continue to grow at this rate or more in the ten years following completion of this expansion program. “These numbers represent only the organic growth projected for our Kansas operations,” reports Heartland Spokesman Jack Baker. “Heartland also has significant properties in Texas that currently generate even more revenue. Based on these numbers and on the limited number of shares issued and outstanding on a fully diluted basis, we are very optimistic about the prospects for expanding shareholder value.”

Record Revenues Posted by Heartland Oil and Gas in April – Pipeline Extension Nears Completion
Friday, May 30, 2008 1:35 AM
San Antonio, Texas Heartland Oil and Gas Corp. (OTC BB: HTOG) posted revenues from the sale of natural gas in excess of $266,000 during the month of April, including sales of more than $100,000 for the first time ever from its coal bed methane fields in Kansas. “The production from Kansas has been consistently increasing since UPDA first acquired Heartland Energy about one year ago and with the steady escalation of prices, revenues have increased at an even steeper rate,” remarked Heartland Spokesman Jack Baker. “With the 12 additional wells to be connected soon to the pipeline extension, revenue growth should become even more dramatic, perhaps as much as double.” “We have also greatly expanded production from our Catlin Oil and Gas Field in Jack County, Texas, generating over 300 mcfg/day as well as enlarging quantities of crude oil,” continued Baker. “These increases, coupled with the significant G & A and payroll cost reductions we implemented last year, should considerably strengthen our bottom line in the coming quarters.” Heartland continues its efforts to further enhance production with the nearing completion of construction of the 4 ½ mile pipeline extension to connect the 12 new wells in its Jake Coal Bed Methane Field and substantially expand its area of operations in Miami County, Kansas. In Palo Pinto County, Texas, Heartland will soon drill another salt water disposal well and is negotiating terms for connection to a highly efficient low pressure sales line which will allow for expanded production from Heartland’s 5 wells drilled and completed in the Barnett Shale. “Even in this difficult investment climate and despite steadily increasing costs for oil field equipment and services, we have maintained our commitment to the growth of our field operations,” concluded Heartland’s Baker. “Progress has been slower than anticipated but steady. We will continue to apply all available resources to the development of our vast acreage in Kansas and to exploit the considerable potential of our well-positioned assets in Texas. While the results we have already achieved are significant, we are even more confident in the promise of the future.”

Universal Property Development Management Update
Monday, May 19, 2008 4:29 AM
The Board and Management of Universal Property Development and Acquisition Corporation (OTC BB: UPDV) (www.universalpropertydevelopment.com) are pleased to report to the shareholders on the continuing operations of UPDA and its subsidiaries. Over the past year, UPDA has focused its efforts on building a group of companies that allowed it to become an integrated oil and gas company. We have acquired Heartland Oil and Gas Corp. (OTC BB: HTOG) (www.heartlandoilandgas.com), with its vast acreage in Kansas. We then transferred UPDA’s oil and gas production in North Texas, establishing Heartland Energy as our exploration and production arm. Continental Fuels was launched to become UPDA’s oil and gas marketing company, acquiring UPDA’s facilities at the Port of Brownsville and then purchasing Geer Tank Trucks, Inc., a long established crude oil and water hauling company in North Texas. Aztec Wells Services, Inc. was conceived to provide oilfield services and UPDA invested in the necessary equipment and machinery and recruited experienced management and personnel to properly maintain and expand its oil and gas assets. Our companies are growing and executing on their business plans. Since its acquisition by UPDA, Heartland has drilled 21 new wells, increasing its total number of wells to 38 in Kansas and 62 in Texas. Heartland’s current production exceeds one million cubic feet of natural gas per day, and its gross income exceeds $250,000.00 per month. This is in comparison to $35,000 in gross revenues generated by Heartland at the time it was acquired by UPDA in April 2007. Heartland Energy is now in the process of building a 4.5 mile pipeline that will enable it to connect 12 additional existing wells in Kansas, increasing production by a minimum of 400,000 cubic feet of gas per day and establishing a critical hub for further expansion. During the past year, UPDA and related parties provided Heartland Energy with over $4,000,000 that was invested in its Kansas operation. With this strategic investment, particularly in the pipeline and the gathering system, Heartland energy has solidified its dominance in the region as the exclusive source of gas transportation and treatment services, providing a competitive advantage as it seeks to obtain additional oil and gas leases. Heartland will continue to grow and execute its plans to extend its pipeline another 12-15 miles and drill additional wells along its expanding hub of operations in Southeastern Kansas. Aztec Wells Services, UPDA’s oilfield services and well drilling subsidiary, has been instrumental in contributing to the achievements of Heartland Oil and Gas in Kansas and Texas. In addition to drilling Heartland’s wells in Kansas, Aztec is now building its pipelines and maintaining and expanding Heartland’s production in Northern Texas. Continental Fuels has resumed shipping product from the Brownsville facility and successfully expanded the business being generated by Geer. UPDA has financed most of its expansion and acquisitions with debt which is being serviced by operational revenues. The restrictive covenants of those debt obligations have recently limited our ability to grow and pursue our ambitious expansion plans. It has also hindered our capacity to create maximum value. The challenges of a year ago to attract institutional money, private equity and private investors to our companies has changed and now that we have amassed quality assets within our subsidiaries and are generating revenues that are attracting the sought-after attention, we must now refocus our strategy to achieve expanding shareholder value. With some of our subsidiaries reaching levels where they can stand on their own and develop their business plans outside the scope of UPDA’s day to day control, our plan is to allow those subsidiaries to become more autonomous. Going forward, we will continue to work with our public subsidiaries, providing assistance for further acquisitions, growth and alignment with capital. Heartland Energy and Continental have matured to the level where capital is very crucial for their expansion and the retirement of the existing restrictive debt is a necessity. With the recapitalization of these companies, they are well positioned to achieve greater successes on their own. With this expanding autonomy, we at UPDA intend to distribute more of these companies to our shareholders once the capital is secured and the debt is retired. With respect to Aztec, it has been determined that additional acquisitions are needed to diversify its client base and expand its geographic reach. With access to proper financing, as well as additional preparations to insure an adequate capital structure, its capacity for autonomy will also be established. It has been a challenging and rewarding year for UPDA as it has matured from start up to an established company with solid assets and expanding revenues. With its well focused goals and refined strategy, management is confident of the future success to be enjoyed by our loyal shareholders.

Heartland Oil and Gas Post Record Revenues from Gas Sales in January – Production Enhancement Projects Continue
Wednesday, March 05, 2008 3:20 AM
SPRING HILL, Kan During January 2008, Heartland Oil and Gas Corp. (OTC BB: HTOG) generated revenues from the sale of natural gas in excess of $137,000 from its properties in Texas and more than $81,000 from its coal bed methane fields in Kansas. Even without the sale of any oil during the month, these revenues far exceed any amount previously reported by Heartland. In addition to this expanding revenue, Heartland Energy Colorado continues its four pronged production enhancement efforts by accelerating the construction of a 4 ½ mile pipeline to connect 12 wells in its Jake Coal Bed Methane Field and commencing the application of its two-stage well recompletion program to 16 of its existing wells in Kansas as well as pursuing negotiations to acquire a connection to a low pressure pipeline in order to bring more wells online in its Palo Pinto Field and undertaking a well recompletion program in its Catlin Field in Northern Texas. While the revenues from Texas result from the transfer of producing wells from Heartland’s parent, Universal Property Development and Acquisition Corporation (OTC BB: UPDA), the production generated in Kansas results from the drilling of new wells and the enhancement of wells from Heartland’s vast acreage in Eastern Kansas. “Our efforts continue to show impressive success,” remarked Heartland CEO Kamal Abdallah. “The revenues in January did not even include any oil sales yet we have posted numbers in Kansas alone that are more than double any previous results. With the new pipelines and connections we are working on and the well improvements that are bringing more production from each well completed, we expect continuing improvement in our numbers.

Heartland Oil and Gas Rated 'Speculative Buy' Target Price $.22 by Beacon Equity Research
Tuesday, February 26, 2008 10:05 PM
Heartland Oil and Gas (OTCBB: HTOG - News) has been rated Speculative Buy with a price target of $.22 by Beacon Equity Research Analyst, Lisa Springer, CFA. The full report is available at http://www.BeaconEquity.com Anyone interested in receiving alerts regarding Heartland Oil and Gas research should email members@beaconequity.com with “HTOG” in the subject line. In the report, the analyst writes, “Heartland Energy Oil and Gas Corp. (HTOG), an exploration and production company, is developing oil, natural gas and coal bed methane gas resources in eastern Kansas and Texas. The Company’s exploration activities focus on the Cherokee and Forest City Basins, which are believed to be two of the largest US coal bed methane (CBM) basins. HTOG has assembled a strong team of consultants consisting of seasoned geologists, petroleum engineers and technicians to implement an aggressive drilling and pipeline expansion program in eastern Kansas. The Company plans to drill 30 new wells per quarter in 2008.” Other companies in the energy sector include Abraxas Petroleum (AMEX: ABP - News), PetroSearch Energy (OTCBB: PTSG - News), Carrizo Oil & Gas (NASDAQ: CRZO - News), and Newfield Exploration (NYSE: NFX - News). Beacon Equity Research Disclosure The analysts contributing to this report do not hold any shares of Heartland Oil and Gas (HTOG) Additionally the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (“Beacon”) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. Beacon Equity Research and its affiliates have been directly compensated a total of seven thousand five hundred dollars from a non-controlling third party for enrollment of HTOG in its research program. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.

Heartland Oil and Gas Accelerates Pipeline Expansion in Kansas
Sunday, February 10, 2008 10:06 PM
Spring Hill, Kansas Heartland Oil and Gas Corp. (OTC BB: HTOG) has directed its primary contractor, Aztec Well Services, to accelerate the pace of construction of its new pipeline in Eastern Kansas. As a result, at the end of last week, Aztec had fused over 3750 feet of 8 inch pipe and has cleared the right of way in preparation for tie-in to Heartland’s main 12 inch pipeline. This pipeline is being completed in order to connect 12 additional wells in Heartland’s Jake pilot location. Aztec will also perforate and fracture the wells and drill an injection well to dewater the producing wells. The new 8 inch pipeline will total 4.5 miles and will connect Jake to Heartland’s Lancaster gas processing plant. This will add another 12 wells to the 26 wells that are already connected. Once the pipeline extension is completed, Aztec will continue drilling wells adjacent to the right of way. “The Aztec field personnel in Kansas have enthusiastically accepted responsibility to complete this expansion program,” reports Kamal Abdallah, Chairman and CEO of Heartland as well as UPDA, the parent corporation of both Aztec and Heartland Energy. “We have purchased the additional equipment necessary to accelerate the program, completed the required permits for road crossings and directed our land staff in Kansas to pursue further leases along the right of way. We fully expect to bring the existing wells online without further delay and to proceed with the drilling program contemplated when we first acquired Heartland.”

Heartland Accepts Resignation of Interim President – Prepares to Execute Oil and Gas Field Development Plans
Monday, February 04, 2008 4:29 AM
In an effort to reduce costs and increase operational communication and efficiencies Heartland Oil and Gas Corp. (OTCBB: HTOG) has accepted the resignation of Interim President Steven Fall and terminated the administrative staff of its Houston office. With development plans for the expansion and improvement of its oil and gas fields in Texas and its coalbed methane properties in Kansas substantially complete, Mr. Fall and the Heartland Board negotiated terms for his departure. “Since the focus of Heartland’s efforts from this point forward will be in the fields, it was decided that the executive staff of the home office was no longer necessary,” explained Heartland Chairman Kamal Abdallah. Mr. Abdallah is also Chairman and CEO of Heartland’s majority shareholder, Universal Property Development and Acquisition Corporation (OTCBB: UPDA) and will now assume the role of CEO of Heartland Energy without compensation. “We will now direct the execution of the development plans through UPDA’s Aztec Well Service subsidiary. This will result in a significant reduction of costs and the elimination of bureaucratic delays,” continued Chairman Abdallah. We have great confidence that Aztec’s field personnel can accomplish our objectives with great efficiency.”

Heartland Oil and Gas Continues Production Enhancement and Well and Pipeline Expansion Projects in Texas and Kansas
Monday, January 14, 2008 9:11 AM
HOUSTON Heartland Oil and Gas Corp. (OTCBB:HTOG) continues its aggressive drilling and pipeline expansion projects in Eastern Kansas and has completed the planning and testing necessary to undertake production enhancement projects on several of its wells in Northern Texas. In Southeast Kansas, Heartland is presently working to connect 12 additional wells in its Jake pilot location. The work entails perforating and fracturing the wells, drilling an injection well to dewater the producing wells and build 4.5 miles of 8 inch pipeline that will connect Jake to Heartland’s Lancaster gas processing plant. This will add another 12 wells to the 26 wells that are already connected. The Second project in Southeast Kansas is a result of the successful development of a new two stage fracturing technique that has produced impressive results when applied to several of Heartland’s recently drilled wells. The new fracturing technique will now be applied to the original 16 new wells. This is a very inexpensive way to substantially increase production from those wells. In North Texas, Heartland has undertaken recompletion work on 10 wells in Jack County in zones that have not been previously produced but which new testing logs prepared by Schlumberger and analyzed by Heartland engineers showed substantial gas in place behind pipe. The tubing in some of the wells has been pulled and fracturing procedures have been designed. Upon completion of these procedures, which are scheduled to be commenced in the coming few days, a very positive impact on Heartland’s oil and gas production is expected. In Palo Pinto County, Texas, Heartland Energy will be working to bring the Barron #2, the Barron #3, the Barron #6, the Barron #9 and the Keck #1, in addition to the already producing Barron #5, into production from the Barnett Shale zones into which they were drilled and many were previously fractured. Producing these zones will require Heartland to drill a salt water injection well or acquire a non-producing well to convert to an injection well in order to dispose of the additional water expected to be generated from the Barnett Shale zones.

Heartland’s goal is to accomplish all of these projects by the end of the 1st Quarter of 2008. Going forward, Heartland’s focus will be to drill 30 new wells in Kansas every quarter based on the gas in place maps prepared by its engineers and geologists. In a continuing effort to build shareholder value, the management of Heartland is working diligently to increase the production and reserves of the company and is developing a comprehensive plan for all Heartland assets in North Texas and Southeast Kansas as well as the 700,000 acres under lease in North Kansas.

UPDA Board reports to Shareholders
Wednesday, January 02, 2008 3:20 AM
SAN ANTONIO The Board and Management of Universal Property Development and Acquisition Corporation (OTC BB: UPDA) (www.universalpropertydevelopment.com) is proud to report that 2007 was the year the UPDA mainstreamed its business operations into three distinct subsidiaries, resulting in greater efficiencies and expanding opportunities. In the first half of the year, we acquired control of two public companies and purchased additional valuable assets. As the year progressed, we established Heartland Oil and Gas Corp. (OTC BB: HTOG) (www.heartlandoilandgas.com) as our exploration and production subsidiary, incubated Continental Fuels, Inc. (OTC BB: CFUL) (www.continentalfuels.com) to serve as our subsidiary responsible for marketing, trading and terminal operations and created Aztec Well Services, Inc. to provide oil field and well services.
Heartland Oil and Gas Corp.
In April 2007, we completed the acquisition of Heartland Oil and Gas Corp. with its existing production and close to a million acres under lease in Kansas. Since that time, Heartland Energy has drilled 21 additional wells. By the end of the year, 10 of those wells had been completed and connected, nearly tripling Heartland’s production in Kansas. Later in the year, UPDA continued the establishment of Heartland as its E & P subsidiary by transferring 13 producing wells in Palo Pinto County, Texas, and UPDA’s 65 wells and approx 3000 acres in Jack County, to Heartland. As UPDA expanded its interest in Heartland to over 80%, Heartland’s revenues have increased from $35,000 month to close to $300,000 and production continues to expand. Furthermore, Heartland has built a very capable team of Geologists, Petroleum Engineers and Technicians to plan the next phase of expansion and drilling programs and advance the company to a higher level. Continental Fuels, Inc. Also in April 2007, UPDA acquired over 80% ownership of Continental Fuels, Inc. and transferred to Continental its facilities at the International Port of Brownsville, Texas and the light crude trading business operating out of those facilities. In May 2007, the Management of Continental increased the condensate business from 15,000 BBL per month to over 60,000 BBL per month in June 2007, and monthly sales averaged close to $4 million per month in the 3rd quarter of this year. In December 2007, Continental completed the acquisition of Geer Tank Trucks (www.geertanktrucks.com), an oil purchasing and transport company established in North Texas in 1945 currently generating $50 million in annual revenue.

Continental’s management has assembled a very talented team and grown the company’s assets and revenues very successfully in the 8 months since its acquisition by UPDA. Based upon historical numbers, as Continental enters the New Year, it is generating approximately $4 million per month from the Brownsville Terminal and another $4 million per month from Geer. Aztec Well Services, Inc. In June 2007 Aztec Wells Services, Inc., a wholly owned, privately held subsidiary of UPDA, completed the acquisition of certain assets and equipment which included drilling rigs, pipeline trenching equipment and other machinery and equipment vital for our operations. In addition to this equipment and machinery, Aztec has assembled a capable management team and field personnel with extensive experience in all aspects of field operations and well drilling and management in UPDA’s geographical areas of interest. In 2007, Aztec drilled and completed 21 wells for Heartland of which 10 wells are connected and 11 will be connected after the pipeline is in place. In addition, Aztec has been assisting in the improvement of the fields in Texas, resulting in significant cost controls and production expansion. In 2008, Aztec intends to increase the pace of drilling operations for Heartland Energy Colorado and expand its third party contracts in both Kansas and Texas. As we look forward, we are very optimistic about the future, the energy sector is still robust and our opportunities for expansion are very promising. In 2007, the growth of our business and the development of our subsidiaries transformed UPDA into an Energy Holding and Incubation company. UPDA now focuses more on M & A activities to assist our subsidiaries to expand assets and revenue. In addition, UPDA provides oversight, financial, legal and technical management in order to build value and to prepare the subsidiaries to move to bigger exchanges. As demonstrated by our growth and acquisition strategies, the UPDA Board and Management are committed to building shareholders’ value. Although the value that we have created in our subsidiaries is yet to be realized in the value of UPDA, we remain confident of success as we enter 2008.

Heartland Oil and Gas Corp Receives Strong Upgrade by Respected Research Firm
Wednesday, December 12, 2007 8:44 AM
HOUSTON Heartland Oil and Gas Corp. (OTCBB:HTOG) is pleased to announce a well-respected firm, Bridge IR Group, has upgraded their equity rating on HTOG. This strong upgrade comes at a time when HTOG reported they have installed new equipment to enhance production from its Barnett Shall wells in Palo Pinto County, Texas. This upgrade is also due to the company initiating production from the 5 coalbed methane wells it completed in Southeastern Kansas last week. Bridge IR is noted for their work with account executives, analysts, portfolio managers, institutions, venture capital investors, individual investors and the media. To view the entire independent research report, please click on the attached URL: http://bridgeir.com. Heartland CEO Steven A. Fall stated, “We are honored to have a well respected independent research firm review our overall operations, progress and to provide a strong upgrade in our stock. This offers further confirmation to our shareholders that our company is headed in the right direction." Mr. Fall further stated, "We have drilled 20 new wells in Kansas and now 10 of them will have been turned to production. We have doubled our overall production with the connection of the first 5 wells. When we first assumed control at Heartland, the production was about 200 mcfg/d and now we are at about 500 mcfg/d."

Heartland to Connect Newly Completed Wells in Kansas – Additional Production to be Delivered to Sales Line
Tuesday, December 11, 2007 8:24 AM
Houston, Texas Heartland Oil and Gas Corp. (OTC BB: HTOG) will this week install surface equipment and initiate production from the 5 coalbed methane wells it completed in Southeastern Kansas last week. The five wells completed in Kansas last week, including the Warring 31-8, Peckman 23-8, Peckman 22-8, Prothe 43-1 and Clausen 23-6, are located in Heartland’s Lancaster pilot in Miami County, Kansas. These wells were perforated and frac’d in multiple coal zones and the Warring 31-8 was also completed in a very promising sand zone. They are expected to substantially increase the overall production from this pilot. They will be equipped with pumping units and connected to Heartland’s expanding gathering system and turned to production as soon as the flow lines are installed. “We have drilled 20 new wells in Kansas and now 10 of them will have been turned to production,” reports Heartland CEO, Steven A. Fall. “We nearly doubled our overall production with the connection of the first 5 wells. When we first assumed control at Heartland Energy, the production was about 200 mcfg/d and now we are at about 500 mcfg/d and we are continually improving our techniques and processes and retaining local professionals and experienced consultants in order to achieve even better results as we proceed. The expansion of our gathering system is also opening many more of our leases for further development.”