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Beacon Research Issues TraderNotes on UPDA, TOPT, GSPG, OXY, APC for December 20, 2007

Today’s TraderNotes include: Universal Property Development and Acquisition Corp. (OTCBB: UPDA), TOP Tankers, Inc. (Nasdaq: TOPT), GoldSpring, Inc. (OTCBB: GSPG), Occidental Petroleum Corp. (NYSE: OXY), Andarko Petroleum Corp. (NYSE: APC)

 

Universal Property Development and Acquisition Corp. (UPDA) TraderNote - UPDA Finding Momentum in Yesterday’s Trade

 

Universal Property Development & Acquisition Corporation (UPDA) closed yesterday at 0.02, a slight negative change of 0.002 or a decline of 9.09% from the previous close of 0.022. Universal Property Development and Acquisition Corporation (UPDA) operates as a publicly funded oil and gas company that targets projects with high net revenue interests and proven energy reserves, where risk has been substantially reduced by technical evaluation and geophysics. UPDA is finding momentum in trading as it engages in the acquisition, production, development, storage, distribution, and blending of oil and natural gas in lucrative project areas.   UPDA, through its subsidiary, Canyon Creek Oil & Gas, Inc., owns approximately 63 wells on 2,772 acres located in the Ft. Worth Basin and other parts of Texas.  In yesterday's trading, UPDA traded a volume of 591,900 shares within the range of 0.020 – 0.022.  Share prices touched the 52-week and year low rate of 0.020 at yesterday's close, establishing a significant support level.  At present, it has 787.36M shares outstanding.

 

TOP Tankers, Inc. (TOPT) TraderNote – TOPT Boosted by Its Sale of a 1992-Built Double-Hull Suezmax Tanker

 

TOP Tankers, Inc. (TOPT) actively traded yesterday with a volume of 1,720,798 shares valued at US$6.17M in 2,636 transactions.  TOP Ships Inc., with its company name recently changed from TOP Tankers Inc., is an international provider of worldwide seaborne crude oil and petroleum products and of drybulk transportation services. The Company operates a fleet of 20 tankers, consisting of 12 double-hull Suezmax tankers and 8 double-hull Handymax tankers, with a total carrying capacity of approximately 2.2 million dwt, of which 87% are sister ships, and one drybulk vessel.  It expects delivery of five more drybulk vessels between December 2007 and March 2008. It recently sold a 1992-built double-hull Suezmax tanker for an undisclosed amount. The 149,599 deadweight ton vessel is expected to be delivered in January.  Suezmax vessels are the largest vessels that can fit through the locks of the Suez Canal.  In yesterday's trading, TOPT closed at 3.59, a positive change of 0.17 or an increase of 4.97% from the previous close of 3.42. At present, it has 28.08M shares outstanding.

 

GoldSpring, Inc. (GSPG) TraderNote – GSPG Fast-Tracked Drilling in Its Comstock Lode Project and Actively Traded Yesterday with 114,050,991 Shares

 

GoldSpring, Inc. (GSPG) actively traded yesterday with 114,050,991 shares valued at US$1.46M in 1,044 transactions.  GoldSpring, Inc. engages in the exploration and development of mineral producing properties in northern Nevada. It holds interests in Plum Mine gold and silver lode claims located in Storey County and Lyon County, Nevada; Como, Gold Canyon, and Spring Valley gold and silver claims located in Canyon County; and Big Mike Lode and Placer copper claims located in Pershing County, Nevada. GoldSpring, Inc. has recently entered into an agreement with Orbit Garant Drilling, Inc., one of the largest drilling companies in North America, to perform exploration and developmental drilling at its recent Comstock Lode Project, with the drilling operation to commence immediately. In yesterday's trading, GSPG closed at 0.013, a positive change of 0.002 or an increase of 18.18% from the previous close of 0.011. At present, it has 20.3M shares outstanding.

 

Occidental Petroleum Corporation (OXY) TraderNote – OXY Gains Strength from Heavy Reserves of 2,234 Million Barrels of Oil and 3,810 Billion Cu. Ft. of Natural Gas

 

Occidental Petroleum Corporation (OXY) closed yesterday at 71.95, a positive change of 1.59 or an increase of 2.26% from the previous close of 70.36. Occidental Petroleum Corporation, through its subsidiaries, primarily engages in the exploration, development, production, and marketing of crude oil and natural gas in the United States and internationally. It holds interests in the Permian basin located in West Texas and New Mexico; Elk Hills oil and gas field in California; Hugoton field located in Kansas and Oklahoma; Horn Mountain oil field in the Gulf of Mexico; and the Piceance basin located in Western Colorado. As of December 31, 2006, the Company had proved reserves of approximately 2,234 millions barrels of oil and 3,810 billion cubic feet of natural gas. Further, it manufactures and markets basic chemicals, vinyls, and performance chemicals. In yesterday's trading, OXY heavily traded with a volume of 5,413,330 shares within the range of 70.75 – 72.40.  Share prices rose to high of 72.40, just 1.93 below the 52-week and year high rate of 74.33, establishing a significant resistance level.  At present, it has 828.60M shares outstanding.

 

Anadarko Petroleum Corporation (APC) TraderNote – APC Approached Year High Rate of $64.57 in Yesterday’s Trade

 

Anadarko Petroleum Corporation (APC) closed yesterday at 63.29, a positive change of 1.44 or an increase of 2.33% from the previous close of 61.85. Anadarko Petroleum Corporation engages in the acquisition, exploration, and production of oil and gas primarily in the United States, the deepwater of the Gulf of Mexico, and Algeria. It markets natural gas and oil and natural gas liquids (NGLs), as well as owns and operates gas gathering and processing systems. The company also engages in the hard minerals business through non-operated joint ventures and royalty arrangements in various coal, trona, and industrial mineral mines located on lands within and adjacent to its Land Grant holdings. In addition, it purchases natural gas, crude oil, and natural gas liquid volumes for resale. In yesterday's trading, APC traded a volume of 4,076,126 shares within the range of 62.06 – 64.00.  Share prices rose to a high of 64.00, just 0.57 below the 52-week and year high rate of 64.57, establishing a significant resistance level.  At present, it has 466.36M shares outstanding.

 

Beacon Equity Research Disclosure

 

The analysts contributing to this report do not hold any shares of Universal Property Development and Acquisition (UPDA).  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 compensated seven thousand five hundred dollars from a non-controlling third party for enrollment of UPDA in this 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.
 
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