Ubiquitech Software Corp (UBQU)

Description:

Ubiquitech Software Corp was incorporated under the laws of the State of Colorado on January 11, 2007. In June 2009, the Company changed to a proposed business encompassing two business units or divisions, including an esoteric clinical laboratory (previously known as the Institute for Molecular Pathology), and a research and development facility attached to the esoteric clinical laboratory. Its main strategy is to focus on the acquisition of oil and natural gas mineral leases that are at a minimum "drill ready" and ideally have existing production and cash flow. Its goal is to increase shareholder value by finding and developing oil and natural gas reserves at costs that provide a better-than-market rate of return on cash outlays and expenditures. As a commodity, global natural gas and oil prices respond to macro-economic factors affecting supply and demand. Subject to completion of the acquisition negotiated and set out in the LOI, it intends to concentrate its initial development efforts on the Oakley Lease. The Company anticipates implementing a concentrated drilling program on fields where Navitas became the Operator in mid 2010, provided that it is able to raise the funds necessary to do so. Currently, with active operations in the Illinois Basin, Navitas has reworked three wells on the Oakley Lease which it is bringing onto completion. Its goal is to increase shareholder value by finding and developing oil and natural gas reserves at costs that provide a better-than-market rate of return on cash outlays and expenditures. The Company expects to sell all or most of its production to a small number of purchasers in a manner consistent with industry practices at prevailing rates by means of long-term and short-term sales contracts, some of which might have fixed price components.