UCPI News Unicorp Announces Operations Have Begun to Drill Its South Creole Prospect with Potential Reserves of 2.5 Bcf of Gas
HOUSTON--(BUSINESS WIRE)--Unicorp, Inc. (OTCBB:UCPI) announced today that operations have begun to
drill its South Creole Prospect located in Cameron Parish, Louisiana.
The South Creole Prospect will be drilled to a depth of approximately
11,300 feet to test the Planulina A. Total reserves are estimated to be
2.5 Bcf of gas. Unicorp will have a 28.3% working interest and
approximately a 21% net revenue interest in the well.
“November and December have been two very
active months for our company and we are anticipating good results from
our prospects,” stated Arthur Ley, COO of
Unicorp. “This prospect is unique in that the
production facilities are already in place and if successful we will
begin producing immediately after the drilling phase.”
About Unicorp
Unicorp, Inc. is primarily engaged in the acquisition, development,
exploration and production of crude oil and natural gas. Its focus is on
aggressively acquiring working interests in crude oil and natural gas
properties with the intent of exploration and development or by
enhancing production through the use of modern development techniques
such as horizontal drilling, satellite technology and 3-D seismic. The
company’s goal is to achieve a high return on
its investment by limiting its up-front acquisition costs, by quickly
developing its acquisitions and by practicing a sound and smart approach
to oil and gas exploration and development.
Safe Harbor Statement
This press release contains statements that may constitute
forward-looking statements, including the company’s
ability to successfully acquire oil and gas properties and drill
commercial wells. These statements are based on current expectations and
assumptions and involve a number of uncertainties and risks that could
cause actual results to differ materially from those currently expected.
For additional information about Unicorp’s
future business and financial results, refer to Unicorp’s
Annual Report on Form 10-KSB for the year ended December 31, 2005 and
Form 10-QSB for the quarter ended September 30, 2006. Unicorp undertakes
no obligation to update any forward-looking statement that may be made
from time to time by or on behalf of the company, whether as a result of
new information, future events or otherwise.
