Message #30 From:
NewsBot Date: December 13, 2006 01:05:00 PM
UCPI News Unicorp Increases Its Working Interest Position to 25% from 15% on Its Clemens Dome Prospect with Potential Reserves of 30-40 BCF
HOUSTON--(BUSINESS WIRE)--Unicorp, Inc. (OTCBB:UCPI) announced today that it has elected to
increase its after casing point working interest position in its Clemens
Dome prospect to 25% from 15%. The company’s
before casing point interest has increased to 29.412%. This prospect is
located in Brazoria County, Texas and will be drilled to an approximate
depth of 14,500 feet to test the Lower Nod, Tex Miss and Vicksburg
formations. Total gross reserve potential varies from 30 to 40 BCF based
upon which zones are productive. It is anticipated that drilling
operations will begin during the first fiscal quarter of 2007.
“This has been a prospect that we have been a
part of for over a year and we are happy to finally have a drilling date,”
stated Art Ley, COO of Unicorp. “If
successful, this prospect could be one of our biggest finds to date for
our young company.”
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.
