Message #32 From:
NewsBot Date: January 3, 2007 01:05:00 PM
UCPI News Unicorp Announces Operations Have Begun to Drill Its St. Martinville Prospect with Potential Reserves of 1,000,000 Barrels of Oil
HOUSTON--(BUSINESS WIRE)--Unicorp, Inc. (OTCBB:UCPI) announced today that operations have begun to
drill its St. Martinville Prospect located in St. Martin Parish,
Louisiana. The St. Martinville Prospect will be drilled to a depth of
approximately 13,000 feet to test the Marg Tex-3 sands as seen in the
Trinity Resources Ranzino Well No. 1. Total reserves are estimated to be
1,000,000 barrels of oil and Unicorp will have an 18.5% net revenue
interest.
“This prospect should be drilled to total
depth within the next thirty to forty-five days and logging should
commence shortly thereafter,” stated Arthur
Ley, COO of Unicorp. “We are happy to begin
2007 with a prospect that has the potential to add significant reserves
to our base if it proves successful.”
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.
