Message #34 From:
NewsBot Date: January 18, 2007 01:05:00 PM
UCPI News Unicorp Provides Update on Its St. Martinville Prospect with Potential Reserves of 1,000,000 Barrels of Oil
HOUSTON--(BUSINESS WIRE)--Unicorp, Inc. (OTCBB:UCPI) announced today that its St. Martinville
Prospect located in St. Martin Parish, Louisiana has been drilled to
7000 feet to date. The directional drilling phase has started and 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.
“We are pleased that we have not encountered
any significant drilling problems to date,”
stated Arthur Ley, COO of Unicorp. “We believe
that we will be finished drilling and should be logging the well within
three weeks at which time we will know if the well is 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.
