Unicorp Announces Operations Have Begun on Its Pan American Fee Well Re-Entry
Unicorp, Inc. (OTCBB:UCPI) announces that operations have begun and the completion rig is moving to its Pan American Fee Well No. 1 located in Jefferson Davis Parish, Louisiana. The procedure to be performed is a recompletion of a well drilled by Sohio Petroleum in 1969 with the target formation being the 7,600 foot sand. Unicorp acquired this acreage with its recent Welsh Field acquisition and, if successful, has identified two additional well locations to be drilled.
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 Quarterly Report on Form 10-QSB for the quarter ended June 30, 2007, and Annual Report on Form 10-KSB/A (First Amendment) for the year ended December 31, 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.