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Unicorp Announces the Successful Drilling of Its North Laurel Ridge Prospect With Potential Reserves of 1,000,0000 Barrels of Oil and 3 Bcf of Gas

Posted on: Monday, 27 November 2006, 18:00 CST

Unicorp, Inc. (OTCBB:UCPI) announced today that the drilling of its North Laurel Ridge Prospect located in Iberville Parish, Louisiana has been completed to a total depth of approximately 12,200 feet. The well is expected to be logged within the next several days at which time a decision to run production casing will be made. During the drilling operations there were three reported oil and gas shows in separate zones. Unicorp has a 5% working interest and an approximate 4% net revenue interest in the well.

The North Laurel Ridge Prospect was drilled to a depth of approximately 12,200 feet to test the Cibicides Hazzardi 1 thru 5 sands updip to the KCS Claiborne Plantation Well #1 which tested at 1,039 BOPD and 872 Mcfpd from the Cib.haz #4 sand. Total reserves are estimated to be 1,093,000 barrels of oil and 3.3 Bcf of gas.

"The drilling operations are running as expected and we are optimistic that we will have a productive well," stated Arthur Ley, COO of Unicorp. "We are excited that there were oil and gas shows during the drilling and expect to have a much clearer picture after the logs are run in several days."

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.

Source: Business Wire

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