This field was discovered in 1955 and to date has produced in excess of 1.7 million barrels of oil. It contains a total of 58 production wells, of which 25 wells are currently producing at a marginal rate, and 8 water injection wells. The total acreage of the lease is 4,000 acres with numerous untouched drilling locations available should the technology prove successful.
Kevan Casey, CEO of Unicorp, stated, "We are pleased to announce our first acquisition of a working interest in this South Texas oilfield. During the last several months we have refocused Unicorp from being a non-operating company to a company that is focused on delivering shareholder value through the acquisition of oil and gas properties. We are very excited about our future prospects."
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