Unicorp Begins Drilling at Laurel Ridge Prospect
Unicorp has commenced drilling on its North Laurel Ridge Prospect located in Iberville Parish, Louisiana. Unicorp has a 5% after casing point working interest and an approximate 4% net revenue interest in the well.
The North Laurel Ridge Prospect will be drilled to a depth of approximately 12,300 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.
"We are pleased that we are finally getting some of our prospects drilled during the second half of 2006," stated Arthur Ley, COO of Unicorp. "We believe that as we go into 2007 the rig market will loosen some which should allow us to be much more active in our drilling program."
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.
- Striker Signs Agreement with GEO to Evaluate Intl Offshore Concessions (Apr 29)
- Unicorp Announces 257% Growth In Proved Reserves (Feb 06)
- Unicorp Begins Operations at Pan American Fee Well in Louisiana (Sep 21)