Unicorp Acquires 60 Square Miles of 3-D Seismic in Abbeville Field
Unicorp has acquired 60 square miles of 3-D seismic in conjunction with the acquisition of additional working interests in the Abbeville Field located in Vermillion Parish, Louisiana. Unicorp intends to process the data and begin developing additional drilling prospects. The additional interests acquired in the Abbeville Field bring its total working interest to 95.38% in the C.P. Motty Well #7 and 72.70% in the C.P. Motty Well #8.
"Since acquiring our initial interests in the Abbeville Field in
June 2005, we have experienced a constant stream of cash flow which
matches our corporate goal of producing cash flow and enhancing our
shareholder value," stated Carl A. Chase, CFO of Unicorp. "Production
has remained fairly constant and we experienced only eight days of the
wells being shut-in as a result of Hurricane Rita. The acquisition of
the 3-D seismic will provide us the opportunity to evaluate additional
prospects for drilling opportunities and provides us the means to
locate and internally develop our own prospects in the future."
- 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)