Unicorp Reports Spudding of St. Martinville Prospect
Unicorp, Inc. said Wednesday that operations have begun to drill its St. Martinville Prospect located in St. Martin Parish, Louisiana. The St. Martinville Prospect will be drilled to a depth of approximately 13,000 feet to test the Marg Tex-3 sands as seen in the Trinity Resources Ranzino Well No. 1. Total reserves are estimated to be 1 million barrels of oil, and Unicorp will have an 18.5% net revenue interest.
"This prospect should be drilled to total depth within the next thirty to forty-five days and logging should commence shortly thereafter," stated Arthur Ley, COO of Unicorp. "We are happy to begin 2007 with a prospect that has the potential to add significant reserves to our base if it proves successful."
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)