Unicorp Signs Deal for Potential 3.5-Bcf South Texas Prospect
Unicorp, Inc. has entered into an agreement that identifies and provides engineering, technical and intellectual data, including 3D seismic, on a new prospect located in South Texas with estimated gross reserves of 3.5 Bcf of gas.
This prospect will target the Yegua sands at a depth of approximately 5,500 feet.
Unicorp will immediately commence leasing operations and will retain a minimum of a 15% working interest upon the successful leasing of the target area.
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.
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