Unicorp: Clemens Dome Drilling to Begin by Late July
Unicorp, Inc. said that drilling is expected to begin during the next four to six weeks on its Clemens Dome prospect located in Brazoria County, Texas. The initial well will be drilled to a depth of approximately 11,500 feet to test the Frio formation. The Company has increased its after casing point working interest to 25% from 15%. The company's before casing point interest has increased to 29.412%.
If the shallow zones are productive then the deeper objective will be drilled at a later date to test the Lower Nod, Tex Miss and Vicksburg formations at an approximate total depth of 14,500 feet. Total gross reserve potential for the prospect is up to 30 to 40 Bcf based upon which zones may be productive.
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.
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