Unicorp: Catfish Drilling to Begin Within Two Months

Unicorp, Inc. said that drilling operations are expected to begin on its Catfish Prospect located in East Texas within the next 60 days.

Unicorp recently received notice that operations were to commence shortly and subsequently paid its portion of the prospect and well costs. This prospect consists of over 8,000 gross acres with depths to 10,600 feet. Full development of this prospect could result in 20 to 40 wells. Unicorp will have an approximate 33% working interest before payout (25% after payout) in the initial two wells and an approximate 25% working interest in all subsequent wells in this prospect.

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.