Unicorp Begins Work at Catfish Creek Prospect
Unicorp reports the rig is on location and operations have begun on its Catfish Creek prospect located in East Texas. The initial well, a re-entry into a previously drilled and cased well, will target completion attempts in the Rodessa Bacon, Rodessa Gloyd and the Pettit formations. This prospect consists of over 8,000 gross acres with depth rights to 10,600 feet. Full development of this prospect could result in 20 to 40 wells. Unicorp has 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 on 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.
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