Unicorp, Inc. Sees 360% Revenue Increase in Nine Months Ended September 30, 2006

Strategic Insights -

Unicorp, Inc., a company focused on the acquisition, development, exploration, and production of crude oil and natural gas, has reported a significant revenue increase of 360% for the nine months ended September 30, 2006, compared to the same period in 2005. This surge in revenue is attributed to the company's strategic approach to oil and gas exploration and development, including the use of modern development techniques such as horizontal drilling, satellite technology, and 3-D seismic. Unicorp's CEO, Kevan Casey, expressed optimism about the company's outlook, stating, "We are pleased that our revenue has grown significantly, and we continue to have great expectations as we complete this year and move into 2007."

Key Takeaways:

  • Unicorp, Inc. reported a 360% revenue increase for the nine months ended September 30, 2006, compared to the same period in 2005, with revenue for the nine months reaching $564,495.
  • The company's revenue for the 2006 third quarter was $287,766, representing a 96% increase over the second quarter of 2006 and a 169% increase over the same period in 2005.
  • Unicorp had previously announced that it expected total revenue for 2006 to be up more than 300% compared to 2005 and to be profitable, excluding non-cash charges, from operations by the end of fiscal 2006.
  • The company has started producing oil from its Lee Walley Estate Well #1 located in Greene County, Mississippi, with expected production of approximately 100 barrels of oil per day.
  • Unicorp is the designated operator of the project and has a 60% working interest and an approximate 46.8% net revenue interest.
  • The company is focused on aggressively acquiring working interests in crude oil and natural gas properties and is committed to achieving a high return on investment by limiting up-front acquisition costs and practicing a sound and smart approach to oil and gas exploration and development.
  • Unicorp's stock closed yesterday at $0.47 a share.

Statistics:

  • 360% revenue increase for Unicorp, Inc. for the nine months ended September 30, 2006, compared to the same period in 2005.
  • Revenue for the nine months ended September 30, 2006: $564,495.
  • Revenue for the 2006 third quarter: $287,766.
  • Increase in revenue for the 2006 third quarter over the second quarter of 2006: 96%.
  • Increase in revenue for the 2006 third quarter over the same period in 2005: 169%.
  • Expected production from the Lee Walley Estate Well #1: approximately 100 barrels of oil per day.

Sources:

  • Market Wire via COMTEX
  • Unicorp, Inc. press release
  • Wall Street Enews
  • Stock Market Alerts LLC