Unicorp Inc. Sees Significant Oil Production from New Well

Strategic Insights -

Unicorp Inc.'s new well, Lee Walley Estate Well #1, located in Greene County, Mississippi, has begun producing oil. This comes after the company announced a 200% increase in production for the month of August 2006 compared to July. The well is expected to produce approximately 100 barrels of oil per day.

According to Unicorp's COO, Arthur Ley, the prospect has met expectations, and the company will begin identifying a second well location in Mississippi. Unicorp's stock closed at Fifty-Two cents a share yesterday. The company's focus is on aggressively acquiring working interests in crude oil and natural gas properties, with the goal of achieving a high return on investment.

Key Takeaways:

  • Unicorp Inc. has started producing oil from its Lee Walley Estate Well #1 in Greene County, Mississippi.
  • The well is expected to produce approximately 100 barrels of oil per day.
  • Unicorp's COO, Arthur Ley, stated that the prospect has met expectations and the company will begin identifying a second well location in Mississippi.
  • The company has seen a significant increase in production, with August 2006 production up 200% compared to July.
  • Unicorp's focus is on aggressively acquiring working interests in crude oil and natural gas properties.
  • The company's goal is to achieve a high return on investment.

Statistics:

  • 100 barrels of oil per day expected production from the Lee Walley Estate Well #1.
  • 200% increase in production for the month of August 2006 compared to July.
  • Fifty-Two cents a share, Unicorp's stock price as of yesterday's close.
  • 60% working interest and an approximate 46.8% net revenue interest held by Unicorp in the Lee Walley Estate Well #1.