SOURCE: Stock Market Alerts
Aggressive Stock Alert: UCPI! August 28, 2007
NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Stock Market Alerts.
MIAMI, FL--(Marketwire - August 28, 2007) - Stock Market Alerts' performance stock list
includes: Unicorp Inc. (
Having recently reported record 2nd quarter 2007 results, including revenue
up over 300%, Unicorp Inc. (
This is additional great news for UCPI, who just reported last week on the company's overall operational activity for the 2nd quarter. The press release stated that second quarter production was approximately 11,645 barrels of oil equivalent (BOE), which was an increase of 83% over the first quarter 2007 production level and an increase of 453% over second quarter 2006 production levels!
According to yesterday's press release, 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.
With five projects producing oil, investors looking to benefit from the energy sector are going to watch this one closely! Last week, the company announced an update of its operational activity occurring during the second quarter of 2007. Additional highlights included:
-- Six month production was approximately 18,015 BOE which was a 326%
increase over six month 2006 production levels.
-- Unicorp closed on the acquisition of the Welsh Field properties
located in Jefferson Davis Parish, Louisiana for a purchase price of $1.3
million. At the time of purchase, the properties were producing
approximately 45 gross (34 net) BOE per day. Unicorp immediately
instituted a remedial workover program and current gross production exceeds
70 BOE per day.
-- For the six months ended June 30, 2007, the company experienced a
gross profit from oil and gas operations of $199,248 compared to a gross
loss of $34,949 for the 2006 period and for the three months ended June 30,
2007, the company experienced a gross profit from oil and gas operations of
$209,713 compared to a gross loss of $32,789 for the 2006 period.
-- Unicorp participated in the drilling of the Seward Lejuene Well No. 1
on the North Edna prospect located in Jefferson Davis Parish, Louisiana.
Although pay was present, the zone was depleted and the well was
subsequently plugged and abandoned.
-- To obtain funding for the company's ongoing operations, Unicorp
entered into a securities purchase agreement with YA Global Investments,
L.P. (formerly, Cornell Capital Partners L.P.), an accredited investor, on
May 17, 2007, for the sale of $7,000,000 in secured convertible debentures.
As of June 30, 2007, the company had drawn $5,500,000 on the secured
convertible debentures.
UCPI closed Monday at around Twenty Three cents a share.
For Stock Market Alerts' in-depth profile of Unicorp, visit http://www.wallstreetenews.com/HotStocks/UCPI082707/default.aspx
In case you are not familiar with the company: 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.
Other Stocks of interest yesterday were:
Microsoft (
Valero Energy Corporation (
Dell Inc. (
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Market Alerts LLC, an electronic broadcaster and publisher of this release,
and hereafter referred to as "the company." The company received
compensation for services performed for Unicorp, Inc. (
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