Unicorp Announces Successful Drilling Of The Initial Well On Its North Cayuga Prospect

Houston, TX - Unicorp, Inc. announced recently that the drilling of its initial well on its North Cayuga Prospect located in Henderson County, Texas has been successfully completed. The Easter Seals #1 was drilled to a total depth of approximately 9,000 feet and will initially test the Rodessa Bacon Lime zone. An electric log is scheduled to be run this week which will indicate which zones may be productive. This prospect has the potential for eight wells and potential gross reserves of 1,000,000 barrels of oil and 4 Bcf of gas. Unicorp has a 21% working interest and an approximate 16% working interest after payout in this prospect.

"Mud logs indicated several hydrocarbon shows during drilling operations and if successful this well will be a nice addition to our growing portfolio of productive properties," stated Kevan Casey, CEO of Unicorp. "We are hopeful to have this well completed and producing during this fiscal quarter."

SOURCE: Unicorp Inc.