Wall Street News Alert's "stocks to watch" this morning are: Unicorp Incorporated (OTCBB: UCPI), Altria Group Inc. (NYSE: MO), Newmont Mining Corporation (NYSE: NEM) and Dycom Industries, Inc. (NYSE: DY).
Unicorp, Inc. (OTCBB: UCPI) is at it again and investors should keep an eye on the company this morning! Yesterday, after the stock markets closed, the company issued a press release announcing that it has begun operations in preparation for the drilling of its prospect located in Greene County, Mississippi.
News of the upcoming drilling could get the attention of investors! Drilling is expected to commence within the next two weeks and the well will be drilled to a depth of approximately 6,800 feet to test the Upper Tuscaloosa formation. Unicorp will be the designated operator of the project and has approximately a 60% working interest and a 46.8% net revenue interest.
The Lee Walley Well No. 1 was drilled and plugged and abandoned in 1983. The electric log indicated an apparent oil pay at the top of the Tuscaloosa formation which was confirmed by sidewall cores which indicated a good show of oil. The Unicorp well will be located approximately 75 feet from the Lee Walley Well No. 1.
Wall Street News Alert is continuing to place Aggressive Investors on alert to monitor the progress of Unicorp! According to the company's press release, based upon cumulative production figures of similar wells in the North Sand Hill Field and the Flat Branch Field, it is estimated that the Unicorp well could have 130,000 barrels of oil reserves which equates to $9,100,000 in gross production at today's price of $70 per barrel. There is no guarantee that this well will be successful or that these numbers will be achieved due to production and/or price fluctuations. Unicorp's net revenue interest would equate to 46.8% of the gross production.
"If this initial test well is successful we anticipate there to be several other drilling locations in this area," stated Arthur Ley, COO of Unicorp. "Mississippi has not been our core focus but we believe that this represents a low risk opportunity and will continue to seek out other prospects that meet our risk profile."
Earlier this week, the company announced that it has entered into an agreement to participate in the North Laurel Ridge Prospect located in Iberville Parish, Louisiana. According to the company, total reserves are estimated to be 1,093,000 barrels of oil and 3.3 Bcf of gas. The well is scheduled to be drilled in early September and Unicorp will have a 5% working interest and an approximate 4% net revenue interest in the well.
In addition, the company has recently announced that it has started producing oil from its North Edna Prospect located in Jefferson Davis Parish, Louisiana. Unicorp has a 40% before payout and a 30% after payout working interest in this prospect and stated that "This discovery is exciting because it will more than double our current revenue and we have three additional offset wells to be drilled in this field."
Unicorp's stock closed yesterday at Seventy Nine cents a share.
For an in-depth, updated profile of Unicorp, visit: http://www.thenewssvc.com/UCPI083006.html
To view all of Wall Street News Alert's special early morning trading alerts for this morning, visit www.WallStreetNewsAlert.com, where you may also sign up to receive free email alerts in advance of our press releases being issued.
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.
Altria Group, Inc. (NYSE: MO) up 1% on 10 million shares traded.
Newmont Mining Corporation (NYSE: NEM) up 1.1% on 3.7 million shares traded. Newmont Mining Corporation is gold exploration company.
Dycom Industries, Inc. (NYSE: DY) up 9.3% on 2.6 million shares traded. Dycom is a provider of specialty contracting services throughout the United States.
"In economic news, the second quarter GDP has been revised to 2.9% from 2.5% in a report by the Commerce Department. The increase is due mostly because of better exports. GDP measures the value of all goods and services of the country," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
Let Wall Street News Alert help advertise for your company using our effective awareness campaigns. If you're interested in telling your story, we can help. Contact us at firstname.lastname@example.org
WSNA's email alert service is free to those investors who sign up on the WSNA home page. The alert service is designed to notify investors of undervalued and often overlooked stocks. Subscribers are introduced to Special Situation companies that have the potential of showing increased activity. The Wall Street News Alert home page has experienced over 50 million hits. To subscribe to this free service, visit the Wall Street News Alert home page at http://www.wallstreetnewsalert.com and select the "join now" button.
WSNA is a Platinum Sponsor of Quality Stocks. Quality Stocks tracks the stock picks of 150 Investment Newsletters every day and reports on their performance. For their free service, visit www.qualitystocks.net.
*** It has come to the attention of Wall Street News Alert (WSNA), that various persons or companies distribute faxes bearing similar names to Wall Street News Alert. Wall Street News Alert is not affiliated with faxes bearing names such as: Wall Street Stock Alert, Wall Street Investor Alert, Wall Street News Alert or any other fax using various combinations of the generic words Wall Street.***
Wall Street News Alert is a division of Wall Street Capital Funding LLC (WSCF). WSCF also maintains a contractual, working relationship with Stock Market Alerts LLC and its Wall Street Enews brand. WSCF is not a registered broker/dealer and may not sell, offer to sell or offer to buy any security. WSCF profiles are not a solicitation or recommendation to buy, sell or hold securities. An offer to buy or sell can be made only with accompanying disclosure documents from the company offering or selling securities and only in the states and provinces for which they are approved. The material in this release is intended to be strictly informational. The companies that are discussed in this release have not approved the statements made in this release nor approved the timing of this release. All statements and expressions are the sole opinion of WSCF and are subject to change without notice. Information in this release is derived from a variety of sources including that company's publicly disseminated information, third parties and WSCF research. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. WSCF disclaims any and all liability as to the completeness or accuracy of the information contained and any omissions of material fact in this release. The release may contain technical inaccuracies or typographical errors. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser, or a broker-dealer, or a member of any financial regulatory bodies. Investment in the securities of the companies discussed in this release is highly speculative and carries a high degree of risk. WSCF is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment if they make a purchase in WSCF profiled stocks.
This profile is not without bias, and is a paid release. WSCF has been compensated for dissemination of company information on behalf of one or more of the companies mentioned in this release. For present and future services, WSCF has been compensated Twenty Seven Thousand Dollars for current coverage AND was previously compensated One Hundred and Eighty One Thousand and Five Hundred Dollars for past coverage of Unicorp, Inc. (OTCBB: UCPI), by the company, for services provided including dissemination of company information in this release. In 2004 and 2005, WSCF was compensated for previous services performed for Unicorp, Inc.; for information on that compensation, contact us at email@example.com. WSCF holds no shares of the stock. WSCF may receive additional compensation for extension of its services. Any additional compensation will be disclosed at such time that WSCF is aware of a client's desire to extend the original services. WSCF may have received shares of a company profiled in this release prior to the dissemination of the information in this release. WSCF may immediately sell some or any shares in a profiled company held by WSCF and may have previously sold shares in a profiled company held by WSCF. WSCF's services for a company may cause the company's stock price to increase, in which event WSCF would make a profit when it sells its stock in a company. In addition, WSCF's selling of a company's stock may have a negative effect on the market price of the stock.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and WSCF undertakes no obligation to update such statements.