WESTON, Fla., Dec. 15, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Unicorp, Inc. (Pink Sheets:UCPI), United States Steel Corp. (NYSE:X), Interchange Corporation (Nasdaq:INCX) and Ultra Petroleum Corp. (AMEX:UPL).
Aggressive investors and traders need to keep their eyes on Unicorp, Inc. (Pink Sheets:UCPI) this morning! Recently, the company issued a press release announcing that it has secured a drilling contract with Reliford Drilling, through its joint venture with P5 Petroleum, for the Cecilia Prospect located in Hardin County, Kentucky.
This could be more great news for investors! Drilling is expected to begin prior to the end of calendar 2004 and initial results of the test well are expected sometime in January. Pursuant to the agreement with P5 Petroleum, Unicorp is required to immediately fund an additional $480,000 upon P5 Petroleum executing this drilling contract.
Investors should continue to watch the company's progress! Carl A. Chase, Vice President and CFO of Unicorp, stated, "We are pleased to have achieved this milestone on the Kentucky Project and are excited that we will begin drilling this month."
It was earlier this month that the company issued a press release announcing that that it has signed a binding letter of intent to acquire the exclusive 10-year U.S. license for the use of this proprietary Vibroseismic Impact Technology. The new technology, which has already proven to have significantly increased production in Indonesia, has the ability to take old oil fields that were once thought to be past their prime and yield oil previously classified as unrecoverable.
For more in-depth coverage of Unicorp, visit http://216.63.242.254/UCPI1215.htm
The stock closed yesterday at around $2.90 a share.
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 acquiring working and non-working interests in crude oil and natural gas properties.
Stocks showing interesting activity yesterday at the close of the regular trading day were: United States Steel Corp. (NYSE:X) down 1.8% on 2.5 million shares traded, Interchange Corporation (Nasdaq:INCX) up 7.3% on 2.2 million shares traded and Ultra Petroleum Corp. (AMEX:UPL) up 8.4% on 2.2 million shares traded.
Commentary:
"Cold weather throughout the country sparked concerns regarding fuel oil spikes, as OPEC announced last week that they will cut production by 1 million barrels per day starting in January; their next meeting is scheduled in Vienna on January 30, 2005. At last check, heating oil was up 2.9 percent for January delivery versus last year," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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