WESTON, Fla., Dec. 21, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Unicorp, Inc. (Pink Sheets:UCPI), Pfizer Inc. (NYSE:PFE), Pharmos Corporation (Nasdaq:PARS) and Sun Microsystems, Inc. (Nasdaq:SUNW).
Aggressive investors and traders need to keep their eyes on Unicorp, Inc. (Pink Sheets:UCPI) this morning! Yesterday after the markets closed, the company issued a press release announcing that, in conjunction with its joint venture partner P5 Petroleum, Inc., it has identified the locations to drill the initial four wells on its Cecilia Prospect located in Hardin County, Kentucky.
This could be more great news for investors! Unicorp and P5 Petroleum jointly have 7,000 acres under lease in the prospect and recently announced discussions to begin acquiring an additional 16,000 acres in the area. Based upon results from the initial four wells, Unicorp and P5 Petroleum could drill in excess of 175 wells on the current acreage under lease.
Investors should continue to watch the company's progress! Carl A. Chase, Vice President and CFO of Unicorp, stated, "Mike Harris, Chief Geologist with P5 Petroleum, has extensive experience within the New Albany Shale formation of Kentucky and has identified the locations for us to initially drill. We are extremely excited about our initial well to be drilled, which will begin drilling prior to the end of this year."
The locations have been surveyed and drilling permit applications have been filed with the State of Kentucky.
For more in-depth coverage of Unicorp, visit http://216.63.242.254/UCPI1220.htm
The stock closed yesterday at around $2.65 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: Pfizer Inc. (NYSE:PFE) down 5.6% on 133 million shares traded, Pharmos Corporation (Nasdaq:PARS) down 66.2% on 80.7 million shares traded and Sun Microsystems, Inc. (Nasdaq:SUNW) down 0.9% on 29.2 million shares traded.
Commentary:
"Historically, December is usually the best month for stocks; stock and bond markets will be closed Friday on Christmas Eve. A pre-Christmas update will be seen by economists as final GDP numbers for the third quarter come out on Wednesday; personal income and durable-goods numbers will be released on Thursday," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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