MIAMI, Jan. 12, 2005 (PRIMEZONE) -- Stock Market Alert's watch list includes: Unicorp, Inc. (Pink Sheets:UCPI), Intel Corp. (Nasdaq:INTC), Sun Microsystems (Nasdaq:SUNW) and The News Corporation Inc. (NYSE:NWSA).
Unicorp, Inc. (Pink Sheets:UCPI) issued a press release yesterday that may interest investors. The company announced an update on the progress of the vibroseismic impact technology (VSIT) test on the South Texas oilfield. The company's stock closed at $2.60.
The press release stated that on Jan. 5, the company announced it was likely it would not enter into a definitive agreement to acquire the ten-year exclusive license for the VSIT technology.
This statement was based upon preliminary information the company had received concerning the results of the testing on the northern section of the South Texas oilfield. New information indicates the northern section of the oilfield is probably depleted of oil from previous production. Positive results have been witnessed from the testing of the middle and southern sections with final results to be received sometime in February 2005. This technology has been proven in Russia and Indonesia, and Unicorp will be seeking other fields that can be secured to maximize the potential of this technology.
Kevan Casey, CEO of Unicorp, stated, "We were initially disappointed in the results but due to the fact that the northern section of the field may be depleted, no technology would have worked. We look forward to the test results from the middle and southern sections of the field and will continue to keep our shareholders updated."
Unicorp, Inc. is primarily engaged in the acquisition, development, exploration and production of crude oil and natural gas. Its focus is on acquiring working interests in crude oil and natural gas properties. For further information: www.unicorpinc.net.
Other stocks of interest yesterday: Intel Corporation (Nasdaq:INTC) down 1.4% on 116.5 million shares traded, Sun Microsystems, Inc. (Nasdaq:SUNW) down 1.7% on 51.9 million shares traded and The News Corporation Inc. (NYSE:NWSA) down 1.1% on 24.7 million shares traded.
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