SOURCE: Wall Street News Alert

August 18, 2005 08:43 ET

Hot Stock Alert Issued on UCPI!

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL -- (MARKET WIRE) -- August 18, 2005 -- Wall Street News Alert's "stocks to watch" this morning are: Unicorp, Inc. (OTC: UCPI), Chevron Corp. (NYSE: CVX), Schering-Plough Corporation (NYSE: SGP) and Devon Energy Corp. (NYSE: DVN).

Unicorp, Inc. (OTC: UCPI) should be appearing on the radar screen of aggressive investors and day traders again this morning! Yesterday after the stock markets closed, the company issued a press release announcing that it had signed an agreement to participate in a 14,500-foot test well with Jordan Oil Company, Inc., located in Brazoria County, Texas.

News of the participation could be welcomed by investors, as Unicorp has agreed to take a 15% working interest in the prospect to drill a 14,500-foot well to test the Lower Nod, Tex Miss and Vicksburg formations! Total reserve potential from the three formations is approximately 80 BCF of natural gas. Jordan will be the operator of the project.

Continue to watch this company! "We continue to seek high-quality projects with significant reserve potential," stated Kevan Casey, CEO of Unicorp. "If successful, this project will add significantly to our reserves and matches our goals of producing cash flow and enhancing shareholder value. It is projected that this project will begin during our fourth fiscal quarter."

Investors should continue to monitor the progress of Unicorp for further developments! Unicorp previously announced it had obtained a farmout to drill and test the New Albany shale in Ohio County, Kentucky, which it has filed for a drilling permit and anticipates spudding the initial well in September and is participating in a 9,000 foot well in Jefferson Davis Parish, Louisiana, with reserve potential of 400,000 barrels of oil.

Late last week, the company issued a press release announcing that it has secured a financial commitment from Cornell Capital Partners LP, that once approved, subject to certain terms and conditions that must be satisfied, will be use to continue to expand its drilling prospects.

For updated in-depth coverage and a company profile of Unicorp, visit

Prior to yesterday's press release, the stock closed at $1.26 a share.

In case you are not familiar with the companies: 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 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.

Stocks showing interesting activity yesterday at the close of the regular trading day were: Chevron Corporation (NYSE: CVX) down 1.4% on 10.3 million shares traded, Schering-Plough Corporation (NYSE: SGP) down 1.4% on 8.6 million shares traded and Devon Energy Corporation (NYSE: DVN) down 2.4% on 3.8 million shares traded.


"The PPI, Producer Price Index, was up 1% in July, according to the Labor Department. The price of gasoline was up 10.4% and the price of energy at the wholesale level was up 4.4%. Oil analysts, noting that the national average of gas is now $2.55, and coastally in the West and East $2.90-$3.50, see a trend toward gasoline nearing $3.00 until the spike of the Labor Day weekend," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at:

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