SOURCE: Wall Street News Alert

Wall Street News Alert

May 31, 2007 09:46 ET

Wall Street News Alert: Breaking News Alert -- UCPI! May 31, 2007

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

WESTON, FL--(Marketwire - May 31, 2007) - Wall Street News Alert's "stocks to watch" this morning are: Unicorp Inc. (OTCBB: UCPI), ConocoPhillips (NYSE: COP), Apache Corporation (NYSE: APA) and CanAm Uranium Corp. (OTCBB: CAUI).

Unicorp Inc. (OTCBB: UCPI) is apparently about to release great news for its investors! Wednesday after the markets closed, the company (engaged in the acquisition, development, exploration and production of crude oil and natural gas) issued a press release announcing that it expects to complete the acquisition of a producing field located in South Louisiana with current production of 40-45 barrels of oil per day and potential gross production of 200 barrels of oil per day.

This should be news to investor's ears. According to the press release, this field has a total of fifteen wells of which two are currently producing oil, two are saltwater injection wells and eleven are work-over opportunities. Unicorp will have a 100% working interest in this field.

UCPI has been in the news quite a bit lately. On May 23rd, the company announced that its East Texas prospect located in Henderson County, Texas has been successfully logged which has indicated multiple productive zones for testing. The electric log has identified up to four formations that could be productive. This prospect has the potential for seven additional wells and potential gross reserves of 1,000,000 barrels of oil and 4 Bcf of gas. Unicorp has an approximate 21% before payout working interest and approximate 16% after payout working interest in this prospect.

On May 21st, the company announced that it has entered into a stock purchase agreement with Cornell Capital Partners, LP providing a loan to the company of up to $7,000,000.

On May 16th, UCPI announced really big news! It's South Creole Prospect located in Cameron Parish, Louisiana is now online and currently producing at a rate of approximately 2.8 Mmcf per day of gross gas production and 58 barrels of condensate. This was very big news! According to the press release, at this rate, this well will double Unicorp's existing monthly revenue to over $250,000 and brings the company to profitability, excluding non-cash charges.

Last month, the company announced that it has elected to participate in the Catfish Prospect with potential gross reserves of 2,500,000 barrels of oil.

Market Advisors, Inc. issued a price target of $1.05 for Unicorp shares. The report cited the recent 280% increase in 2006 revenues and the company's exploration and acquisition strategy as a main factor for their report.

Wall Street News Alert has continuously updated investors as to UCPI's prospects, and is continuing to alert investors to monitor the progress of the company. Unlike most "prospecting companies," Unicorp actually has oil-producing wells. The Walley Estate #1 has been producing an average of approximately 85 barrels of oil per day and has produced hundreds of thousands of dollars in gross oil revenue since first production in November 2006. Unicorp has a 60% working interest and a 47.55% net revenue interest in this prospect. The company has been doing its best to tell investors about the company's bright future. Near the end of last year, the company announced that it expected to triple its gross profit in fiscal 2007! This was huge news! Keep watching this company. It could be only a matter of time before the company strikes it big!

Before the news hit the wires, Unicorp's stock closed Wednesday at Thirty Six cents a share.

For Wall Street News Alert's in-depth and updated profile of Unicorp, visit: http://www.WallStreetNewsAlert.com/HotStocks/UCPI053007/default.aspx

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.

ConocoPhillips (NYSE: COP) up 2.5% on 12.8 million shares traded. ConocoPhillips is an integrated petroleum company with interests around the world.

Apache Corporation (NYSE: APA) up 3.6% on 5.8 million shares traded. Apache Corporation is a large oil and gas independent with operations in the United States, Canada, the United Kingdom sector of the North Sea, Egypt, Australia and Argentina.

CanAm Uranium Corp. (OTCBB: CAUI) up 13.3% on 2.8 million shares traded. CanAm Uranium Corp. is a Nevada incorporated junior resource company with a corporate objective focused on the strategic acquisition and development of exploration properties in well-known prolific mining areas, especially known for Uranium, of Canada, Southern Africa, Australia and the United States. CanAm Uranium Corp has optioned over 146,925 acres of claims collectively within the Saskatchewan Athabasca Basin, Ontario and British Columbia, with significant interest in prolific Uranium mining areas.

Market Commentary:

"Early news of the 6.5% drop in the Shanghai Composite because of a large tax hike did not hurt the U.S. indexes, although many overseas Bourses did not take the news as well as the NYSE," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.

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