Unity Management Group announces completion of additional infrastructure on oil leases
Thursday, Dec 20, 2012
EAST HANOVER, N.J., Dec. 19, 2012 /PRNewswire/ -- Unity Management Group (OTC Pink: UYMG), a business resource and service company, is pleased to announce its wholly owned subsidiary, On Track Technologies, Inc. ("OTT") has resumed work on the two continuous leases in Navarro, Texas following the November holidays, moving them closer to oil production.
OTT has finished grading roads and cleared approximately 80% of the trees on the electric easements on the Knotts lease so that the highline wires may be properly installed to the wells. In addition, new high-line posts on the Martin lease have been installed and are ready to have highline wires and transformers set. OTT will soon focus efforts on finishing the flow line and then hook flow lines to the production facilities after separators are refurbished. Management estimates that, weather permitting, both leases should become operational by end of the 2nd quarter, 2013. The two leases have combined approximately 28 wellbores.
Michael Oliver, Chief Executive Officer of Unity Management Group, Inc., commented, "With the November holiday season behind us and the diversion of skilled manpower required to aid in the hurricane relief finally lessening, we have been able again to focus on bringing the Knotts and Martin leases back online and generating revenues on an expedited basis. We are also working to finalize the purchase agreement and secure the necessary funding to close on the Louisiana production acquisition. Once finalized, this addition will increase our potential production capacity (Subject to successful co2 treatment) we expect to achieve 80 barrels of oil per day."
About Unity Management Group, Inc.
Through its three subsidiary companies, Unity Capital Acquisitions, Unity Technologies Inc., and United Business Services Inc., Unity Management Group, Inc. maintains a network of contacts in the financial community to develop financing, joint ventures and other investment opportunities. Unity Management Group, a business resource company, will continue to provide innovative management services that offer high value and significant return on investment.
SOURCE Unity Management Group, Inc.
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