On Track Technology Solutions Finalizes 1.3 Million Dollar Acquisition
EAST HANOVER, N.J., Sept. 24, 2012 /PRNewswire/ -- Unity Management Group (OTC Pink: UYMG), a business resource and service company, is pleased to announce its wholly owned subsidiary, On Track Technology Solutions Inc. (OTT), Has contracted to acquire two leases. The Tullos Heirs # 009665 and the Tulles Heirs Stenco # 9670 with a combined 15 wells on 86 acres with a PV-20 and significant potential reserves.
"Once the seller has completed all contractual obligations the leases should generate approximately a net of $40,000.00 per month in revenue. We believe the current wells will produce for approximately the next 30 years," said Eddie Schilb president of OTT. Additionally, we are able to drill at least 50 new wells without over producing the lease with multiple formations. For instance, we are able to drill the Wilcox formation at 1500-1700 feet, and then it is standard to move over 30 feet and drill the Sparta formation at 900+ feet. The cost of a new turnkey Sparta well as of last week was quoted $75,000. We can expect that well to have Initial Production rates at 6-12 barrels per day from the Sparta formation. The cost of a turnkey Wilcox was quoted last week at $85,000. We can expect Initial Production rates from this zone at 18-22 barrels per day from the Wilcox formation. The wells will decline however they could and are expected to produce for the next 30-50 years. Another great thing is the bonus per barrel we receive each month. August we received a $15 per barrel bonus. The lowest has been $11 bonus per barrel. We receive exceptionally high bonuses.
Josh Mcalpine, Certified Petroleum Land man and Chief Operations Officer, quoted, all together, "I feel this lease is an amazing opportunity with all the added benefits."
About Unity Management Group, Inc.
Unity Management Group, Inc. maintains a network of contacts in the financial community. Our experience facilitates the development of relationships that may lead to financing, joint ventures and other opportunities that are so essential in this age of business and technological relationships.
Unity Management Group, a business resource company, will continue to provide innovative management services that offer high value and significant return on investment through its three subsidiary companies: Unity Capital Acquisitions, Unity Technologies Inc., and United Business Services Inc.
Unity Technologies Inc. is a complete software solutions company offering billing, electronic medical records, and electronic health records for physicians' offices and hospitals. Unity Capital Acquisitions will focus on building and accelerating growth oriented companies, with the intent of spinning them out to our shareholders as separate public companies.
About On Track Technology Solutions:
On Trac Technologies Solutions Inc. is a service, heavy Equipment and production company. They develop solutions through their R&D department and through the services department. They work with other service companies and are available to preform services and provide equipment to their company fields after acquisition, to third party companies for hire and for state and regulatory agencies projects. On Trac combines existing technologies for production equipment, EOR equipment, treatments (chemicals, CO2, Nitrogen and mixtures) and processes to provide unique solutions and enhancements for service, hydrocarbon production, and building of structures/infrastructures. On Trac Technologies Solutions Inc. may identify service and acquire energy properties with previously discovered known oil and gas reserves that have not either been fully produced, or fully developed and defined. They will accomplish this through joint venture, farm outs, acquisition, third party service fee, or other means. Such as utilizing new and existing proprietary technologies. Additionally they will be providing equipment, preform heavy equipment construction work in multiple industries, providing multiple services; depending on the need of a project. On Trac believes the oil gas industry and EOR segment is a rapid booming field; On Trac expects to generate profit in this field as well in other fields of operation.
On Track Technology Inc. uses multiple patent technologies for Enhanced Oil Recovery (EOR) gas treatment. We will use this patented technology with other proven EOR technology currently used in the industry. Throughout the United States there are primary depleted oil reservoirs representing billions of barrels of oil that lend themselves to the use and exploitation of Enhanced Oil Recovery and On Track Technology Inc.'s proven patented technology. Without EOR technology, these reservoirs will produce only about 20% of their Original Oil in Place. Gas injection EOR is a proven method that has been in use over the last 50 years in the oil fields of West Texas, Kansas, Oklahoma, Michigan, Wyoming and Oklahoma.
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Unity Management Group, Inc.
SOURCE Unity Management Group, Inc.