Unity Management Group Announces Completion Of Additional Infrastructure On Oil Leases
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.
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.
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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.