Unico Inc. of Stamford, CT, bought Silver Valley Energy Inc.,including its proven oil and gas reserves located in the GlassMountains of Pecos County, TX, for an undisclosed amount. Theproperty is valued at more than $40 million based upon a recentindependent analysis.

“Based upon Unico’s issued and outstanding shares, of about 7.2million shares, the acquisition represents a book value of about$5.50/share, not taking into account the recent increased value ofoil and gas since the date of the valuation,” said Unico ChairmanJay R. Weppler.

“Our acquisition of Silver Valley is a strategic positioningthat will enhance Unico’s value over the long term and willposition Unico as a serious acquirer of oil and gas properties inTexas as well as nationwide and overseas.”

Unico, Inc. is a diversified holding corporation focusing onInternet/high-technology and natural resources. The companyrecently announced a number of major changes, including a reversesplit of its shares, and adoption of an aggressive acquisitionpolicy to position itself as a diversified holding corporation withemphasis on technology and natural resources. Unico is distributing10 cents/share to shareholders from the sale of subsidiary UnitedMarketing Solutions Inc. to Next Generation Media Corp.

“Our diversification will benefit our shareholders both in theshort- and long-term as we focus on two of the most importantglobal industries, Internet/high-technology and natural resources,Weppler said. “Our goal is to acquire Internet and high technologycompanies that have the capability of being leaders within theirfield of operations by adding to their capitalization, developmentand consolidation strategies in conjunction with existingmanagement.”

The ultimate goal is to establish the technology companies asseparate publicly listed entities. To balance the portfolio, Unicois acquiring asset-rich, undervalued, natural resources companies,including oil, gas and water properties. These assets, bothproducing, and non-producing will add both book value andultimately cash flow to the company.

©Copyright 1999 Intelligence Press Inc. All rights reserved. Thepreceding news report may not be republished or redistributed, inwhole or in part, in any form, without prior written consent ofIntelligence Press, Inc.