Replies to This Discussion

Permalink Reply by Paul M. Hess on March 30, 2011 at 2:16

Thanks, Bob! well put!

Permalink Reply by 1sk58mq3tyx9y on March 30, 2011 at 4:29

 I am with you on this Bob. I own Mainland stocks and I am keeping them. They are a small company but if they bring that well in there and it's a really good producer then that will probably open up the whole field there. At that time I think they become a buy out candidate by one of the bigger companys. That would bode well for us stock holder............BA

Permalink Reply by Skip Peel - Mineral Consultant on March 30, 2011 at 5:26

It's not a question of the interpretation of the Core Data and SLB data or even it's level of accuracy.  Nothing in the analysis guarantees the recoverable reserves or the potential for formation or well problems.  Until the well is completed and results officially announced all this amounts to is informed speculation.  Any one who cares to invest in MNLU should read the mandatory SEC disclaimer contained in all their official news releases and filings.  I have no problem with those who choose to invest in speculative oil and gas ventures.  However, IMO this one is way over-hyped.  I hope they make a well.  I just don't see it as highly probable to the extent the pro-MNLU members do.

Permalink Reply by Bob Nies on March 30, 2011 at 5:49

Skip is right on this... the hype has been high and naturally we all want to believe....however, until a actual drill stem test and CAOF is determined we will not know the producibility of this prospect and any present or future value of cash flow. (This will eventually determine the stock valuation going forward).

 

Look at all the other promotable junior oil stocks with similar prospects and the language is almost identical..... one must realize the shear number of these stocks trying to gain attention/recognition is enormous.... looks like August for anything definite.... so be patient and we will then find out the facts.

Permalink Reply by Bruce Badeau on March 30, 2011 at 6:40

Hello All:

 

What worries me is the available fracing pressure - 20,000 psi, maybe a bit more from Halliburton machines plus the 8800 psi head pressure ( the weight at the bottom of the hole if filled with water ) may be enough to overcome the friction of a very deep hole and possibly radiate out 300 feet in all directions... Now, have we a 600 foot diameter 2,000 foot deep frac zone ? How many natural fractures intersect these adjacent cylinders, assuming multiple wells (at $13 million or more per well) ... How many wells can or should be drilled on each section to recover the reserves and how much will be produced from these "frac cylinders"... We simply don't know until more completion worke is done on the well...

 

I need to go visit the fracing engineer when I have a some extra time... Maybe I can get a better idea of what we are up against...

 

Regards,

 

Bruce Badeau  ( I sold my entire position at prices above $0.73 ) I hold none, but am watching carefully for a re-entry...

Permalink Reply by Two Dogs, Pirate on March 30, 2011 at 12:59

Bruce are you saying that there will need to be an atomic fracking machine placed upon this well to overcome the downhole pressure?

Permalink Reply by Bruce Badeau on March 30, 2011 at 14:10

Maybe not atomic - but there is a lot of pressure to overcome... It is possible to frac... Halliburton has the equipment... just how far and what natural fractures are intersected is critical... Remember, in horizontal Haynesville, there are sweet spots and the horizontal part of the well is followed by the drilling crew (or tries to follow) these zones ( the brittle part of the shale for easier cracking), drilling several thousand feet out... Horizontal Fracking is usually at lower psi ( wells 8,000 ft to 12,000 feet) and over a long reach ( 2,000 feet to 6,000 feet or farther) - still with maybe 300 feet radial penetration...

 

I want to caution everyone that there are very experienced people in the know and on the inside ... I'm looking from outside and trying to piece together what we see... and have learned... Still, there is a lot of risk for a lot of reward... 

 

One thing is for certain ... the market hates to wait... and hence a declining stock price... A completion test that does 25 million cubic feet of gas or better with shallow drawdown pressures will rocket this stock... Will we get this amount?  Possibly... I hope I'm in with a big position before that happens...

Permalink Reply by Kitt Burkley on March 30, 2011 at 15:27

Bruce, thank you for your input.  It is interesting to follow this.  I received your email and have been VERY busy working fortunately and unfortunately.  Will read it again several times to see what my brain may absorb.  It is fascinating and great info that provides me hope and a positive attitude.  I appreciate it.  Kitt

Permalink Reply by david king on March 30, 2011 at 17:25

like mr. badeau, i've sold  most of mine, between .80 and .92 and am looking to get back in-  however, this time i want to see that the money  to complete this deal is on the table- most of the junior exploration deals that i follow, have a budget  for x months based on cash in the bank- i dont see that here and its bothering  me and i think a lot of others as well- newport has pulled a rabbit out of the hat before and i don't discount his ability to do it again, but i think they are doing their shareholders a disservice by not  disclosing the financial  aspects- david king

Permalink Reply by Joe Mag on April 7, 2011 at 1:08

Not much of an update but something is better than nothing.

 

Mainland Updates Completion Program Costs for the Burkley-Phillips #1 Well,

Mississippi

HOUSTON, April 7, 2011 /PRNewswire via COMTEX/ -- Mainland Resources, Inc. (the

"Company" or "Mainland") (otcqb:MNLU)(frankfurt:5MN) has finalized the

Authorization For Expenditure cost estimate (the "AFE") for the completion

program for the Burkley-Phillips #1 well drilled in Jefferson County,

Mississippi. The forecasted costs for the completion program are approximately $8

million to be shared on a 90/10 percent basis between Mainland and joint venture

partner, Guggenheim Energy Opportunities LLC. The completion will allow the

Company to flow test the well and further determine its resource potential.

The Company is in the process of obtaining and evaluating bids from several

industry leading companies to execute the frac stimulation and will select a

provider from bids received. Additionally, Mainland is selecting other service

providers for the completion program along with ordering longer lead equipment as

previously announced.

Mainland expects to commence completion operations during the third quarter of

2011 and anticipates a timeline of approximately three to five weeks.

Mainland and its working interest partners control in excess of 17,800 net acres

or 28 sections on the Buena Vista prospect area where the Burkley-Phillips #1

well was drilled to 22,000 feet, cored and logged. Upon successful completion of

its proposed merger with American Exploration, Mainland would own 92% of the 28

sections in the Buena Vista prospect. As recently announced, core analysis has

determined that gas in place in the Buena Vista prospect could be up to 500

BCF/section based on the cored interval.

Permalink Reply by The_Baron on April 7, 2011 at 4:33

8 million to just complete the well... Sheesh

Permalink Reply by The_Baron on April 8, 2011 at 8:06

Just doesn't add up to me... add in drilling & leasing, the fact that one gazillion $ vertical will not drain a section, and I just can't see who in their right mind would believe this will ever pay out.

 

I don't doubt that there could be a huge resevoir of gas, but who cares what is there if you can't make it pay out?

• ‹ Previous
• 1
• …
• 49
• 50
• 51
• 52
• 53
• …
• 64
• Next ›
• Page