Replies to This Discussion

Permalink Reply by J Jones on August 8, 2011 at 10:15

There is no water still on the site.  The roads are dry and passable.  Building dikes would not do any good as the site was probably under 20 ft of water this year.  However, barring any unforseen problems, the river shouldn't be a problem again until possibly late winter or more probably next spring.  Lets all keep our fingers crossed that Mainland gets the funding pretty soon, or we'll be waiting out another flood season.

Permalink Reply by The_Baron on August 8, 2011 at 9:47

My image is from the O&G board,

 

The well Jay shows on his image is the  Phillips - Burkley 1 spud in august 7, 2004.  Api # 23063204740000

Permalink Reply by Carmen Simeone on August 8, 2011 at 10:26

Does anyone know exactly when the lease expires without production ?? Does our lease have provisions for extensions for force majuere ?? We need an angel with a bag full of money so we can finish the well and head to the bank !!!!

Permalink Reply by jeff boler on August 8, 2011 at 15:39

They were extended last December or so, MNLU's stock saw an increase when they announced that they were going to extend the leases, so that might help you find the PR if your interested...

Permalink Reply by jeff boler on August 8, 2011 at 16:24

The Jefferson County Board of Supervisors started grading the lease road about a month ago.

 

I too had doubts about them being able to complete before the next flood season. Frac equipment is in high demand & I don't think that anyone is setup do this sort of thing in MS, so they will probably need to bring several frac crews in from Texas or North LA. I would imagine that fracing crews are booked up 6 or more months into the future & this completion will require multiple frac-crews. We'll know they're getting close when they start hauling in dirt to increase the size of the location so that it can handle all of the pumps, frac-tanks, & traffic.

Permalink Reply by dbob on August 26, 2011 at 16:17

Ok slow news night - yall watching football?

 

http://www.prnewswire.com/news-releases/mainland-and-american-explo...

 

HOUSTON, Aug. 26, 2011 /PRNewswire/ -- Mainland Resources, Inc., (the "Company") (MNLU-OTCBB, 5MN-Frankfurt) announces that it and American Exploration Corporation ("American Exploration") have entered into an amending agreement to extend the termination date of the Merger Agreement between the companies to October 31, 2011.

The previously announced Merger Agreement between Mainland and American Exploration contemplates a stock-for-stock merger between the companies, subject to approval of the shareholders of both companies. The companies have entered into the amending agreement to extend the termination date of the Merger Agreement from August 31, 2011 to October 31, 2011, in order to allow for additional time to complete required administrative and regulatory matters related to the merger process.

 

Not sure how many extensions this is, but I'm betting BHP closes on PetroHawk before this merger goes through.  Looks like someone is stalling.  Any news on the well?

 

 

Permalink Reply by Bob Nies on August 26, 2011 at 18:13

Now if you are a believer is the time to buy.... takes balls when the shorts are in control....

Permalink Reply by CRAIG TAYLOR on August 27, 2011 at 2:44

does anyone know if mainland resources has found an equity partner to finish the Mississippi well?

Permalink Reply by dbob on August 27, 2011 at 3:23

Craig,

 

Per their previous MO, if MNLU had found an equity partner, we would have heard about it already.  I think the placement of the press release regarding extension of time (read: lack of finacing to complete merger) was intended to bury it.  

 

Re: Bob I can certainly beleive that there is gas in the ground in the MNLU prospect acerage, but MNLU is a victim of bad timing.  Three years ago the if they had made it this far, they would have almost certainly found someone to front the money or buy in.  

 

I do have an alternate scenario for MNLU, depending on if their leases have depth clauses.  Maybe MNLU sets a plug at some depth, then perfs one of the shallower potentially producing formations to HBP the location on the cheap.

 

 

Permalink Reply by CRAIG TAYLOR on August 28, 2011 at 13:24

Thanks for the info Bob, hope that an alternate scenario develops--or myself and the rest of the shareholders will get the short stick

Permalink Reply by Joe Mag on August 31, 2011 at 3:22

Mainland Announces Board Change

HOUSTON, Aug. 31, 2011 /PRNewswire via COMTEX/ -- Mainland Resources, Inc., (the
"Company") (MNLU-OTCBB, 5MN-Frankfurt) has received the resignation of Angelo
Viard as a director of the Company effective immediately.

Mr. Viard has advised the Company that for personal reasons he is no longer able
to fulfill his duties as a director of the Company in a timely manner.

About Mainland Resources, Inc.
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 Joe Mag on August 31, 2011 at 3:53

I agree on the sad part. I would have hoped for something with a little more liveliness to it after all this time. Let'e see what the rest of the month can do for them. I do not have actual but I believe they are having a hard time getting financed to complete the project. The only financial offers they had were as bad as loan sharks from what I understand. Of Course this is only here say and not on paper anywhere.I just wanted to make that clear. Also, here is the other news.



Mainland and American Exploration Agree to Extend Merger Agreement

 

HOUSTON, Aug. 26, 2011 /PRNewswire via COMTEX/ -- Mainland Resources, Inc., (the

"Company") (MNLU-OTCBB, 5MN-Frankfurt) announces that it and American Exploration

Corporation ("American Exploration") have entered into an amending agreement to

extend the termination date of the Merger Agreement between the companies to

October 31, 2011.

 

The previously announced Merger Agreement between Mainland and American

Exploration contemplates a stock-for-stock merger between the companies, subject

to approval of the shareholders of both companies. The companies have entered

into the amending agreement to extend the termination date of the Merger

Agreement from August 31, 2011 to October 31, 2011, in order to allow for

additional time to complete required administrative and regulatory matters

related to the merger process.

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