Mainland Resources, Inc. Enters Agreement for Acreage to Test Expanded Haynesville Shale Area in Mississippi

June 23, 2009 9:15 AM EDT


HOUSTON, June 23 /PRNewswire-FirstCall/ -- Mainland Resources, Inc., (OTC Bulletin Board: MNLU 5MN-Frankfurt) a Nevada Corporation (the "Company") has signed a Letter Agreement to acquire up to 8000 net acres in Mississippi. Mainland will own a 100% Working Interest in the acreage and will be the Operator.


The project has been identified using reprocessed seismic, as well as log information, from a well drilled in the early 1980s by a major oil company. That proprietary data shows prospective Bossier/Haynesville Shale and Hosston formations. The Bossier/Haynesville Shale was not considered a viable or economic production resource in the early 80s and therefore, was not validated during drilling to a deeper prospective target. The well was drilled as a controlled blowout through the Bossier/Haynesville Shale to Total Depth.


According to available well logs from drilling, the identified Bossier/Haynesville Shale is demonstrated to be over 2500 feet thick with extremely large pressures up to or exceeding 20,000 psi. The well was still in the Bossier/Haynesville Shale when drilling operations were discontinued due to high pressures, etc. The Bossier/Haynesville Shale is possibly much thicker than 2500 feet, which is several times thicker than the Bossier/Haynesville Shale encountered in NW Louisiana. The density neutron log from the previous drilling also shows good average porosity from 12% to 15%.


Mainland President Mike Newport states, "We like what we see in this prospect and it could be an excellent addition to our Bossier/Haynesville Shale, and Hosston/Cotton Valley assets in NW Louisiana. If the data bares out, this project could be a truly world-class play where our Company is well-positioned in additional significant Bossier/Haynesville shale."


About Mainland Resources, Inc.

Mainland Resources is a junior company engaged in the exploration and development of oil and gas resources. The Company's current initiatives are focused on the acquisition and development of leases in emerging gas regions with the potential for discoveries including the Haynesville shale.


See: www.mainlandresources.com for more information.


Symbol: MNLU - OTCBB, Symbol: 5MN; Frankfurt, WKN No.: A0ND6N


SAFE HARBOR STATEMENT -THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.


EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH PROPERTY DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.


THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.




SOURCE Mainland Resources, Inc.

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I wouldn't doubt that it runs from East Texas to Mississippi....but then again...who really knows? :o) Thanks for the post!

Jaybird
Sounds like a truckload of crap to me.

2500' of shale???

20,000 psi????

What ever.....
Shale doesn't stop between 150' to 300'. I guess we'll just have to wait until the bit hits the ground!

I wish Mainland the best of luck!

Jaybird
The Haynesville formation runs in an arc from the Gulf Coast of Mississippi north and then west across North LA. then west and south into Central Texas, approximately to Hearne. In North LA. the areas that are shale and the areas that are sand are generally known. You're right, Baron. The thickness and pressure don't sound right. Whatever the physical characteristics, I wish it was a company other than Mainland announcing it. This may be a marine shale. Possibly the same one that extends into southeast LA. Though it has potential, it has turned out to be a nightmare to produce. I'll believe this report when a more reputable company confirms it.
Like I said...until Mainlands bits hits the ground...we will not know. I still wish them, and any oil and gas company willing to take the risk as much luck as they need!

Jaybird
Jaybird. My comment is not in response to your post. Please keep the following in mind: Industry members tend to be skeptical of such reports. Been there seen that. I would very much like for there to be productive shale under every acre of North America. If this was a more reputable company making the report, my level of skepticism would be less and my interest greater. And The Baron is correct to question the thickness and pressure. If Encana/Shell can not successfully develop the shale in the far south area of the HA play where the pressures are > 7,000 psi, how would you rate Mainland's chances at 20,000 psi? The bit has already been through the Haynesville in numerous locations across the entire arc so it's not likely there is a large expanse of lost HA Shale out there. I understand your wishful thinking. I wish you would afford me and other members who are a part of the industry the same consideration. Not everything that you do not understand is an industry conspiracy. We can revisit the discussion when the drill bit results are in.
Skip...I meant no disrespect to you at all. I was merely stating a simple good luck to Mainland and anyone else that drill for oil and gas.

I wish "you" would afford Mainland Resources and the other Gas and Oil companies the same consideration before you bad mouth them on here.

But, as everyone on this site...you have a right to your opinion.

Believe me or not, I wish you the best of luck as well. No conspiracy there I promise you.

What are you talking about conspiracy for? You obvoiusly have me mistaken for someone else.

Jaybird

Jaybird
Good Luck, Mainland.
That's better! :o)
Geeezus christ
Parker, this may be near EnCana's Deep Bossier Sand prospects in Mississippi. These prospects could be analagous to the highly productive Amoruso Field in Texas that produces from ~ 19,000' depth.

Sorry BirdDawg - please accept my apology in advance.
Attachments:
Les. Sand? Not Shale? The misunderstanding among the members is on-going and significant. One (sand) is a "conventional reservoir" play and the other (shale) an "unconventional play". When we have been at this another year or two, I hope the majority of the members understand the difference.

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