Replies to This Discussion

Permalink Reply by Bob Nies on April 9, 2011 at 3:49

Potential reserves per section is 500 BCF, say only a 20% recovery of gas in place.

 

100 BCF X $4 = $400 million dollars

 

$20 million to drill and complete = 20 to 1 return without any price increase over life of well.... that makes real economic sense to me.

Permalink Reply by Les Bamburg on April 9, 2011 at 5:03

Bob, just a minor correction to terminology.  500 Bcf is the gas-in-place while the 100 Bcf in your example would be the potential reserves.  A single well would not recover the entire 100 Bcf so the primary question would be what is a vertical well's drainage area.  Assuming 40 acres and a 30% recovery would result in potential reserves per well of 9.4 Bcf.  That amount would generate a low ROR but the capital cost for future wells would likely be substantially lower than this initial well. 

Permalink Reply by Les Bamburg on April 9, 2011 at 5:06

Baron, depending on formation thickness a vertical well could recover substantial gas.  That is the reason the original Barnett Shale core and Pinedale Field were developed with vertical wells.

Permalink Reply by The_Baron on April 11, 2011 at 7:42

I am not saying that substantial gas could be recovered, but the $$$ they are spending to drill and complete this is substantial. Payout looks like a distant mirage in this well...

Permalink Reply by Les Bamburg on April 11, 2011 at 8:52

Baron, it was unclear if your comment applied to only this well or all future wells.  The initial well may not payout but the investment is necessary to properly evaluate the resource and design a future development program.

Permalink Reply by Joe Mag on April 13, 2011 at 1:08

Posting Update

Burkley-Phillips #1 Well, Mississippi     HOUSTON, April 13, 2011 /PRNewswire/ -- Mainland Resources, Inc., (the
"Company") (MNLU-OTCBB, 5MN-Frankfurt) reports that further review and analysis
of the Core results and Log data for the Burkley-Phillips #1 well indicates
that the well hosts multiple potential pay zones including the Bossier Shale,
Knowles Lime, Cotton Valley and Haynesville shale intercepts, and in addition
has the potential for oil within the Tuscaloosa sandstones.
 
  Mike Newport, President of Mainland Resources states, "This new data is
vitally important to Mainland as we design the production plan at Buena Vista.
For instance, this new data revealing what we know as the Deep Bossier Shale is
very important as it demonstrates the Burkley-Phillips has a strong potential
to be an economically viable project for us."
 
  "Deep Bossier Shales generally have high production rates, so that we can
expect greater longevity in the wells that have strong potential for production
from other zones, such as the Knowles and Cotton Valley," Newport adds.
 
  The analysis of the data has indicated that the primary pay zone is a Deep
Bossier Shale, which is within a greater than 2000 foot Bossier Formation
interval that was encountered at approximately 19,960 feet. Special Core
analysis performed on core cut within the Bossier in the well, suggests that
the rock properties of the shales are similar to high productivity Bossier
wells in Northwest Louisiana and East Texas. These observations, combined with
natural fracturing and very high pressures in excess of 20,000 psi, suggest
that the well could have very strong production rates in the Bossier Zone.
 
  The Bossier Section consists of interbedded sandstones, siltstones and shales
within a naturally fractured, high-pressure environment. Petrophysical analysis
suggests that some of the sandstones have very good conventional porosity.
Typical, in these types of formations, production rates are high.
 
  Good porosity is also observed within approximately 70 feet of the overlying
Knowles Lime in the Burkley-Phillips #1 well. Petrophysical analyses, as well
as exceptional mud gas shows observed while drilling this unit, indicate the
potential for excellent gas production within this interval.
 
  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 Cotton on April 5, 2011 at 5:28

In 1982 American Petrafina drilled a well to 19200 feet on our place in Madison Parish La . aout 40 miles North Northwest of Burkley well. Casing was set to 16500 feet , well was never brought in.

 I have all the logs , field logs, show reports ect. ect. from Fina. I was wandering if anyone with expertise in reading logs woud be interested in looking at the logs and giving me their opinion of what was or was not found .

Thanks, Chad morgan

Permalink Reply by Paul M. Hess on April 5, 2011 at 6:02

Check your friend requests, Chad. Then shoot me a message. I'll get back to you about it!

 

Paul

Permalink Reply by Les Bamburg on April 13, 2011 at 2:59

I resposted Joe Mag's information.

 

Posting Update
Burkley-Phillips #1 Well, Mississippi HOUSTON, April 13, 2011 /PRNewswire/ -- Mainland Resources, Inc., (the
"Company") (MNLU-OTCBB, 5MN-Frankfurt) reports that further review and analysis
of the Core results and Log data for the Burkley-Phillips #1 well indicates
that the well hosts multiple potential pay zones including the Bossier Shale,
Knowles Lime, Cotton Valley and Haynesville shale intercepts, and in addition
has the potential for oil within the Tuscaloosa sandstones.

Mike Newport, President of Mainland Resources states, "This new data is
vitally important to Mainland as we design the production plan at Buena Vista.
For instance, this new data revealing what we know as the Deep Bossier Shale is
very important as it demonstrates the Burkley-Phillips has a strong potential
to be an economically viable project for us."

"Deep Bossier Shales generally have high production rates, so that we can
expect greater longevity in the wells that have strong potential for production
from other zones, such as the Knowles and Cotton Valley," Newport adds.

The analysis of the data has indicated that the primary pay zone is a Deep
Bossier Shale, which is within a greater than 2000 foot Bossier Formation
interval that was encountered at approximately 19,960 feet. Special Core
analysis performed on core cut within the Bossier in the well, suggests that
the rock properties of the shales are similar to high productivity Bossier
wells in Northwest Louisiana and East Texas. These observations, combined with
natural fracturing and very high pressures in excess of 20,000 psi, suggest
that the well could have very strong production rates in the Bossier Zone.

The Bossier Section consists of interbedded sandstones, siltstones and shales
within a naturally fractured, high-pressure environment. Petrophysical analysis
suggests that some of the sandstones have very good conventional porosity.
Typical, in these types of formations, production rates are high.

Good porosity is also observed within approximately 70 feet of the overlying
Knowles Lime in the Burkley-Phillips #1 well. Petrophysical analyses, as well
as exceptional mud gas shows observed while drilling this unit, indicate the
potential for excellent gas production within this interval.

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 April 13, 2011 at 3:09

Thanks Les. I apologize for the formatting problems.

Permalink Reply by 1sk58mq3tyx9y on April 13, 2011 at 3:58

Les, I have received this report from the guy that I bought my RA's from. These RA's are located on the Black Creek Plantation 2 or 3 miles just to the east of that Burkley- Phillips well . As you might guess, we hope that other wells will be forth coming in this area and one will be dropped on us. "Hope Springs Eternal"...........Bill

Permalink Reply by Flip Phillips on April 13, 2011 at 5:35

Hi Bill.....mind me asking what the report is about? Also, what are the RAs selling for in the area that you have?

Thanks,

Flip

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