Mainland Resources Inc.
OTCBB:
MNLU
www.MainlandResources.com
Mainland Resources is a junior resource 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 Louisiana's emerging gas region near Elm Grove.
Mainland Resources, entered into an option agreement
with Kingsley Resources, Inc., on February 27, 2008, pursuant to which
the Company acquired all the right, title, and interest
Kingsley holds in and to certain leasehold estate.
The leasehold estate refers to approximately
2551 net acres located in De Soto Parish in northwest Louisiana. The
leases create a contiguous block of acreage on the southeast flank
of the East Holly field.
Based on well bore petrophysical analysis, actual production
tests, mud logging records and electric log analysis from wells located
in the area of the lease block, Mainland Resources, Inc. expects to
target the Hosston and Cotton Valley sandstone and Haynesville shale
formations. Historically, recoverable gas volumes range from 2 Bcf
to a high of 32 Bcf per section.
Other De Soto Parish area operators include Petrohawk
Energy, El Paso Gas, Winchester Petroleum, Chesapeake Energy and Encana.
All are actively involved in acquiring new land positions in the area
on which to drill.
Petrohawk recently completed a horizontal Cotton Valley
well that, according to news releases, is said to have tested 16.0
Mmcf/d. El Paso has recently drilled and completed a vertical Cotton
Valley well that, according to news releases, is said to have tested
2.3 Mmcf/d. Chesapeake has only very recently announced its first
discoveries in the Haynesville Shale, which it states could produce
over 3 Bcf and some analysts suggest may produce 5+ Bcf gas per well.-->Read
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