MAINLAND RESOURCES, INC. ACQUIRES SECOND OIL AND GAS TARGET IN WESTERN MISSISSIPPI
(firmenpresse) -
MAINLAND RESOURCES, INC. ACQUIRES SECOND OIL AND GAS TARGET IN WESTERN MISSISSIPPI
Houston, TX – Aug. 3, 2010 - Mainland Resources, Inc. (the “Company” or “Mainland”)
(OTCBB: MNLU, Frankfurt: 5MN) has acquired a second target prospect for exploration
of oil and gas formations in Western Mississippi.
The Company has acquired a 100% working interest in approximately 1,260 net
leasehold acres in Western Mississippi, within the same general geological region as the
Buena Vista Project in Jefferson County, Mississippi.
Mainland is currently testing the Buena Vista Prospect with the drilling of its Burkley-
Phillips No.1 well. The well was spudded on July 21, 2010 and has a projected drilling
depth of 22,000 feet, which will test the Haynesville Shale and potentially shallower
productive formations.
This new acreage acquired by Mainland is similar to the Buena Vista prospect, as the
prospect was originally developed by a major oil company to drill a 20,000-foot plus well
in the early 1980s. The deep test drilled was not successful in establishing production in
the deep target zone. However, the driller encountered four to five shallower zones that
did calculate to be potentially productive. These zones were not of interest in the early
1980s because the major oil and gas companies were looking for very large reserves at
the time, and the market prices for fuels could not justify completing costs in these
shallower zones.
According to data received by the Company, there is a gas zone at approximately
15,000 feet that had good porosity and mud log shows.There are three to four different
Tuscaloosa oil zones between 13,000 feet and 14,000 feet that had good mud log shows
and porosity. All the zones calculate to be potentially productive.
This interval includes the Tuscaloosa Marine Shale, an oil-bearing shale known to cover
fourteen parishes and counties in Louisiana and Mississippi.
Mainland President, Mike Newport states, “This is another solid prospect for exploration
by Mainland that’s very similar to the Buena Vista. The 1260 net acres would support
two gas wells at the depth of 15,000 feet. In the event the oil zones are productive, they
could support as many as 15 to 16 locations on each of the four oil bearing zones.”
About Mainland Resources, Inc.
Mainland Resources is a 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.
Symbol: MNLU – OTCBB, Symbol: 5MN; Frankfurt, WKN No.: A0ND6N
Contact: Investor Relations (USA)
Toll-Free North America +1-877-662-3668
Investor Relations (Europe)
Tel. +49-69-7593-8408
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. FORWARD-LOOKING
STATEMENTS INCLUDED IN THIS NEWS RELEASE CONSIST OF STATEMENTS RELATING TO THE COMPANY’S
PLANS TO COMMENCE DRILLING OF UP TO THREE WELLS IN THE HOSSTON/COTTON VALLEY FORMATIONS
OF THE EAST HOLLY FIELD, AS WELL AS THE BURKLEY-PHILLIPS NO. 1 WELL. 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-K AND ITS QUARTERLY REPORTS ON FORM 10-Q, 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 FORWARDLOOKING
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 FINRA, THE SEC AND THE BRITISH COLUMBIA SECURITIES
COMMISSION 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.
IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC
The Company and American Exploration Corporation intend to file certain materials with
the United States Securities and Exchange Commission in connection with the proposed
merger transaction between the parties announced on March 23, 2010, including the
filing by the Company with the SEC of a Registration Statement on Form S-4, which will
include a preliminary prospectus and related materials to register the securities of the
Company to be issued in exchange for securities of American Exploration. The
Registration Statement will incorporate a joint proxy statement/ prospectus that the
Company and American Exploration plan to file with the SEC and mail to their respective
stockholders in connection with obtaining stockholder approval of the proposed merger.
The Registration Statement and the proxy statement/prospectus will contain important
information about the Company, American Exploration, the merger and related matters.
Investors and security holders are urged to read the Registration Statement and the
proxy statement/prospectus carefully when they are available. Investors and security
holders will be able to obtain free copies of the Registration Statement and the proxy
statement/prospectus when they become available, and other documents filed with the
SEC by the Company and American Exploration, through the web site maintained by the
SEC at www.sec.gov. The Company’s security holders will also receive information at
an appropriate time on how to obtain these documents free of charge from the
Company. In any event, documents filed by the Company with the SEC may be obtained
free of charge by contacting the Company at: Mainland Resources, Inc.; Attention: Mr.
William Thomas, CFO; 21 Waterway Avenue, Suite 300, The Woodlands, Texas 77380;
Facsimile: (713) 583-1162.
Each of the Company and American Exploration, and their respective directors and
executive officers, also may be deemed to be participants in the solicitation of proxies
from their respective stockholders in connection with the transaction described herein.
Information regarding the special interests of these directors and executive officers in the
transaction described herein will be included in the proxy statement/prospectus
described above.
Leseranfragen:
Mainland Resources Inc.
20333 SH 249, Suite 200
Houston, Texas 77070
USA
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Datum: 04.08.2010 - 11:55 Uhr
Sprache: Deutsch
News-ID 24591
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Kategorie:
Business News
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