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Mainland buying land, likes prospects

Mainland Resources Inc. of Houston, Texas, has signed a letter agreement to acquire up to 8,000 net acres in Mississippi for an undisclosed sum. Mainland would own a 100 percent working interest in the acreage and would 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 1980s and was not validated during drilling to a deeper prospective target.

According to available well logs from drilling, the identified Bossier/Haynesville Shale is demonstrated to be over 2,500 feet thick with extremely large pressures up to or exceeding 20,000 psi. The Bossier/Haynesville Shale is possibly much thicker than 2,500 feet, which is several times thicker than the Bossier/Haynesville Shale encountered in Northwest Louisiana.

Mainland president Mike Newport said, “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 Northwest 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.”

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