Mainland updates merger talks, hires Harding

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Published: February 4,2011

Tags: energy, mergers and acquisitions, oil and gas

Mainland Resources Inc. reports it is “rapidly progressing” with the merger agreement previously entered into with American Exploration.

The agreement contemplates a stock-for-stock merger between Mainland and American Exploration. The companies entered into an amending agreement, which has extended the termination date of the merger agreement to March 31, 2011.

As part of its working relationship with American Exploration, Houston, Texas-based has engaged Steven Harding to act as a consulting geologist on its Mississippi Buena Vista project. Harding has occupied a number of senior positions during the past 28 years within EnCana Corporation and its predecessor Alberta Energy, as well as Husky Energy. His experience includes acting as vice president northern Canada and vice president Alaska/MacKenzie Delta at EnCana and chief geoscientist at Husky Energy.

Mainland CEO Nick Atencio said, “The proposed merger is moving ahead as intended. We are fortunate to be able to enlist Steve Harding as part of the team developing our Mississippi interests. Once merged, the combined assets will place Mainland in an enviable position in this region.”

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