Beacon Equity Research Rates Mainland Resources Inc. 'Speculative Buy,' Target Price $7.00
Posted on: Wednesday, 2 July 2008, 09:00 CDT
Mainland Resources Inc. (OTCBB: MNLU) has been rated Speculative Buy with a price target of $7.00 by Beacon Equity Research Analyst, Lisa Springer, CFA.
The full report is available at http://www.beaconequity.com/adpages/MNLU.
Anyone interested in receiving alerts regarding Mainland Resources Inc. research should e-mail members@beaconequity.com with "MNLU" in the subject line.
In the report, the analyst writes, "We think Mainland warrants a premium valuation relative to the peer group due to the location of its leases in the heart of what may be the largest, most successful domestic energy play and the robust revenue growth that may result from the extended drill program. We also believe Haynesville Shale wells are relatively low cost and low risk. Mainland anticipates re-couping all of its per well drill costs within the first four months of production."
Other companies in the oil and gas industry include Chesapeake Energy Corp. (NYSE: CHK), Petrohawk Energy Corp. (NYSE: HK), Goodrich Petroleum Corp. (NYSE: GDP), and Questar (NYSE: STR).
Beacon Equity Research Disclosure
The analysts contributing to this report do not hold any shares of MNLU. Additionally the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research ("Beacon") certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. Beacon and its affiliates have been compensated a total of nine thousand five hundred dollars directly from the company for enrollment of MNLU in its research program and other services. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
Source: Business Wire
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