Mainland Resources, Inc. Expands Acreage and Advances Payment on Expanded Haynesville Shale Leases in Mississippi
HOUSTON, Aug. 28 /PRNewswire-FirstCall/ — Mainland Resources, Inc., (OTC Bulletin Board: MNLU 5MN-Frankfurt) a Nevada Corporation (the “Company”) has expanded the net acreage in its Letter Agreement announced June 23, 2009 to now acquire 8500 net acres in Mississippi. This adds an additional 500 acres to the lease area not included in the initial agreement. Mainland also agrees to advance a payment of USD $300,000 towards the total purchase price of the acreage on or before August 31, 2009. This serves to extend the Option Agreement until October 15, 2009. Mainland agrees to advance the entire balance payment to acquire the Option on or before October 15, 2009. Upon completion of the transaction, Mainland will own a 100% Working Interest in the acreage and will 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 therefore, was not validated during drilling to a deeper prospective target. The well was drilled as a controlled blowout through the Bossier/Haynesville Shale to Total Depth.
About Mainland Resources, Inc.
Mainland Resources is a junior 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.
See: www.mainlandresources.com for more information.
Symbol: MNLU – OTCBB, Symbol: 5MN; Frankfurt, WKN No.: A0ND6N
Contact: Investor Relations (USA) Tel. 281-469-5990 Investor Relations (Europe) Tel. +49-69-7593-8408
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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. 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-KSB AND ON FORM 10-QSB 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 FORWARD-LOOKING 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.
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SOURCE Mainland Resources, Inc.