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Mainland Resources, Inc.(fka MNLU)

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About Mainland Resources, Inc.
12/23/2011
(OTCBB: MNLU)(OTCQB: MNLU)(FRANKFURT: 5MN)(WKN: A0ND6N)  announce on December 23, 2011, it reached an Agreement in Principle, subject to certain conditions precedent, including entering into a definitive agreement, to purchase, from the owner, all rights, title and interest in and to approximately 4,580 acres of oil and gas leases located on the Buena Vista prospect in Mississippi (collectively the "Leases"). The Leases were previously held by American Exploration Corporation ("American"). As consideration for the purchase, the Company has agreed to issue 15,000,000 shares of its capital stock to the owner and has agreed to grant the owner a 5 percent working interest, after payout (100% recovery of all drilling and completion costs), of any wells drilled and completed on the approximately 12,800 acres (including the Leases) initially contributed to the Buena Vista Joint Operating Agreement by Mainland and American.  The Company closed on December 23, 2011, at $0.175, trading in a fifty-two week range of $1.045 - 0.082.



Mainland and its working interest partners control approximately 17,265 net acres or 28 sections on the Buena Vista prospect area where the Burkley-Phillips No. 1 well was drilled to 22,000 feet, cored and logged. Upon completion of the purchase of the Leases, Mainland would own 92% before payout of approximately 9,040 acres and 72% before payout of the remaining approximately 8,225 acres comprising the total 17,265 acres in the Buena Vista prospect. As recently announced, core analysis has determined that gas in place in the Buena Vista prospect could be up to 500 BCF/section based on the cored interval.

Mainland is engaged in the exploration of oil and gas resources. The Company's current initiatives are focused on the acquisition and development of acreage in emerging and early developing oil and gas regions with the potential for material discoveries. For information see: http://www.mainlandresources.com.



Temporary Update: 11/02/2011

Here is the latest SEC 10-Q source:
http://www.sec.gov/Archives/edgar/data/1395205/000118374011000791/f10q.htm

http://www.sec.gov/Archives/edgar/data/1395205/000118374011000186/f8k03142011ex99.htm

Covers the 14 billion BCF of natural gas per section (time 28 sections) PR for the Buena Vista Miss leases.

Book value of unproven reserves is .16/share (probably based on lease costs paid out).

The recent independent analysis of the Louisiana assets places their market value at about 40-45 cents a share (oil, gas, and condensates).

http://www.sec.gov/Archives/edgar/data/1395205/000118374011000025/f8k01062011ex99.htm

The two separate studies of logging data while the well was drilled, and core sample studies, times the post merger acre size, yields a calculation of about $1 billion dollars of natural gas in place at 22,000 feet (400 F, +20,000 psi!!!!) in the Miss leases alone. This does not account for oil above 22,000 feet, or smackover oil believed to be below the current well in the same property in Miss. It also does not include the lease property in Louissiana (the 40 cent a share value I mentioned above).

The company has about $4 million dollars in total debt, that is unsecured!!!! (only exception is a few liens from recent court judgements on recent past due bills).

One of the new directors, Jerry, owns at least 10% of the shares outstanding!!! See the form 4 he filed when he accepted the Directorship about 6 months ago.


Quote:
On April 22, 2010, the Company closed the sale of its Haynesville Shale assets in East Holly Field, DeSoto Parish, Louisiana. The assets have been sold to EXCO Operating Company, LP, a wholly owned subsidiary of EXCO Resources, for $28,159,604 effective January 1, 2010. The Company has sold its 40% working interest in all rights deeper than the base of the Cotton Valley formation (which has been defined to be 100 feet below the stratigraphic equivalent of the Cotton Valley formation and includes all of the Company's producing wells as described above) in the East Holly Field. The Company continues to own a 100% interest in all rights above this depth and specifically, in the Cotton Valley, Hosston and Upper Bossier sections.

The Company has used the proceeds of the sale to fund the drilling of the initial well (designated as the Burkley-Phillips No. 1 Well) on its Buena Vista prospect in Jefferson County, Mississippi, and to retire its debt to Guggenheim Partners LLC. (Refer to Note 9).



Insiders have loaned the company cash using unsecured loans this year amounting to well over $1 million dollars.

Quote:
On April 22, 2010, the Company closed the sale of its Haynesville Shale assets in East Holly Field, DeSoto Parish, Louisiana. The assets have been sold to EXCO Operating Company, LP, a wholly owned subsidiary of EXCO Resources, for $28,159,604. The Company used part of the proceeds to retire its debt to Guggenheim and to re-acquire the overriding royalty interests granted to Guggenheim in the DeSoto Acreage.


Quote:
During fiscal 2011, a shareholder (the "Secured Party") advanced $650,000 to the Company pursuant to a Demand Secured Promissory Note which bears interest at 10% per annum. During the six months ended August 31, 2011, the Secured Party advanced a further $355,000 on the same terms resulting in a total of $1,005,000 owing to this Secured Party.


The 28 million dollar sale last year and prior JV involved Petrohawk which was bought this year for billions of $$ $s by a huge company (I don't have the details handy, IIRC Exxon Mobil bought XTO energy which bought Petrohawk which bought the last batch of MNLU assets? Or do I have that mixed up, LOL been so many billion dollar mergers and buyouts, I forget which was which).

_______________________________________________________

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 Louisiana's emerging northwestern gas region that is gaining notoriety for recent discoveries in the Haynesville shale.

The Company's Mississippi Prospect is located along the Gulf Coast Salt Basin in a region where Mainland believes there exists an extension of the Haynesville shale similar to the discovery region in Louisiana. After assessing proprietary data on previous drilling of a deep well in the region, management is convinced of its potential for major shale-gas production. The exploration area now extends to over 17,800 acres

http://www.mainlandresources.com


Presentation:

mainlandresources.com/index.php


 

Read these  interviews with Mike Newport

http://www.shreveporttimes.com/article/20100725/NEWS01/7250332/New-gas-exploration-could-bring-boon-to-region

http://www.dolanmedia.com/view.cfm?recID=614765

 

 Mainland CEO with CNBC interview link 


http://www.cnbc.com/id/15840232/?video=1591854899&play=1

NEWS:

http://mainlandresources.com/index.php?option=com_content&view=article&id=50&Itemid=57

Tim Ord's  report on Mainland  --- MUST read

www.top10stockstoday.com/MNLU/MNLU_landing_2011_01_15.html

Merger:  AEXP into MNLU

target Date   ???, 2012-?.

Financial Report    10Q

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=7357179

SHARE STRUCTURE

600 Million  AS

Common Shares Outstanding as of 1/13/12                                                           95,969,502    After buying AEXP acreage

Options - Balance as of 11/30/09 - $1.19 Weighted Average Exercise Price        7,000,000

 

Note: This estimate does not take into account the impact of the potential issuance of approximately 14.9 million shares and various options and warrants associated with the planned stock for stock merger with American Exploration Corporation.

 

Overview

Mainland Resources, Inc. is engaged in the exploration and development of two oil and gas prospects in the southern United States.

The Company's Mississippi Prospect is located along the Gulf Coast Salt Basin in a region where Mainland believes there exists an extension of the Haynesville shale similar to the discovery region in Louisiana. After assessing proprietary data on previous drilling of a deep well in the region, management is convinced of its potential for major shale-gas production. The exploration area now extends to over 17,800 acres.

Mainland has spent considerable time and dedicated its resources to pursue this prospect. Company management is rolling out a comprehensive drilling plan to validate the potential of the Mississippi Haynesville Prospect by mid-2010.

All of Mainland's prospects have been selected based on economics, low-risk to development, and on potential for immediate revenues through discovery of significant natural gas structures and/or accompanying oil. The Company's focus remains the exploration and development Haynesville shale, Cotton Valley/Hosston and Bossier shale projects in the Gulf Coast and Southern USA.

 

********************************************************************************************************************************

Acreage and Well summary: ( unofficial)

 

Mississippi:     Buena Vista Prospect  - Haynesville formation

  • Mainland and its working interest partners control approximately 17,265 net acres or 28 sections on the Buena Vista prospect area where the Burkley-Phillips No. 1 well was drilled to 22,000 feet, cored and logged. Upon completion of the purchase of the Leases, Mainland would own 92% before payout of approximately 9,040 acres and 72% before payout of the remaining approximately 8,225 acres comprising the total 17,265 acres in the Buena Vista prospect. As recently announced, core analysis has determined that gas in place in the Buena Vista prospect could be up to 500 BCF/section based on the cored interval.

    Mainland is engaged in the exploration of oil and gas resources. The Company's current initiatives are focused on the acquisition and development of acreage in emerging and early developing oil and gas regions with the potential for material discoveries. For information see: http://www.mainlandresources.com.

    

        --  1st well ---Burkley-Phillips No.1     Highly successful

  •   Mainland and its working interest partners control in excess of 17,800 net acres or 28 sections on the Buena Vista prospect area where the Burkley-Phillips #1 well was drilled to 22,000 feet, cored and logged. Upon successful completion of its proposed merger with American Exploration, Mainland would own 92% of the 28 sections in the Buena Vista prospect. As recently announced, core analysis has determined that gas in place in the Buena Vista prospect could be up to 500 BCF/section based on the cored interval.

Mississippi:  Ford's Creek Prospect - additional acreage

  • 1,270 net leasehold acres in Western Mississippi
  • same general geological region as the Buena Vista Project
  • previous well from 1980's-- 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.
  • The 1270 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.

 

*****************************************************************************************************************************************

Murphy Analytics Initiation
Report on MNLU
May 3, 2010


 www.murphyanalytics.com/uploads/MNLU_Initiation

 Additional coverage:

http://www.top10stockstoday.com/MNLU/MNLU_landing_2011_01_15.html

 *****************************************************************************************************************************************

Mission and Vision

Mainland Resources, Inc. is a junior independent oil and gas exploration, development and production company seeking crude oil, natural gas, and natural gas resources.

Vision

Mainland Resources, Inc. has acquired an initial prospect and plans to develop a low-risk gas prospect in a widely recognized discovery region. The Company plans to develop its foundation prospect to it fullest potential and maximize opportunities for drilling and as possible, further acquisition of leases in the area.

By developing high quality prospects and employing qualified contract consultants using the industry's leading technology, Mainland Resources, Inc. intends to keep strong control over project costs and success rates. Mainland Resources, Inc.'s strategy is to limit downside risk and become a significant production-oriented developer with bankable reserves built through drilling initiates, joint ventures and by acquisition or merger.

Ultimately, Mainland Resources, Inc. intends to use core group assets to drive its growth in multiples based on participation in successful exploration projects.

Mission

• To build a dynamic oil and gas exploration and production company that delivers on its promise for the successful acquisition, development and production of oil and natural gas resources.

• To operate in an ethical manner in order to become a respected corporate citizen amongst peer companies in the industry.

• To create above average returns for shareholders, partners and stakeholders in the company through carrying out the corporate mission.

 

 

Corporate Offices:

Mainland Resources, Inc.
21 Waterway Avenue, Suite 300

The Woodlands, Texas 77380
USA

Email: info@mainlandresources.com

Contact:        

Investor Relations (USA)
Tel. Toll-Free North America +1-877-662-3668

Investor Relations (Europe)
Tel. +49-69-7593-8408

 


Europe telephone
49-69-7593-8408

For Investor relation  please contact:

 Mike Parker 

Main phone: 604-608-6192 
IP Phone: 608-721-0331 
mparker193@gmail.com 

 

 


 

PostSubject
#6902   I am still riding the MNLU-merger stock-AEXP now-STLT, Ecomike 03/07/14 04:24:33 PM
#6901   Unfortunately it won't be with Mainland. I took flipper4 03/07/14 09:18:07 AM
#6900   Thanks!!! I would like to follow that story Ecomike 03/06/14 05:27:36 PM
#6899   Wow!....I haven't been here in a while. I'm flipper4 03/06/14 05:05:51 PM
#6898   Interesting. I owned it around. 60 ish. myopinion 02/20/14 07:00:31 PM
#6897   Interesting. I owned it around. 60 ish. myopinion 02/20/14 07:00:28 PM
#6896   Not sure when that was. In 2008 MNLU Ecomike 02/20/14 06:47:59 PM
#6895   Was the email pump i got when it myopinion 02/20/14 06:36:35 PM
#6894   IS? LOL, what was the first clue? Ecomike 02/20/14 06:29:37 PM
#6893   MNLU IS A SCAM myopinion 02/16/14 12:38:15 AM
#6892   Looks like I picked the right one of Ecomike 01/25/14 09:31:12 PM
#6891   try burning them.. this was, is and always carl2591 01/25/14 04:03:44 PM
#6890   try burning them.. this was, is and always carl2591 01/25/14 04:03:44 PM
#6889   write them off rcht2370 10/15/13 11:09:06 AM
#6888   Does anyone know what we can do with F00LSgold 10/02/13 02:14:57 AM
#6887   MNLU revoked: Renee 10/01/13 09:46:56 AM
#6886   keep me in the loop of any lawsuits rcht2370 09/18/13 03:35:04 PM
#6885   well i officially lost about 57k in this pos rcht2370 09/18/13 03:33:14 PM
#6884   There are no officers and directors at this admfsf 09/16/13 10:51:01 AM
#6883   Looks dead now with the SEC suspension. I Ecomike 09/16/13 01:47:30 AM
#6882   Were they that far behind, or has the Ecomike 09/12/13 01:28:00 PM
#6881   Late filings was what I thought I understood. jd19 09/12/13 12:23:33 PM
#6880   They moved pretty fast on the suspension I Ecomike 09/12/13 11:12:19 AM
#6879   MNLU like all other SEC Suspended stocks are Renee 09/12/13 08:20:08 AM
#6878   I just read MNLU is now trading on Ecomike 09/12/13 01:50:20 AM
#6877   MNLU SEC Suspension: Renee 09/10/13 09:49:47 AM
#6876   Has the dust settled here or has the Ecomike 07/20/13 03:53:21 PM
#6875   Mike, could'nt happen to a better bunch of guys. chilar4567 06/12/13 02:56:33 PM
#6874   Also keep in mind that MNLU did a Ecomike 06/12/13 12:06:31 PM
#6873   RTM, at least AEXP is alive and breathing. chilar4567 06/12/13 06:24:10 AM
#6872   Your projected price.. reversetaxman 06/11/13 10:23:21 AM
#6871   LOL, what was the first clue? Ecomike 06/10/13 11:53:12 PM
#6870   This is not the AEXP board. reversetaxman 06/10/13 10:56:35 PM
#6869   Won't be long here. .001 next stop? Ecomike 06/10/13 12:40:30 PM
#6868   .012 now, sub penny is close!!! Ecomike 05/15/13 06:38:49 PM
#6867   MNLU about to head sub penny now. Ecomike 05/12/13 12:33:55 AM
#6866   I rarely post to message boards but after FREEZ 02/28/13 01:46:57 AM
#6865   For all you mnlu players that remember the chilar4567 02/21/13 03:51:13 PM
#6864   Mike, maybe some of these mnlu holders still chilar4567 02/21/13 11:57:43 AM
#6863   Gordon Brent Pierce had to sell his carl2591 02/19/13 02:42:32 PM
#6862   Indeed! Gives a whole new meaning to "Homeless Ecomike 02/18/13 09:22:23 PM
#6861   how VERY SAD:( kcsunshine 02/18/13 08:15:16 PM
#6860   I read today that the main crook behind Ecomike 02/18/13 06:42:11 PM
#6859   Right, and MNLU has 20 times the debt Ecomike 02/14/13 11:43:04 AM
#6858   Mike, even if revocation is a long way chilar4567 02/13/13 11:42:12 PM
#6857   SEC must revoke the registration for that to Ecomike 02/12/13 11:33:19 AM
#6856   How is this thing still trading if all jd19 02/12/13 09:49:49 AM
#6855   It also lists a European phone number. Ecomike 02/11/13 11:34:26 AM
#6854   The interesting part of this update is below. jd19 02/11/13 10:25:08 AM
#6853   Yes, and interesting that AEXP rallied here days Ecomike 02/08/13 10:13:50 PM
PostSubject