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Is anyone trading on the Grey Market?
I have 24,500 shares to sell, not sure where to trade.
I am still riding the MNLU-merger stock-AEXP now-STLT, but waiting on news, it is now a R/M VC-Biotech, or at least that is the plan. At least it did not do the BK-belly flop. We all lost big money here, but I could come out with a profit or break even still since I played the other merger stock. I bought the knife on it in volume when it collapsed and held. I actually set the bottom on it, LOL.
Unfortunately it won't be with Mainland. I took it on the chin with that stock. Oh well
Thanks!!! I would like to follow that story for sure. I posted up here recently because NG spiked back up to the prices where that well could be very profitable.
Wow!....I haven't been here in a while. I'm surprised to see posts as recent as 2/20/14. Why is that? Mainland went belly up quite a while ago.
Anyhow, just as an update for those interested. Mainland is out of the picture other than the 'well' liens against them. It hasn't been capped yet and there are some interested parties to complete it. If an agreement is made to satisfy the liens, the well may be resurrected. Then again....we have been waiting for our field to be developed for 50/60 years?....who knows what will come of it.
The well is so deep that it needs special non corrosive pipe. Mainland actually ordered it from Japan (a few weeks before the tital waves) and that compounded the problem. The pipe finally got delivered but Mainland was gonso by then.
Anyhow...satisfy the lien, pay for the pipe and a company is back in business. If it does go public (doubtful), I'll report it back to you.
Adios
Interesting. I owned it around. 60 ish.
Interesting. I owned it around. 60 ish.
Not sure when that was. In 2008 MNLU was a smashing success, hit pay dirt, payed off all their debt and had 13 million left over. They forked up their next gamble bad, bet on $5 NG bottom, did not raise cash early like they should have, and lost it all when NG prices fell under $3, a 15 year low. Sad part is NG is back at $6 on a winter spike now 2 years latter after they went lights out.
This was one that was real, but they made fatal, bad market bets, like Lehmans brothers.... Then late in a game, a bad buy, Gordan Brent Peirce who was hiding in the shadows, was revealed and screwed everybody, trying to save his ownass. Even with out his scaming games, I doubt MNLU could have survived with all the debt and at the time, no hope of higher NG prices to bail them out.
Was the email pump i got when it was already at a high
IS? LOL, what was the first clue?
Looks like I picked the right one of the two to buy and hold in the merger 3 years ago (Hint it was not MNLU). Sad part is NG is up over $5 again, the level at which the MNLU well could have been very profitable, and completed and the pipeline built, even with the Gordan Pierce in the back ground.
I wonder if the well owners are working a new deal now since the oil rights went back to them. One of them use to post here.
try burning them.. this was, is and always be a POS
try burning them.. this was, is and always be a POS
Does anyone know what we can do with our holdings now?
keep me in the loop of any lawsuits that pop up for this scam chuckt12345@gmail.com
charlie
well i officially lost about 57k in this pos
at least i can write it off this year.
There are no officers and directors at this company any longer so the SEC probably became aware of this and is now acting.
The related companies seem to be in the ruins too...
Looks dead now with the SEC suspension. I am curious if the SEC is moving faster now on suspensions or if something else happened to catch their eye finally.
Were they that far behind, or has the SEC started going after them sooner? Usually the SEC waited about 2 years, has it been that long now?
Late filings was what I thought I understood. I wish it would of been fraud.
They moved pretty fast on the suspension I think, did you see why they suspened it? Late fillings or fraud or BK?
MNLU like all other SEC Suspended stocks are removed from the OTCBB or OTC to the Grey Sheets by default after 3 days but MNLU will not be allowed to trade until September 24th....the full ten day Suspension expiring on the 23rd.
I just read MNLU is now trading on the grey markets.
MNLU SEC Suspension:
http://www.sec.gov/litigation/suspensions/2013/34-70354.pdf
Order:
http://www.sec.gov/litigation/suspensions/2013/34-70354-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2013/34-70355.pdf
Has the dust settled here or has the Grim Reaper carried off the carcass of MNLU yet?
What ever happened to the deep well?
Mike, could'nt happen to a better bunch of guys.
LOL
Also keep in mind that MNLU did a R/S and massive dilution since the R/S, that leaves Gordan Brent Pierce and his private Westrock firm and his cronies holding 80% of the shares in a now BK MNLU, while their prior JV merger partner American Exploration has not done a R/S or any dilution, is not BK and is still fully reporting while MNLU is no longer reporting because they are BK.
RTM, at least AEXP is alive and breathing. Last I noticed AEXP has filed all required SEC docs & has a legit CEO.
MNLU
Mainland Resources, Inc.
OTC Pink Limited Logo
Your projected price..
LOL, what was the first clue?
This is not the AEXP board.
Won't be long here. .001 next stop?
.012 now, sub penny is close!!!
I rarely post to message boards but after reading the last 15 or 20 posts here beginning with 6852, I felt that I should share a little bit here as sort of a guy at the next stool over in the setting similar to that of, old movie "The Iceman Cometh", starring Jason Robards Jr.
First, thank you all who have been faithful for keeping all us "investors" informed as to the current events in the life and death of Mainland Resources Inc. I've ridden several into the dust over the years and am currently sitting on the loose ends of a few, hangig over a cliff, out of sight. I recently sold off a few close to the cliff just to salvage something from what soon looks to be nothing, before it actually is.
What provoked me to write here was the post of Carl2591 of Feb 19, 2013, it was the only post that day, he was responding I believe to Ecomike's post about how the head crook had to sell his multi million dollar home to stay out of jail... the way he put his sentiments regarding the poor crook's situation had me laughing on and off for 10 minutes at least, I'm still laughing. Actually I think he meant to be mean but he came across "way too kind". THAT, I guess was the activator of my amusment.
And so that this reading will not be a loss I'll add something that I hope reaches a few who can appreciate it:
for any of you were born at least in the 40's, you might remember a popular singer born in the 30's named Walden Robert Casotto, No? well, that's because he changed it himself just before he left college to pursue a career as an entertainer. His doctor had told him he could die at any time, with no remedy available so he decided to reach for the stars in a hurry. He died in 1973 at 37 but is as much alive as Frank Sinatra to those who lived within the sound of his music. Bobby Darin was the name he chose for himself, Google it. A better thing, if you are interested is to get a fantastic deal at Amazon for $8-15 a cd/dvd set with all the music and video "amazingly restored", the reviews say (I sent for one a few days ago but have not yet received it) and see it for yourself. My wife had picked up an old vhs tape: "Bobby Darin Mack is Back" which was his last show, that's what got me remenbering and wondering about his story.
My investment in the cd/dvd will net me more than many a fallen stock.
I recently bought and sold and am holding, a promising stock: APDN Applied Dna Sciences, which fortunately I bought and sold at the right time to make some money while still retaining some shares. I think it's a great company but the world we live in has made the stock market a different place than it has ever been before so who can tell?
Best to you guys
For all you mnlu players that remember the AEXP boondagle:
(4 AEXP = 1MNLU)it might be a good time to sell MNLU and buy AEXP 1 mnlu = 6.5 aexp
Very good things happening over there, pennies soon.
JMHO, GLTA
Mike, maybe some of these mnlu holders still have some AEXP shares as well. We should invite them over.
Indeed! Gives a whole new meaning to "Homeless on Wallstreet!"
I read today that the main crook behind the crocks at MNLU, Gordon Brent Pierce had to sell his multimillion dollar house in Vancouver to pay fines to stay out of jail.
Right, and MNLU has 20 times the debt too, with many judgements against them and against the well. If the creditors are smart they should sue Brent Pierce and Westrock for recovery and fraud.
Mike, even if revocation is a long way off, I'wouldn't touch this stuff with your $. Look how many more shares of AXEP one can acquire @.007 vs .07 LOL
SEC must revoke the registration for that to happen. That is a long ways off right now.
How is this thing still trading if all the directors and officers resigned?
It also lists a European phone number.
I am pretty sure Brent Pierce and Westrock are now completing the final take over of this, final stages of getting rid of the old shareholders. The shell games will start next, but maybe start not right away.
I wonder if the officers-directors have also resigned from Brent Pierce's other scams, like Mercer Gold?
The interesting part of this update is below.
The officers and directors of the Company have shown the Buena Vista project to over 100 potential investors over the last two years, and most recently, a group of Korean investors who are interested in the LNG potential of the prospect. However, the Company has been unable to consummate a deal given the adverse market aforementioned.
I found that interesting because if you go to the contact page on their website,
http://mainlandresources.com/index.php?option=com_content&view=article&id=51&Itemid=58
it now lists a Korean office.
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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.
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).
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.
_______________________________________________________
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.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
Mississippi: Ford's Creek Prospect - additional acreage
*****************************************************************************************************************************************
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) Investor Relations (Europe) |
Europe telephone
49-69-7593-8408
For Investor relation please contact:
Mike Parker
Main phone: 604-608-6192
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