Mainland Resources, Inc.(fka MNLU)

[TJ4]

I just got off the phone with Mike Parker and nothing has changed, they are still negotiating with Investment bankers and are looking at approx 8 million to complete this well. They are not concern with the property lease and they have some big name companies interested in this field once it's proven.

I feel after speaking with him that I'm comfortable to sit patently till funding is acquired. If I can quote Mike "once this field is proven and producing, someone will be making allot of money."

I like others thought that Burkley Phillips #1 would be completed by now but I have resign myself to think this may take awhile but it is a junior company so I should have anticipated this happening. Worse case scenario, they could end up given more to have someone back them but they would never walk away from such a find and the wait could be to our advantage in the end.

GLTA