Mainland Resources, Inc.(fka MNLU)

[Ecomike]

I checked with an oil & gas industry expert yesterday, and confirmed that based on what we know today, that Westrock now owns and controls the BP#1 well by virtue of owning and controlling the leases. While the state may hold MNLU responsible for properly closing and sealing off the well (if they never get it into production), Westrock now seems to hold all the cards regarding the leases and ownership of the well. It is a bit complicated, legal issues, in that there are debtor leans filed against the well (against MNLU), based on posts here about 3-6 months ago, and so they have some rights (in court, etc.), and Westrock seems to now be in a position where they can if they choose to, cut MNLU out of any future deals on the core well site leases at will.

Not saying that Westrock will do this, just saying they have all the cards now. For now, Pierce and Westrock may still be attached at the hip to MNLU (secured debt MNLU owes Pierce, and if he still owns 20% of MNLU shares???) to try and raise funds, but NG is still dropping and seems headed for $2 now, while everything else is rallying.