Replies to post #6478 on Mainland Resources, Inc.(fka MNLU)

[Ecomike]

I don't think they will even try to raise money right now or complete the well, as the price of NG is too low for them to make any money, even if the well was completed today. They would loose money pumping NG today at today's price, and loose future value of NG big time. Pierce and his buddies have proven they can drill the wells, and proven the gas is there, and the gas quality. Now they will wait 2-3 years and sit on the assets until NG prices rise again. Their only risk is loosing the MNLU and Westrock leases, but right now I suspect no one else really wants the leases either. The wells and infrastructure are too costly unless NG is back about $4, or at or above $5.