HOUSTON, May 14 /PRNewswire-FirstCall/ -- Mainland Resources, Inc., a
Nevada corporation (the "Company") (OTC Bulletin Board: MNLU; 5MN-Frankfrurt)
has contracted with OPS Group Ltd. of Houston, Texas to act as its Operator on
the planned drilling program on the Company's East Holly Field Leases in
DeSoto Parish, Louisiana. Mainland holds a 100% working in four contiguous
sections in T13N, R14W and a 16.67% working interest in two sections to the
immediate south where Chesapeake Energy Corporation (NYSE: CHK) owns the
remaining 83.33% working interest.
OPS Group Limited, formed in 2005, provides a cost-effective means of
outsourcing engineering, regulatory and accounting services as an operating
package. The company provides its contract clients with knowledgeable and
skilled professionals to perform the critical task of well operations on a
short or long term basis. OPS provides these services through a contractual
arrangement with New Tech Engineering, LP, founded in 1998. New Tech is one
of the largest domestic engineering-consulting firms in the energy industry
with regional offices in ten cities and with more than 400 well site,
engineering, and project management consultants working domestically and
around the world.
Mainland Resources, Inc. has initiated plans through OPS to contract a
drilling rig to drill a horizontal test into the Haynesville shale, and to
acquire the necessary tubulars to drill and complete the proposed test. The
Company expects to be ready to spud its first deep test in the area by mid
June 2008.
The Haynesville shale play is an emerging natural gas discovery in the
northwestern Louisiana area of the United States. The region has experienced
several major natural gas discoveries in the Haynesville formation, roughly
below the depth of 10,500 feet, since late 2007 and is now the subject of
considerable exploration by major oil and gas companies. Current estimates of
potential gas reserves from the Haynesville shale structure range up to 39
Tcfe (Trillion cubic feet equivalent) of gas. Individual wells in the region
are quoted as with reserves of 4-5 Bcf per well.
About Mainland Resources, Inc.
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
gas region near Elm Grove.
Symbol: MNLU - OTCBB, Symbol: 5MN; Frankfurt, WKN No.: A0ND6N
SAFE HARBOR STATEMENT - THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING
STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE,
WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE
ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING
THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED
IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO
CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR
IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS,
INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH
WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR
STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE
COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH PROPERTY
DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST
RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND FROM TIME-TO-TIME
IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS
INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE
COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF
SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO
ASSURANCE THAT THE COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY
WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS
ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO
OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS
WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING
STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS,
EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE,
THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS
WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION
SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE
COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES
FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE OTCBB
NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS RELEASE. THIS
NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN
OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY
JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR
TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH
JURISDICTION.
SOURCE Mainland Resources, Inc.
