Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Mainland Resources, Inc. (MNLU.OB) Completes Key Stage, Enters Final Stage of Drilling

Yesterday, Mainland Resources, Inc. updated its progress on drilling operations on their Buena Vista Prospect in Jefferson County, MI. This is located in what is being considered the fourth largest gas field in the world.

Mainland Resources, Inc., an oil company that explores oil and gas resources, has drilled their Burkley-Phillips No. 1 well to a depth of 17, 872 feet, and has detected potential gas productive intervals in the shale. Mainland’s current initiatives are focused on acquiring leases on land in emerging gas regions that show potential for oil and gas discovery.

The Buena Vista Prospect has so far shown signs of derived gas hydrocarbon of differing qualities, which might suggest an active hydrocarbon source.

The Burkley-Phillips well is currently drilling at a depth of 17,9000 feet, with the goal of a total depth of 22,000 feet, cutting through the Cotton VAlley and Haynesville intervals. Mainland Resources management will provide updates on the drilling process as further milestones are reached.

Nick Atencio, Mainland CEO, stated, “Setting this string of casing was a key milestone in the progress of the well. Although we set this current string of casing above the originally programmed depth, we have a wellbore now with prospective zones protected by casing, which will facilitate drilling through the Cotton Valley and Haynesville to the programmed Total Depth. It is also very encouraging to encounter zones with apparent hydrocarbon charge. This supports our geologic model which envisioned a viable hydrocarbon source and effective hydrocarbon migration and trapping mechanisms.”

Please see disclaimer on QualityStocks website:

Disclosure: no positions