Tuesday, June 23, 2009

Mainland Acquires Mississippi Land: Haynesville Prospect?

Mainland Resources announced today that it has entered into a LOI to acquire 8,000 acres in Mississippi that it believes shows prospective Bossier/Haynesville Shale and Hosston formations. This assumption is based on seismic and log data from an old well drilled and abandoned by a major in the 1980's. Unfortunately, the release is not very specific as to the exact location in Mississippi.

From the release:
"According to available well logs from drilling, the identified Bossier/Haynesville Shale is demonstrated to be over 2500 feet thick with extremely large pressures up to or exceeding 20,000 psi. The well was still in the Bossier/Haynesville Shale when drilling operations were discontinued due to high pressures, etc. The Bossier/Haynesville Shale is possibly much thicker than 2500 feet, which is several times thicker than the Bossier/Haynesville Shale encountered in NW Louisiana. The density neutron log from the previous drilling also shows good average porosity from 12% to 15%."

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