Monday, October 20, 2008

Haynesville Shale: Desoto Parish - Mainland Resources MNLU Spuds first Well 10/20/08

This morning, 10/20/08, Mainland Resources ( MNLU ) is out saying that they have spudded their first Haynesville Shale well in DeSoto Parish Louisiana.

Mainland Resources, Inc reports that its JV Partner
and operator has commenced drilling operations on the first JV well to evaluate potential
of the Haynesville Shale gas formation on Mainland’s Louisiana leases.
Mainland Resources, Inc. holds interest in approximately 2,695 net acres, which form
part of the East Holly Field in De Soto Parish, northwest Louisiana.

The Griffith No. 1-H well is the first well to be drilled on Mainland’s property based on
Company data and proximity to several vertical Haynesville wells waiting on completion,
two horizontal wells being drilled, and another Haynesville well recently permitted. The
JV Partner and operator will pay 100% of the costs of this first well drilled on Mainland’s
leases to earn 60% of the first well as part of its agreement with the Company.

Company President, Mike Newport states, “We are now drilling the first of what we
believe could potentially be many wells on our DeSoto Parish Leases. Management
expects that this new well will provide results showing the gas potential of the
Haynesville shale on our property.”

According to industry sources, the Haynesville Shale is now regarded as the 4th
largest natural gas field in North America, with the leading exploration company in the
play announcing it is projecting 52 BCF (Billion Cubic Feet) of recoverable gas per
section in the Haynesville fairway.

Full List of Haynesville Shale Companies and Stock Symbols: