Haynesville Shale March 16, 2009 3/16/09 - Update

This morning, 3/16/09, Mainland Resources ( MNLU ) has come out an updated investors on one of the wells they are drilling in the Haynesville Shale.

Mainland Resources ( MNLU ) reports that management has received detailed data readings from its Griffith 11 #1 well provided by the operator showing total well flow through March 10, 2009. The Griffith 11 #1 well located in Desoto Parish, Louisiana was completed and brought online in January 2009. The exact reading for total gas produced from the Haynesville shale and shipped to market through March 10, 2009 is reported at 568,856 MCF or .568 BCF.

Mainland Resources, Inc. holds a 40% working interest in the well and all future development in the Haynesville formation covering approximately 2695 net acres on its leases, which are located in northwest Louisiana.

The Haynesville Shale play is a new play less than one year old and there is limited data to work with to determine the decline rate for Haynesville Shale wells. The Company believes that the recoverable reserves for the Griffith well may ultimately be from 7.5 BCF to 15.81 BCF. The 15.81 BCF rate was determined by a reserve report for the Griffith #1 done by T.W. McQuire & Associates, Inc., prepared pursuant to U.S. Securities legislation. The ultimate recovery was determined by using a type curve that uses 80% decline for the first year, followed by 30% decline for the second year, 15% decline for the third year, and then a 10% decline over the remaining expected life of the well. This decline was derived from the Deutsche Bank report issued in 7/08 based on a study of various shale plays.

Mainland plans to participate in their second Haynesville well in Desoto Parish in May 2009. The third well on the Companys’ leases is on schedule to spud in August 2009.

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Haynesville Shale: Chesapeake Energy CHK 3/2/09

Today, Chesapeake Energy ( CHK) has come out and announced an update on their joint venture with Plains Exploration ( PXP ) regarding the Haynesville Shale.

Chesapeake has elected to curtail approximately 240 million cubic feet of natural gas equivalent (mmcfe) per day of its gross natural gas and oil production due to currently low wellhead prices in the Mid-Continent region. The company has curtailed approximately 200 million cubic feet per day of gross natural gas production and approximately 6,000 barrels per day of gross oil production for at least the month of March 2009. The curtailed production represents approximately 7% of Chesapeake’s current gross operated production capacity. Additionally, the company is considering a further 10% reduction in its drilling activity during 2009 if natural gas and oil prices remain low during the next few months. The company’s attractive hedges and cash availability provide it with the operational and financial flexibility to curtail production during periods of unusually low prices, such as the current market environment. The company believes conditions are developing that will support higher prices for natural gas and oil later this year and in 2010.

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