Mainland Resources, Inc. (MNLU.OB) Secures Footing in Explosive Haynesville Shale
The Haynesville Shale is considered the fourth largest natural gas field in North America, making it an obvious attraction to numerous exploration companies. One such company with the shale on its radar is Mainland Resources (OTCBB: MNLU), a junior company engaged in the acquisition and development of leases in the Haynesville Shale. The company today announced a letter of agreement in which it will acquire 5,000 net acres in Mississippi, where it has plans to drill the first test well to evaluate the potential of the Haynesville Shale gas formation in the region. Mike Newport, president of Mainland Resources, says…