Mainland, American Exploration Merger 'Rapidly Progressing'

Mainland and American Exploration are rapidly progressing the Merger Agreement previously entered into. The Merger Agreement contemplates a stock-for-stock merger between Mainland and American Exploration. The companies entered into an amending agreement, which has extended the Termination Date of the Merger Agreement to March 31, 2011. This will allow adequate time to complete all administrative and regulatory matters related to the merger process.

The companies have filed a draft S-4 prospectus pursuant to the merger for review by the SEC and will work to secure SEC acceptance of the S-4 in a timely manner.

Once the S-4 prospectus has been accepted by the SEC, it will be formally filed and respective shareholder meetings will be scheduled to formally vote on the merger.

As part of its working relationship with American Exploration, the Company has engaged Steven Harding to act as a consulting geologist on its Mississippi Buena Vista project.

Steven Harding has occupied a number of senior positions during the past 28 years within EnCana Corporation and its predecessor Alberta Energy, as well as Husky Energy. His experience includes acting as Vice President Northern Canada and Vice President Alaska/MacKenzie Delta at EnCana and Chief Geoscientist at Husky Energy.

Mr. Harding has extensive experience with oil and gas exploration and development within numerous geological basins, both within and outside of North America. Included in his accomplishments is developing the geological model which lead to the discovery of the giant White Rose field, offshore Newfoundland. The White Rose field is currently estimated to hold about 450 to 500 Million bbls of oil and 3 to 4 Tcf of gas. It is a major field currently producing at more than 100,000 bbls/day.

While at EnCana, Mr. Harding negotiated and secured the largest exploration position in the US and Canadian Arctic, leading to the discovery of the Umiak field and receiving an MMS corporate citizen award for outstanding cultural and environmental efforts in Alaska.

It is anticipated that upon acceptance of the Merger Agreement that Steve Harding will serve as a Director of the Company.

Steven Harding states, "I'm pleased to have the opportunity to work on the Buena Vista Project. I have been able to lend some unique insights and add real value to the interpretation of the data. I look forward to helping create greater value for Mainland going forward."

Company CEO Nick Atencio stated, "The proposed merger is moving ahead as intended. We are fortunate to be able to enlist Steve Harding as part of the team developing our Mississippi interests. Once merged, the combined assets will place Mainland in an enviable position in this region."

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