Mainland, Operator Complete Third Haynesville Shale Well in La.
Mainland Resources and its Operator have successfully completed the drilling of the lateral portion of the Stevenson Douglas 16 #1 well, which is the third Haynesville shale well to be drilled on its DeSoto Parish, Louisiana leases. The well is currently waiting on completion.
Mainland Resources, Inc. owns a 38.20% working interest in the Stevenson Douglas 16 #1 well.
The Company also reports that its Operator has spud the International Paper Co. et al 12 H-1 well also located on its Louisiana leases. The well reported at a depth of 9,330 feet as of Feb. 8, 2010. This is the fourth Haynesville shale well to be drilled and the Company owns a 30% working interest in and to the well.
The fifth Haynesville shale well on its DeSoto Parish leases is on the drilling schedule to be drilled approximately April 1, 2010. The Company holds a 20.58% working interest in and to that proposed well.
The Griffith 11H #1 and the Dehan 15H #1, Mainland's first two completions in the Haynesville, are currently producing to sales.