Mainland Updates Ops at Mississippi Haynesville Shale Area

Mainland provided the following forward event plan and update for its Mississippi Haynesville Shale operating area:

Core Labs is continuing their laboratory tests of the Haynesville full core and the Company anticipates the completion of the GRI, XRD and TOC tests during the week of January 24, 2011.

These tests will quantify mineralogy, Total Organic Carbon (ability to generate gas) and composite porosity, amongst various other important reservoir parameters. These directly measured parameters will be incorporated with the electric line logs into a Shale Gas Analysis in order to provide the Company with an industry-standardized gas in place estimate.

Since the entire process requires multiple levels of data to be combined, it is expected that the Shale Gas Analysis will be completed within three weeks of receiving all of the core tests.

The Company anticipates the completion of the adsorption core test, which directly measures gas in place, in the third week of February. This test will be compared to the gas in place assumptions generated by the Shale Gas Analysis to confirm the gas storage capacity of the shale.

The Company's forward plan consists of the completion of the Haynesville Shale analysis, along with the other potentially productive zones in the Burkley-Phillips #1 well, and then the subsequent design of a completion and production test of the Haynesville Shale.

The timing of the completion and production test will be subject to equipment availability and an appropriate weather window allowing for an uninterrupted period to perform the operations required to effectively test the well.