Mainland Resources Inc., The Woodlands, Texas, (OTCBB: MNLU) reports that it has received an initial report from SEI Energy LLC, which the company retained to identify existing pipeline infrastructure in the immediate vicinity of the company's Burkley-Phillips No. 1 well and to define the infrastructure as to capacity and availability. SEI also provided estimates on potential tie-in and transmission costs, and upgrade requirements as well as additional costs where applicable.
The contents of the report indicate pipeline infrastructure in place, which will require upgrading, which the company anticipates will enable it to produce from the Burkley- Phillips No. 1 after completion and testing. Mainland expects to commence completion operations during the third quarter of 2011 and anticipates a timeline of three to five weeks.
"Upon well completion, we will perform all the production and flow tests to determine flow rates and production capabilities of the well. This data will then assist in determining pipeline upgrades to the infrastructure identified in the SEI Energy report and assist in drilling locations of further development wells to be drilled," says Mike Newport, president and chief executive officer.
Mainland and its working interest partners control in excess of 17,800 net acres or 28 sections on the Buena Vista prospect area where the Burkley-Phillips #1 well was drilled to 22,000 feet, cored and logged. Upon successful completion of its proposed merger with American Exploration, Mainland would own 92% of the 28 sections in the Buena Vista prospect. As recently announced, core analysis has determined that gas in place in the Buena Vista prospect could be up to 500 BCF/section based on the cored interval.
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