2010-04-22-2008-02-27-2008-03-14

Purchased 100% WI in 2,551 net acres in East Holly Field, DeSoto Parish, LA.

Mainland Resources Inc. entered into an option agreement with Kingsley Resources Inc., Nevada corporation, to acquire 100% working interest in East Holly Field of the De Soto Parish in Louisiana. The Leases create a contiguous block of acreage on the southeast flank of the East Holly Field. The Leases were the subject of a certain purchase agreement dated December 11, 2007, between Kingsley and Permian Basin Acquisition Fund, pursuant to which Kingsley acquired the sub-surface rights provided for in the leases. Mainland paid $687,596 for approximately 2,551 net acres for a 100% working interest and a 75% net revenue interest.