Source: Mainland Resources
Mainland Resources, Inc. (OTC:MNLU) updated the progress of drilling operations at its Burkley-Phillips No.1 well on its Buena Vista Prospect located in Jefferson County Mississippi.
As of October 25, 2010, the Burkley-Phillips No.1 well was drilled and cased to a depth of 17,872 feet. Wireline logs and mud logs have identified potential gas productive intervals in the Hosston formation. The Company cautions that a determination of commercial reserves in the Hosston formation will require a further analysis of porosity within these gas-bearing zones.
To date, the well has encountered numerous mud log derived gas hydrocarbon shows of various qualities suggesting the presence of an active hydrocarbon source and effective migration into hydrocarbon bearing intervals within the Buena Vista structure.
The Burkley-Phillips No.1 well is currently drilling at 17,900 feet and the forward plan calls for the drilling operations to proceed through the Cotton Valley and Haynesville intervals to the programmed total depth of 22,000 feet.
Nick Atencio, CEO, stated "Setting this string of casing was a key milestone in the progress of the well. Although we set this current string of casing above the originally programmed depth, we have a wellbore now with prospective zones protected by casing, which will facilitate drilling through the Cotton Valley and Haynesville to the programmed Total Depth. It is also very encouraging to encounter zones with apparent hydrocarbon charge. This supports our geologic model which envisioned a viable hydrocarbon source and effective hydrocarbon migration and trapping mechanisms."
Management will continue to provide updates as milestone events are reached on the well.