Under the terms of the agreement, Mainland Resources will acquire 100% working interest and 75% net revenue interest on all gas formations within the 5,000 net acres, which are located in southwestern Mississippi within the Mississippi Interior Salt Basin.
Mike Newport, president of Mainland Resources, said: We have data that suggests the potential Haynesville Shale in this region could be similar in nature to the gas bearing Haynesville Shale in northwest Louisiana.
