Mainland Resources said that the Burkley-Phillips No1 well on the Buena Vista Prospect located in Jefferson County, Mississippi, has been drilled and cased to a depth of 17,872ft.
The 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, according to the company.
The Burkley-Phillips No1 well is currently drilling at 17,900ft and the forward plan calls for the drilling operations to proceed through the Cotton Valley and Haynesville intervals to the programmed total depth of 22,000ft.