Mainland Resources Inc. Upgraded 'Speculative Buy,' Target Price to $9.10 by Beacon Equity Research

DALLAS--(BUSINESS WIRE)--

Mainland Resources Inc. (OTCBB: MNLU) receives upgraded Speculative Buy with a price target of $9.10 by Beacon Analyst, Victor Sula, Ph.D.


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In the report, the analyst writes, "Consistent with these new reports, we are revising our estimates for MNLU's initial production and revenues upward. We also expect the Company to accelerate its drilling program as a result of the recently announced Petrohawk joint development agreement ... As a result, we are increasing our near-term price target for MNLU."

Other companies in the natural gas sector include Questar Corp. (NYSE: STR), Petrohawk Energy Corp. (NYSE: HK), Goodrich Petroleum Corp. (NYSE: GDP) and Chesapeake Energy Corp. (NYSE: CHK).

Beacon Equity Research Disclosure

The analysts contributing to this report do not hold any shares of MNLU. Additionally the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research ("Beacon") certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report.

Beacon Equity Research and its affiliates have been compensated a total of thirteen thousand dollars directly from the company for enrollment of MNLU in its research program and other services. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.

Source: Mainland Resources Inc.