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Holloman Energy Provides Cooper Basin Seismic and Drilling Update
By: Marketwired .
Feb. 7, 2013 12:55 PM
HOUSTON, TX -- (Marketwire) -- 02/07/13 -- Holloman Energy Corporation (OTCQB: HENC) announces the completion of seismic interpretation, and the identification four drill-able prospects on its Petroleum Exploration License (PEL) 112. The prospects are similar geologically to producing structures observed in existing oil pools (including the Butlers, Perlubie and Parsons fields) located to the north of PEL 112 on the western-flank of Australia's prolific Cooper Basin. All prospects identified display 4-way structural closures and target the Namur sandstones.
"We are pleased with the foundation laid to date, and are poised to pursue a multi-well drill program on PEL 112," stated Mark Stevenson, Holloman CEO. "In addition," Stevenson continued, "we've begun planning and design for seismic acquisition on PEL 444. All things considered, 2013 promises to be an exciting year for Holloman and its shareholders."
During January 2013, Holloman's farmout partner committed to drill 3 wells (with an option of two additional wells), using Hunt Energy & Minerals Co. - Australia Pty. Ltd. (Hunt). It is anticipated that well locations will be spread between Holloman's PEL 112 and PEL 444 licenses. Hunt is a drilling contractor with over 25 years of experience in the Cooper-Eromanga Basin. The first well in the drilling program is scheduled to begin upon receipt of the requisite government and native stakeholder approvals.
About Holloman Energy
Holloman Energy Corporation is focused on exploring and producing oil in Australia's Cooper Basin. Holloman's Cooper Basin licenses include interests in PEL 112 and PEL 444 which comprise 4,544 km2 (1.125 million acres) in the southwest and northwest sectors of Australia's Cooper - Eromanga Basin.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which the Company has little or no control. The Company does not intend (and is not obligated) to publicly update any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the Company's filings with the SEC.
ON BEHALF OF THE BOARD OF DIRECTORS
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