Cooper Basin Update
November 04 2013 - 9:24AM
Marketwired
Cooper Basin Update
HOUSTON, TX--(Marketwired - Nov 4, 2013) - Holloman Energy
Corporation (OTCQB: HENC) ("Holloman") updates its shareholders and
other interested parties on the status of its Cooper Basin strategy
and operations.
Petroleum Exploration
Licence ("PEL") 444
The processing of 80 square kilometers of 3D Seismic data on PEL
444 (the "Wingman Survey") is scheduled for completion by November
8, 2013. Seismic interpretation of the Wingman Survey is now
projected to be available by the end of November 2013. The
Wingman survey was shot over prospective leads identified by a 2D
survey acquired on that license in 2005. It is anticipated that at
least one prospect will be matured for drilling. PEL 444's
current licence term expires on July 10, 2015, and has a one-well
drilling commitment remaining.
The Wingman Survey was acquired over a portion of PEL 444 that
lies within the "Western Margin" of the Cooper Basin, which is
generally considered highly prospective. This trend is being
actively drilled by adjacent licensees including Senex Energy and
Beach Energy.
Once interpretation of the Wingman Survey is complete, Holloman
will announce the likely drill date for its initial well on PEL
444.
PEL 112
The drilling of the Wolfman #1 well completed the work
requirements for the current term of PEL 112. Holloman intends to
renew that licence for a further five year term. Under Australian
law, at the end of each five year term, a portion of the area
covered by a PEL (33% of the original license acreage) must be
relinquished. As a result, the upcoming application (second
renewal) will cover 50% of PEL 112's current license area. Holloman
and its working interest partners in PEL 112 are currently
reviewing the relinquishment requirements. The renewal
application will most likely contain further commitment to 3D
seismic acquisition and drilling over the 5-year period. The
renewed area will retain the areas of 2D and 3D seismic acquired in
the licence, and the existing leads and prospects.
About Holloman
Holloman 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 currently comprise 4,554 km2
(1.125 million acres) on the Western Margin 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
Holloman Energy Corporation http://www.hollomanenergy.com
Contact: Holloman Energy Corporation Robert Wesolek
(281) 260-0193
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