Holloman Energy Corporation
OTC Bulletin Board : HENC

Holloman Energy Corporation

January 07, 2008 10:37 ET

Holloman Energy Announces Enhancements to Its Executive Team

HOUSTON, TEXAS--(Marketwire - Jan. 7, 2008) - Holloman Energy Corporation (OTCBB:HENC) (the "Company") is pleased to announce two enhancements to its executive team. Effective immediately, the Company elevates current Director Mark Stevenson to Chairman of its Board of Directors and elects Grant Petersen as interim President and CEO.

The Company believes these additions signal a new and positive stage in its development. Mr. Stevenson's elevation is intended to squarely set the Company's focus on effective and cost-efficient operations. The addition of Mr. Petersen is expected to significantly enhance the Company's growth and capital formation efforts. Petersen has agreed to undertake his role on an interim basis while he steers the Company's efforts to identify a candidate suitable to drive the long-term expansion of its oil and gas operations.

"We are confident that Mark Stevenson is the man to spearhead the efforts of our Board" stated independent director David Lewis. "He is a solid leader with the know-how to make things work." "As for Grant Petersen," Lewis continued, "he is exactly the kind of man we've been looking for to protect shareholder value and deal with complex issues related to our growth. We are proud to have both of these executives associated with the Company."

Mark Stevenson joined the Company's Board of Directors during September 2007 and has served as President and Chief Executive Officer of Holloman Corporation since July 1998. Holloman Corporation currently owns approximately 23% of the Company's common stock and is one of the largest employee-owned engineering, procurement and construction companies in the United States. The Company believes Mr. Stevenson's proven business skills and bottom line approach will significantly enhance its operations.

Grant Petersen has nearly 30 years of entrepreneurial and senior executive experience in industries including manufacturing, automotive and the Internet sector. Mr. Petersen's experience and business acumen are a welcome addition to the Company's management arsenal.

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 update publicly 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 recent filings with the SEC.


Holloman Energy Corporation

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