SOURCE: Holloman Energy Corporation

Holloman Energy Corporation

October 27, 2015 09:01 ET

Baikal #1 Drilling Program Underway on PEL 444

HOUSTON, TX--(Marketwired - Oct 27, 2015) -  Holloman Energy Corporation (OTCQB: HENC) reports that the Baikal #1 exploration well on Petroleum Exploration License (PEL) 444 is expected to spud early December. Senex Energy Limited (ASX: SXY) has been engaged to manage the drilling services on behalf of Holloman's joint venture with Terra Nova Energy Ltd. and others. The Baikal #1 will be drilled as a vertical slim-hole well to an expected depth of 2,050 meters (6,700 feet), and will take approximately 11 days to reach Total Depth. The well will target the mid-Birkhead channel sands. If Baikal #1 shows to be successful the well would be used as a production well.

About Holloman Energy

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 3,444 km2 (approximate 850,000 gross acres, 413,000 net acres) on the prolific 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.

Holloman Energy Corporation

Contact Information

  • Contact:

    Holloman Energy Corporation
    Gina Serkasevich
    (281) 260-0193