SOURCE: Holloman Energy Corporation
HOUSTON, TX--(Marketwired - Dec 5, 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 kilometres (19,768 acres) of 3D Seismic data on PEL 444 (the "Wingman Survey") has been completed, and interpretation of the data has commenced. Holloman estimates that interpretation of the Wingman Survey will be complete within 30 days. Once interpretation is finalized, Holloman will announce the proposed drill date for its initial well on PEL 444. It is anticipated that at least one prospect will be matured for drilling.
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.
Senex Energy reports that the nearby Snatcher Oilfield, 23 kilometers (14.3 miles) to the southwest of the PEL 444 Wingman area, has been extended to the northwest by the Snatcher #9 well, with additional field-drilling planned. In the adjacent PEL 182 licence to the east of PEL 444, planned seismic and drilling work is expected to contribute to the prospectivity of this "western flank oil fairway" trend.
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