SOURCE: Holloman Energy Corporation

Holloman Energy Corporation

July 02, 2015 06:00 ET

Holloman Energy Update on PEL 444

HOUSTON, TX--(Marketwired - Jul 2, 2015) - Holloman Energy Corporation's (OTCQB: HENC) primary objective continues to be the pursuit of its drilling plans in Petroleum Exploration License (PEL) 444. HENC is keeping abreast of the recent shareholder events surrounding their drilling partner Terra Nova Energy Ltd. (Terra Nova). A dissident shareholder group is currently waging a proxy contest to replace current management at the upcoming Annual General Meeting on July 15, 2015. The Company has decided it's in the best interest of HENC's shareholders to delay decisions affecting the licenses until Terra Nova's management team is determined. The Company remains confident in the potential of its licenses and will reengage with Terra Nova to formalize exploration plans after their meeting.

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.

ON BEHALF OF THE BOARD OF DIRECTORS
Holloman Energy Corporation
http://www.hollomanenergy.com

Contact Information

  • Contact:
    Holloman Energy Corporation
    Gina Serkasevich
    (281) 260-0193