SOURCE: Holloman Energy Corporation
HOUSTON, TX--(Marketwire - Jul 25, 2012) - Holloman Energy Corporation (OTCBB: HENC) is pleased to announce that fieldwork supporting the acquisition of seismic data on its Petroleum Exploration License 112 ("PEL 112") is underway. Geokinetics (Australia) Pty. Ltd. will undertake the 3D seismic survey on the northern boundary of PEL 112. Crews are currently in the field completing line clearing and survey work. Seismic acquisition is expected to commence in early August 2012 and will include the acquisition and processing of 127 square kilometers ("sq km") of 3D data at cost of up to AUD$3.7 million. The survey will identify potential multi-zone drilling targets including the Namur, Hutton and Birkhead shale down to 7,000 feet.
Holloman has over 400 km of existing 2D seismic data on PEL 112 and has identified over 27 leads having potential drilling locations. Geologists and geophysicists have isolated and high-graded 12 of the 27 leads that will be the focus of the Geokinetics 3D survey. Four (4) of those 27 leads are currently considered drillable.
About Holloman Energy
Holloman Energy Corporation is focused on exploring and producing oil in Australia's Cooper Basin. Holloman's Cooper Basin leases include interests in PEL 112 and PEL 444 which comprise 4,544 Sq km (1.125 million acres) in the southwest and northwest sectors of Australia's prolific 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 recent filings with the SEC.
ON BEHALF OF THE BOARD OF DIRECTORS
Holloman Energy Corporation