SOURCE: Holloman Energy Corporation

Holloman Energy Corporation

April 18, 2013 08:15 ET

Work Area Clearance Underway on Holloman's Cooper Basin Licenses

HOUSTON, TX--(Marketwired - Apr 18, 2013) -   Holloman Energy Corporation (OTCQB: HENC) ("Holloman") initiated Work Area Clearance ("WAC") on Petroleum Exploration License ("PEL") 444 on April 9, 2013. WAC is the process by which Australia's Native Title Holders review proposed exploration sites to insure planned activity does not harm the cultural integrity of the land to be explored. PEL 444 WAC is expected to take approximately 10 days, and is the first step in the acquisition of 80 square kilometers of 3D seismic data on that license.

Holloman's WAC crew is scheduled to move to PEL 112 on or about April 20, 2013 to begin WAC on one or more access roads and drill site locations. PEL 112 WAC is expected to take 3 to 5 days. Holloman anticipates permitting, road construction and drill site preparation will begin immediately upon completion of WAC fieldwork and reporting.

Holloman estimates that the first well will be drilled on PEL 112 in the second calendar quarter of 2013, subject to approvals and final rig availability. The acquisition of seismic data on PEL 444 is currently scheduled for mid-2013.

About Holloman 
Holloman Energy Corporation 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 comprise 4,544 km2 (1.125 million acres) in the southwest and northwest sectors 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
    Robert Wesolek
    (281) 260-0193