|By Marketwired .||
|February 12, 2014 08:44 AM EST|
HOUSTON, TX -- (Marketwired) -- 02/12/14 -- Holloman Energy Corporation (OTCQB: HENC) ("Holloman") is pleased to confirm that the initial seismic interpretation of Petroleum Exploration License ("PEL") 444's Wingman 3D Seismic Survey was completed in December 2013, by Tanglin Exploration Pty Ltd. of Sydney, Australia. The interpretation effectively images the Lower Birkhead Formation and identifies a number of geophysical anomalies that may support hydrocarbon trapping. The Birkhead Formation is the principle reservoir in the Snatcher / Charo and Growler Oil Fields, located on trend with PEL 444. Due to the complexity of the geological environment, a second independent review of the seismic interpretation is planned before a potential drilling target is selected. It is expected that the second interpretation will be complete within 2-3 weeks.
The Wingman 3D seismic survey covers approximately 80 square kilometers and was acquired in the southeastern part of PEL 444. Surveying, line clearing and recording operations were undertaken by Terrex Pty Ltd of Perth, Australia. The data was processed by Dolphin Geophysical Pte Ltd in Singapore. The results of this survey will be integrated with 2D seismic data shot in 2005, to evaluate the prospectivity of the southeastern portion of the exploration license. The use of regional 3D seismic surveys as an exploration tool has greatly improved the wildcat success rate in the West Eromanga Basin, South Australia.
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
Holloman Energy Corporation