SOURCE: Holloman Energy Corporation
HOUSTON, TX--(Marketwire - Nov 15, 2012) - Holloman Energy Corporation (OTCQB: HENC) is pleased to announce that a Letter of Intent (LOI) has been executed by a farmout partner with Hunt Energy & Minerals Co. - Australia Pty. Ltd. (Hunt), to support upcoming drilling efforts on Petroleum Exploration License (PEL) 112. Hunt is a drilling contractor with over 25 years experience in the Cooper-Eromanga Basin. The LOI engages Hunt's Rig No. 3 to drill up to 3 wells. The first well in the drilling program is scheduled to begin upon receipt of the requisite government and native stakeholder approvals. It is anticipated that drilling will start in the first quarter of 2013. The LOI is subject to contingencies including completion of a formal drilling contract expected by November 30, 2012.
About Holloman Energy
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 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 filings with the SEC.
ON BEHALF OF THE BOARD OF DIRECTORS
Holloman Energy Corporation