Holloman Energy Corporation updates its shareholders and other interested parties on the status of its Cooper Basin strategy and operations.
Petroleum Exploration Licence (PEL) 444
The processing of 80 square kilometres (19,768 acres) of 3D Seismic data on PEL 444 (the "Wingman Survey") has been completed, and interpretation of the data has commenced. Holloman estimates that interpretation of the Wingman Survey will be complete within 30 days. Once interpretation is finalized, Holloman will announce the proposed drill date for its initial well on PEL 444. It is anticipated that at least one prospect will be matured for drilling.
The Wingman Survey was acquired over a portion of PEL 444 that lies within the "Western Margin" of the Cooper Basin, which is generally considered highly prospective. This trend is being actively drilled by adjacent licensees including Senex Energy and Beach Energy.