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 kilometers of 3D Seismic data on PEL 444 (the "Wingman Survey") is scheduled for completion by November 8, 2013. Seismic interpretation of the Wingman Survey is now projected to be available by the end of November 2013. The Wingman survey was shot over prospective leads identified by a 2D survey acquired on that license in 2005. It is anticipated that at least one prospect will be matured for drilling. PEL 444's current licence term expires on July 10, 2015, and has a one-well drilling commitment remaining.
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.