Holloman Energy Corporation reports the South Australian Government has announced successful bidders on five new Petroleum Exploration Licenses within the Cooper Basin. The highest guaranteed bid was offered on Block CO2009-A which directly abuts the northern borders of Holloman's PEL 112 concession. The winning bid requires Holloman's newest neighbor to drill 12 exploration wells and shoot 650 square kilometers of seismic on the acquired acreage.

"The highly competitive bidding reflects the petroleum industry's continuing view that the South Australian Cooper Basin represents a real asset in their exploration portfolios... it clearly indicates their perception of the potential for further oil and gas discoveries...," stated Hon. Paul Holloway, South Australia's Minister for Mineral Resources. "Success rates for oil are high and discoveries can be commercialized within months," Holloway continued. "The country's exploration industry has been reshaped by the turnover of Cooper Basin acreage since 1998 through a number of 'Company-Making' discoveries... The CO2009 acreage release confirms that the Cooper Basin remains a very attractive exploration address."

Holloman holds interests in PEL 112 and PEL 444 which comprise 4,544 Sq km (1.125 million acres) in the southwest and northwest sectors of Australia's prolific Cooper - Eromanga Basin.

Mark Stevenson, Chairman of Holloman Energy's Board of Directors, stated, "The public observations made by the South Australian Minister for Mineral Resources say it all. We are excited about the potential of our Cooper Basin holdings and look forward to the pursuit of planned seismic and drilling programs during 2010."

Tags: Holloman Energy Corporation