Holloman Energy Corporation (formerly Endeavor Energy) is a leading independent oil and gas exploration and production company. Holloman operations are focused primarily in Australia and Canada. The company's portfolio of oil and gas properties provides stable, environmentally responsible production, and provides a solid foundation for a growing portfolio.
Holloman's three major oil and gas properties in Australia are: Gippsland Basin, Cooper Basin, and Barrow Sub Basin. Holloman has spent over three years in researching and performing geophysical acquisition over the concessions. Each of these areas include several major discoveries in various stages of development since the late 1960's, and have yielded billions of barrels of production. Several of the world's largest oil and gas companies are producing, developing and exploring adjacent to Holloman's oil and gas concession.
In Canada, Holloman has accumulated an impressive 1.2 million acres in the prolific hydrocarbon region of Alberta - Saskatchewan basin for development. The area is prone to both oil and gas in multiple zones. Holloman is partnering with industry leaders, to develop prospective reserves in the Canadian prairies proving our expertise and growth model.
The Company’s goal is to increase reserves, production and cash flow by pursuing the following strategies:
- Identify and develop unconventional resources; - Explore in high-potential, proven basins; - Exercise capital discipline; - Preserve financial flexibility; - Grow by the drill bit.
Holloman intends to build a portfolio of assets and growth opportunities through both exploration and acquisition.
Holloman Energy Corporation retains the oil & gas exploration permits PEL's 108, 109, & 112, located in South Australia in the prolific Cooper/Eromanga Basin. Holloman Energy Corporation (the Operator) has agreed to drill and complete three exploratory wells in the northern section of PEL 112. Site locations have been predetermined and road access is now completed. PEL 112 covers approximately 818,904 gross acres, and has never been drilled. All the wells are approximately 6,000 feet deep and cost around $1.5 million dollars each to drill and complete. The Company's is relying on its recent $2 million seismic shoot and subsequent interpretation for oil well location.
The new seismic survey and interpretation on PL 112 has discovered two large seismograph highs as well as 24 smaller ones. The 2 large seismograph highs are called C-23 & C-26, which cover a combined area of approx. 5,534 acres with excellent closure.
Holloman's participation in the Cooper Basin began in 2003 with the acquisition of PEL 108, 109 and 112 with a combined gross acreage of 1,325,715.
Recent drilling activity in the area has intensified; seven new wells adjoining PEL 112 to the North and East have been completed with an 86% success ratio. The latest successful well north of Holloman's PEL 112 is the Sellicks-3. The Sellicks-3 encountered 2 zones of oil shows in the lowermost sand of the Patchawarra Formation over the interval 2,153 meters to 2,155 meters. DST #2 Recovered 85 Bbls oil over a 90-minute flow period or approximately 1,365 bopd in the upper zone. To the east of PEL 112, the Tantanna Oil Field, has produced approximately 7,340,646 barrels of oil from twelve (12) wells, at today's crude prices that equals approximately $513 Million or $42 Million per well. The Seismic line 84-XAB shows a possible look-alike structure on Holloman's PEL 112 similar to the Tantana Oil Field.
RMG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
