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Stockguru.com: Holloman Energy Corp. is in the StockGuru Spotlight for June 5, 2009

Jun 05, 2009 (M2 PRESSWIRE via COMTEX) -- HENCE | Quote | Chart | News | PowerRating -- DALLAS, TEXAS
StockGuru announces that Holloman Energy Corp. (OTCBB: HENC | Quote | Chart | News | PowerRating) is in the StockGuru Spotlight.

Holloman Energy Corporation. is an emerging international exploration, and development independent. The Company currently holds interests, varying between 66.66% and 100%, in seven oil and gas permits awarded by the Australian government. These permits encompass in excess of 1.7 million acres in the Cooper, Gippsland and Barrow basins.

On Thursday, the company put out news regarding its conversion of over $900,000 of indebtedness into restricted shares of its common stock. Under the terms of a private offering approved by its Board of Directors on May 29, 2009, the Company authorized the issuance of 9,385,935 shares of restricted common stock at a price of $0.10 per share.

The $938,594 of converted indebtedness was payable to its controlling shareholder, Holloman Corporation, and to an entity affiliated with the Company's President and a certain unrelated individual. The announced conversion extinguishes substantially all of the Company's non-trade indebtedness. No fees or commissions were paid in connection with this offering.

Shares for Holloman Energy Corp. (OTCBB: HENC | Quote | Chart | News | PowerRating) were down in the early afternoon of trading on Thursday and closed up one cent at closing.