Initial Study on PEL 444 Seismic Survey in Cooper Basin Completed

Holloman Energy Corporation (Holloman), an oil exploration and producing company, confirmed Wednesday that the initial seismic interpretation of the Wingman 3D Seismic Survey at Petroleum Exploration License (PEL) 444 on the southern flank of the Cooper Basin in South Australia was completed in December 2013, by Tanglin Exploration Pty Ltd. of Sydney, Australia.

The interpretation effectively images the Lower Birkhead Formation and identifies a number of geophysical anomalies that may support hydrocarbon trapping. The Birkhead Formation is the principle reservoir in the Snatcher/Charo and Growler Oil Fields, located on trend with PEL 444. Due to the complexity of the geological environment, a second independent review of the seismic interpretation is planned before a potential drilling target is selected. It is expected that the second interpretation will be complete within 2-3 weeks.

The Wingman 3D seismic survey covers approximately 31 square miles (80 square kilometers) and was acquired in the southeastern part of PEL 444. Surveying, line clearing and recording operations were undertaken by Terrex Pty Ltd of Perth, Australia. The data was processed by Dolphin Geophysical Pte Ltd in Singapore. The results of this survey will be integrated with 2D seismic data shot in 2005, to evaluate the prospectivity of the southeastern portion of the exploration license. The use of regional 3D seismic surveys as an exploration tool has greatly improved the wildcat success rate in the West Eromanga Basin, South Australia.

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