Australia-focused Holloman Energy Corporation reported Monday that the firm's farmout partner has signed a letter of intent with Hunt Energy and Mineral Pty. Ltd. (Hunt Energy) with regard to a drilling service agreement whereby Hunt Energy will provide drilling services for up to 6 wells in the Petroleum Exploration License PEL444 located on the western flank of the Cooper/Eromanga Basin in the State of South Australia, Australia.
Based on the recent reprocessed Wingman 3D survey, the targeted drilling locations have been mapped at various stratigraphic levels such as Birkhead, Namur and Hutton. These will be assessed in conjunction with the analogies from the adjacent Charo field.
Holloman is focused on exploring and producing oil in Australia's Cooper Basin. Holloman's Cooper Basin licenses include interests in PEL 112 and PEL 444 which currently comprise approximately 850,000 thousand gross acres (3,444 square kilometers), 413,000 net acres on the prolific Western Margin of Australia's Cooper - Eromanga Basin.
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